The United States is in a heated commercial space race with China, and early indications show that we are losing—and South Floridians, like the rest of the country, should take note. The impacts on key sectors including technology, education, health care and the business community in general, not to mention our global leadership positioning, will be significant unless we all work together to raise awareness and encourage our leaders to take the right steps before it’s too late. Following are some lessons learned and practical guidance, based on our experience in the booming global space economy, which is expected to reach $3 trillion by 2040.

First, some background: While U.S. policymakers debate the preferred state for a Department of Defense headquarters, China is launching ahead with its commercial space ambitions. China’s acceleration in the commercial space industry is evidenced by the successful launch of a methane-liquid oxygen rocket by LandSpace on July 12, beating out U.S. rivals, including Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, in the race to launch carrier vehicles fueled by methane, which is deemed less polluting, safer, cheaper, and a suitable propellant in a reusable rocket. The implications of China’s significant methane-fueled rocket are not just technologically impressive but have enormous economic consequences for the commercial space industry. The Space Foundation’s July 25 Q2 2023 report shows an annual growth of the global space economy at $564 billion, with conservative estimates of $800 billion in the next five years. The United States will stifle space innovation if it fails to distinguish between commercial and government roles in this industry transition.