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Thursday, March 23, 2006
China R&D
The Asian Wall Street Journal published a piece on R&D in China recently. A few numbers that stuck out:

  • Chinese Premier Wen Jiabao said that the government will increase science and technology spending this year by 20%
  • The country is planning to boost R&D spending to 2% of GDP by 2010 and 2.5% by 2020. The US spends 2.7% of GDP and China spending last year was 1.3% of GDP. India is at $4.9B (.77% of GDP)
  • Last year, total R&D spending (not including foreign investment) was $30B.
  • 90% of china's $220B high-tech exports are produced by foreign companies

The reality is that China is doing very little of their own innovation. Most of the innovation is from abroad (ie if all foreign companies pulled out, China would have essentially no real technology innovation within its borders). Clearly, the government is waking up this fact and this will likely start a 10-15 year transition to a service/technology economy (as opposed to low cost mfg...supported by a pegged currency).
posted by Rob @ 12:50 AM  
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