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US Spends Less on Research; Asia's R&D Grows

U.S. spending on biomedical research has declined, and now represents less than one-half of such spending worldwide. The New England Journal of Medicine says research spending by China and Japan has increased dramatically during the past five years, but those countries still spend about half as much as the United States. The United States funded 51 percent of the world's biomedical research in 2007, but by 2012 its share fell to 45 percent. Medical researchers and economists who...

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