Is another Space Race needed?

The world needs another Space Race, for that matter. But what is there to race for? The original Space Race (SR) was a race between the Soviets and the Americans, and the finish line was space. And later, that became Luna, the moon. And now, we have really nothing to reach for.

Maybe Mars, but honestly, what good would that do? It's a most likely lifeless planet. But if that would help fuel another SR, then maybe it wouldn't be such a bad thing.

The reason I think another SR is necessary is that the SR revolutionized technology as we know it. It sped up technology, and nearly every technology we use today was the result of the Americans trying to outdo the Soviets and whatnot.

If another SR happened, which this time I assume would be against China, think of all the things that we could accomplish. We could cure cancer. We could develop FTL travel. We could find what every human has thought about at one point or another, and what every human being wishes we would find: extra-terrestrial life.

What are your thoughts?