Why is it so imperative for the U.S. to "compete" with other countries when it comes to technology, economy, etc.?

For example:

In his post-election address this afternoon, Pres. Obama specifically referenced the fact that China now boasts the fastest supercomputer, and we - the United States - should be funding efforts for direct competition. What's more, his tone implied a certain urgency, almost like he was seriously pissed off that we were losing to China.

Isn't this kind of what China is known for? They've always been at the forefront of technology, why should we be surprised or angry they have the biggest, coolest, totally raddest computer?

Is it just me, or should we be applauding China for the efforts and advancements in technology rather than simply try to beat them? Sure, it'd be great if we could say we had the fastest supercomputer, the fastest hi-speed train, etc., but aren't there MUCH MORE IMPORTANT ISSUES that our government should be addressing?

Obama went on to talk about other issues (though he mostly responded to questions about how much the Democrats will suffer at the whim of a Republican-controlled House), but I can't lie - I was disappointed to see our President's priorities capped with this alpha-male desire.

TL;DR Why can't countries work together globally for technological advancements like the fastest supercomputer?