U.S. dominance in science faces Asian challenge: report
- This month, a report has been released by the National Science Board, which indicates that the dominance of the United States in the field of Science and Technology is gradually subsiding.
- This report cites the examples of the authoritative power sourcing industry of the United States, as well as other technological manufacturing, pharmaceutical, and energy industries.
- It also highlights that 40 percent economic output of United States comes from these industries, which are almost in the same lines as any other developed country.
- Report suggest that under-investment in the field of science and technology because of central price curtailing policies, may lead to less productive and less dominant economy of America in the future. On the other hand, competitive emerging economies have increased their investments.
- Rising economies have understood that science and innovation plays an important role in staying competitive at the global market.
- National Science Board is a body which administers the centrally funded National Science Foundation. They have also pointed out to the Congress and White House that there is a remarkable rise of new industries in Asia, while there has been a clear decline in the United States.
- In the field of research and development, the United States is the biggest investor which spends nearly $429 billion annually. Their expenditure is very high in comparison to China, which is currently spending $208 billion. Japan is third in the list with spending of $147 billion.
- However, this share of United States spending on annual global research has now declined sharply from 37% on 2001 to 30% in 2011. At the same time in Europe, this decline was from 26% to 22%.
- Meanwhile, spending by Asian countries on research has increased from 25% to 34%. Share of China which was previously 2 percent in 2000, which has now increased to a remarkable 15%.
- In comparison to the Unites States, Asian countries are now performing more research and development. China and the United States are going at almost neck-to-neck pace in the high tech manufacturing industry.
- In 2012, investment of $100 billion has been done by emerging economies, from which $60 billion has been invested by China alone. The Unites States has spent only $29 billion.
- The reports finding says that the U. S. is lagging in the spending of research and development, but the scientists are urging for the need to spend on future innovation.
- Recession was another significant reason why the research has taken the backseat in the United States. Although the companies had to hold themselves back during the recession, they were still able to sustain themselves because of the stimulus provided by the U.S. government.
- However, this study did not give sufficient inputs on the effects of “sequestration”, which is the effect of price cuts in the long term. In the recently concluded bipartisan deal however, the congress has made efforts to loosen up the spending budget to some extent.
- U.S. dominance in science faces Asian challenge: report