The launch underlines the importance of continuing research on space and missile programmes, especially on geosynchronoussatellite launch vehicle, which can put into orbit much larger satellites. It also proves the commercial possibilities of investing in scientific and defence technology. It needs to be remembered that Boeing, one of the showpieces of American free enterprise owes much of its competitive advantage to publicly-funded defence research. In fact, defence research has been the catalyst for a whole slew of new applications, including the Internet in its infancy. Far from today's conventional wisdom that the government should keep out of business, a study of US competitive advantage will show that it is publicly paid for defence research which has ushered in American predominance in high-tech industries. We need to draw the right lessons from that fact.