R&D Spend Statistics: China To Surpass U.S. In 10 Years

All those budget cuts and addressing short term issues has to show somewhere - and R&D is the area that takes a hit. We spotted this stat today, that China will overtake the US in R&D spend in about 10 years (Source). Today, China spends just half of what US spends on R&D - China spends $220 billion and the US spends a whopping $424 billion.