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Sunday, December 03, 2006

China overtakes Japan on R&D


The country is expected to invest $136bn in research and development this year after growing by more than 20 per cent in the past year, ahead of the the $130bn from Japan but still well behind the $330bn the US will invest, the OECD said.<

The report is the latest indication of the dramatic rise in research spending in China, which is beginning to cause concerns among western governments.

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This is copied from here.

The number must be based on PPP. But it reflects the fact that R&D is booming in China.

China had the lowest performance in her history between the start of the reform and 1991 when the Gulf War happened. China invested only 0.7% of her GDP in R&D. The number has being increased since then. in 2005, 1.34% of China's GDP was invested in R&D. More cash is planned for R&D. The number will be increased to 2% in 2010 and 2.5% in 2020 which will be in par with developed countries.

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