US Not Alone In Worrying About Competitiveness
from the them-too dept
Earlier this year the World Economic Forum put out a report proclaiming that the US was no longer the world’s hotbed of innovation and that Denmark had assumed the top spot. The warning about US competitiveness was nothing new, but this particular report seemed to ring a little bit hollow, considering that there don’t seem to be a whole lot of Denmark-based companies making big waves. It seems, however, that these worries aren’t unique to the US. A new report from the European Commission warns that the EU is falling behind in terms of R&D spending, and that the money that is invested in R&D tends not to be as productive as the money that’s spent on R&D in the US. The report also warns that, as a percentage of GDP, R&D spending in Europe will soon be surpassed by China. Considering the way many European economies are structured (it’s got to be hard to run a tech startup in France, where there’s a mandatory 35-hour work week), this report seems plausible, though mainly it just reinforces the idea that the US is not alone in feeling like it’s falling behind.