China Closes Gap with U.S. on R&D Investments, But Hasn’t Caught Up
China has been rapidly closing the gap with the United States when it comes to research and development investments, experts tell us. But President Joe Biden left the impression in a Michigan speech that the U.S. has already fallen far behind China.
“You know, we used to invest more in research and development than any country in the world and China was number eight — or, excuse me, number nine. We now are number eight and China is number one,” Biden on May 18 over 10 years in an attempt to gain congressional support.
