China has overtaken Japan to become the second biggest spender on research and development behind the US, a report from the Organisation for Economic Co-operation and Development revealed.
The country is expected to invest $136bn in research and development this year after growing by more than 20 per cent in the past year, ahead of the the $130bn from Japan but still well behind the $330bn the US will invest, the OECD said.
The report is the latest indication of the dramatic rise in research spending in China, which is beginning to cause concerns among western governments. [Full Text]
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