R&D Dollars

China is on target to outspend both the US and the European Union on research and development by the end of the decade, reports University World News.

A new report from the Organisation for Economic Co-operation and Development says that as budgets tighten across the US and Europe, China is aiming to spend some 2.5 percent of its gross domestic product on research by 2020. In 2012, UWN notes, it spent nearly 2 percent of its GDP on research.

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