A recent U.S. National Science Board report warns that although the United States remains a powerhouse in knowledge- and technology-intensive industries, the country's predominance in science and technology is fading. The report says the rise of increasingly competitive emerging economies and underinvestment in research and development might translate into a less-dominant, less-productive U.S. economy in the future.
"Emerging economies understand the role science and innovation play in the global marketplace and in economic competitiveness and have increasingly placed a priority on building their capacity in science and technology," says National Science Board chairman Dan E. Arvizu. The report highlights the rise of newly industrializing nations in Asia more than it does stagnation or decline in the United States. In addition, the U.S. remains the single biggest investor in research and development, spending about $429 billion a year, compared to $208 billion for China and $147 billion for Japan, according to the report.
However, the share of annual global research spending in the U.S. has declined from to 37 percent in 2000 to 30 percent in 2011. Meanwhile, the share of research done by Asian countries grew to 34 percent from 25 percent, with China's share alone growing to 15 percent from 2 percent in 2000.
From The New York Times
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