USA Today article on innovation in China vs innovation in USA…surprise, we’re taking second place. An unfortunate trend if true…with big implications for future jobs in US.
While the United States is still at the top in total investment in research and development — spending $500 billion in 2015 — a new Boston Consulting Group (BCG) study released Monday has made a startling finding: A couple of years ago, China quietly surpassed the U.S. in spending on the later stage of R&D that turns discoveries into commercial products. And at its current rate of spending, China will invest up to twice as much as the U.S., or $658 billion, by 2018 on this critical late-stage research.
Kudos to Gary for link.