R&D Spendings
With the rise of the local economies, the spending on scientific research on the Asian continent also increased with a huge percentage. In 2020 China, outstripped the U.S. in putting out research papers in the natural sciences as the country’s spending on R&D hit a record high at 2.23 percent of its GDP in 2019. This provides a major opportunity for multinational companies willing to outsource their R&D centers to such innovation powerhouses like India or China.
The aim of the Dashboard is to delve deep into the spending on research and development and to share insights about important changes into the science and engineering landscape of the major Asian economies.
“According to the World Intellectual Property Organization's Global Innovation Index, Singapore and South Korea are two of the most competitive economies in the world, owing considerably to their deployment of technology in the workplace and their upskilling programs. In 2017, Samsung overtook Intel as the world's largest semiconductor supplier and edged out IBM for the most patents filed. In 2021, South Korea will open the International Science Business Belt in Daejeon, a complex encompassing eighteen universities, science parks, research centers, and a heavy ion accelerator.”
The Future Is Asian: Global Order in the Twenty-first Century
by Parag Khanna p. 194