China Set To Surpass US In R&D Spending In 10 Years

dcblogs writes "China is on track to overtake the U.S. in spending on research and development in about 10 years, as federal R&D spending either declines or remains flat. The U.S. today maintains a large lead in spending over China, with federal and private sector investment expected to reach $424 billion next year, a 1.2% increase. By contrast, China's overall R&D spending is $220 billion next year, an increase of 11.6% over 2012, a rate similar to previous years. This finding is shared by the President's Council of Advisors on Science and Technology. 'China's investment as a percentage of its GDP shows continuing, deliberate growth that, if it continues, should surpass the roughly flat United States investment within a decade,' it said in a report last month."

Comments

Re:Why not?

[K. S. Kyosuke]

America has become an anti intellectual society

That much is obvious even to the densest dim-wits since the appointment of a "Christian Scientist" as the head of the House Committee on Science, Space and Technology.

Re:Just think...

[ahabswhale]

What does debt have to do with capitalism? There is nothing about debt that precludes capitalism.

Had we let the auto companies fail, what would have been created in its place? Nothing. The expense of setting up a new car company is unbelievably expensive. All we would have gained by letting them fail was the loss of over one million jobs and the death of the American auto industry. I fail to see how that helps capitalism.

You make a point of singling out unions but fail to mention all the banks that were too big to fail and have no unions. Should we have let them fail? By your logic, we should have. But by all accounts we would have entered a full blown depression (ala 1939). Keep in mind we were losing over 700,000 per month at the time. Are you pro capitalism at the cost of a depression? I hate to tell you this but unrestricted capitalism is what caused the problem in the first place. Saving the banks (as disgusting as that feels) is what saved capitalism. The reason social programs like medicare exist is to save capitalism. Study history and you'll understand why.

What most capitalism purists fail to get is that there are no pure systems and that includes the economic system of capitalism. Do you think the stock market is a free market? Not even close. Such things just don't exist.