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+ - China set to surpass U.S. in R&D spending in 10 years->

Submitted by dcblogs
dcblogs (1096431) 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 R&D 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, according to the 2013 Global R&D Funding Forecast prepared by Battelle, a research and technology development organization, and R&D Magazine. 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."
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China set to surpass U.S. in R&D spending in 10 years

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