Even Economist cannot avoid the temptation to sensationalize news? Here’s an excerpt from a recent Economist article called “Rising in the East: Asia is steadily eroding America’s leadership in research spending”.
“Every year around $1 trillion is spent on research and development (R&D) in computing, telecoms and electronics; America accounts for over one-third. But while corporate R&D in America and Europe grew by 1-2% between 2001 and 2006, in China it soared 23%. China is now close to surpassing Japan in total research spending, from almost nothing a decade ago. And as a percentage of GDP, China’s corporate R&D spending is almost on a par with the European Union’s (around 1%).”
All that I can deduce here is the America spends 300 Billion $ per annum on R&D. The rest of the data and percentage (in this excerpt and the full article on economist) is practically useless in proving that “Asia is steadily eroding America’s leadership in research spending”. It makes me suspicious. I cannot but help think that when 1 out of 194 countries accounts for 1/3 of the world’s R&D spending… it really isn’t that easy to “erode its leadership”. There may be signs, but merely the fact that China’s R&D soared by 23% is not one of them ..