China Is Getting Less Bang for Its R&D Buck Than Peers
(Bloomberg) -- China appears to be getting less bang for its R&D buck than other countries. Data on patent applications filed under the Patent Cooperation Treaty show that for every $1 million in R&D expenditure, China generates 0.08 patent applications -- that’s less than half the OECD average, and below Japan, South Korea and Germany. Research by Bloomberg Economics suggests that’s partly because a dominant state presence means that more efficient private-sector firms are crowded out, limiting potential for future growth.
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