The next generation of wireless internet technology is on its way: “5G” (5^th Generation wireless) will power our future. But it remains to be seen who will implement 5G first. America won the “race” to 4G, boosting the economy, creating jobs and solidifying Silicon Valley’s leadership in the global tech. Can we do it again with 5G?

The promise of 5G is tantalizing: a faster network with larger capacity. What’s not to like? Wireless carriers can’t wait to deliver that promise to their customers. And last year, the Federal Communications Commission (FCC) got out of their way and let them do just that.

Under the leadership of Chairman Ajit Pai, the FCC implemented a number of measures to speed 5G deployment. Most of the regulations controlling wireless building projects were designed for large cell towers. But 5G will depend on a network of small cells, which put much less impact on the environment and the landscape. So, the FCC streamlined the regulations, allowing carriers to build new cell networks faster. The FCC also held a number spectrum auctions, freeing up valuable wireless spectrum for 5G use.

With the FCC getting out of the way, we’ve seen what the free market can do for consumers. 5G will make faster connections available to all, so that we can accomplish more. 5G will also unleash a new wave of innovative products to make our lives easier. The promise of autonomous cars, augmented reality games, and countless “smart” devices we can’t yet conceive of, will all rely on 5G. Wireless carriers are hard at work bringing 5G to America, each company trying to one-up the others. Over a dozen U.S. cities now boast 5G networks, and more are coming soon!

But the race is far from over. China is making its own progress in 5G deployment. Government-owned China Unicom launched 5G base stations in Tiananmen Square earlier this year, with other test networks popping up around the country. Companies in Europe are also working on test networks, and 5G is already available to some customers in South Korea.

Meanwhile, politics in the U.S. could derail the innovation and progress that the free market has enabled to be created. In early March, President Trump’s re-election campaign embraced a plan to involve the government in controlling 5G networks, in order to ensure rural areas enjoy the benefits of 5G as well as the cities. But we’ve seen municipal and government broadband schemes backfire time and again, driving up costs and hurting consumers more than they help. There’s no reason to believe 5G will be any different. The Trump administration has since walked back comments made by the campaign, but the whole episode highlights that the 5G race is far from over: there’s plenty of time left for missteps.

5G represents an incredible opportunity for growth and innovation. The first country to truly implement 5G will have an economic advantage in developing new technology that takes full advantage of the faster, more reliable networks. We’ve already seen how motivated individual businesses are to bring these networks to their customers. Let’s hope our government continues to stay out of their way, so that we can all enjoy the benefits.