Electronics Production | July 27, 2005
R&D investments in Europe<br> to be passed by China
EU's goal is to be the "leading global knowledge-based economy" but the figures show that only 1.93% of (GDP) in 2003 were devoted to this area. This can be compared to US who spends 2.59% of GDP on R&D fundings. The figure for Japan was 3.15%.
"We must heed this wake-up call," EU research commissioner Janez Potocnik said at a media conference in Brussels. "If the current trends continue, Europe will lose the opportunity to become a leading global knowledge-based economy", he adds. EU's goal is to reach 3% of R&D spending by 2010. "If these trends in the EU and China continue, China will be spending the same amount of GDP on research as the EU in 2010 - about 2.2%," Mr Potocnik said.