According to a recent study, China is well ahead of the United States and many other Western nations in terms of talent retention and the development of cutting-edge technologies. According to the research, China is gaining market dominance in some sectors and now holds a ‘stunning lead’ in 37 of 44 essential and emerging technologies.
The study revealed that China is home to all 10 of the top research universities in the world in some categories. The study also advised governments to invest more money in research.
The Australian Strategic Policy Institute (ASPI) produced the report after monitoring the fields of defence, space, energy, and biotechnology.
The United States State Department is credited with funding the report that was released on Thursday. The study found that the US was often second-ranked, although it led global research in high-performance computing, quantum computing, small satellites and vaccines.
The report said: ‘Western democracies are losing the global technological competition, including the race for scientific and research breakthroughs.’
The study has urged the democratic nations to collaborate more often to create secure supply chains and ‘rapidly pursue a strategic critical technology step-up’ as it highlighted that China had established a ‘stunning lead in high-impact research’ under government programs.
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