Wake up call for European R&D investments

23.08.2005
New statistics show that the growth rate of research and development investments have stagnated on the 2003 level of 1.9 % of GNP. It is thereby unlikely that the EU will meet its target to boost research spending from the current 1.9 % to 3 % of GNP by 2010.
“We must heed this wake up call,” said European Commissioner for Science and Research Janez Potocnik. “If the current trend continues, Europe will lose the opportunity to become a leading global knowledge-based economy.” In comparison, the USA spends 2.6 % of GNP to R&D investments and Japan 3.2 %. While the EU still is ahead of China in R&D investments, China’s investments grows at about 10 % per year.

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