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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.


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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