China to overtake Japan''s R&D spending: OECD survey
05 Dec 2006
China is fast catching up with the US on its research and development spending. It is all set to overtake Japan to become the world's second largest spender R&) in 2006, according to a forecast by the Organisation for Economic Cooperation and Development (OECD).
The OECD says that China is predicted to spend around $136 billion on R&D in 2006, ahead of Japan's forecast for $130 billion. The US, says the OECD, will remain the world's leading R&D spender $330 billionn.
The EU-15, which includes the UK, France and Germany, will spend between themselves $230 billion.
In the decade ending 2004, China's R&D as a percentage of its economy, doubled from 0.6 per cent to 1.2 per cent, while the number of Chinese researchers increased by 77 per cent. It now ranks second with 926,000 people engaged in research, behind 1.3 million in the US.
OECD
research suggests a greater emphasis on science is fuelling
growth along with the greater economic growth.
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