If the OECD is to be believed, the elephant in the room is that China negated the value of western R&D by about $500B per year since 2010.
That’s why being a fast follower is so valuable, you get everyone else to waste money on the wrong ways to build things. It also causes R&D to show much worse returns.
That’s why being a fast follower is so valuable, you get everyone else to waste money on the wrong ways to build things. It also causes R&D to show much worse returns.