Investment in R&D in the United States and other countries increased rather rapidly during the decade from the mid-1970s to the mid-1980s, although America's most rapid growth occurred between 1994 and 2000. The trend in recent years has been mixed, with Japan, Germany, and France still showing steady increases in spending up through 2006, while China's rate of increase is such that they will begin to surpass countries like France in a few years. The United States has also had mixed progress, with R&D investment slowing significantly after the turn of the century. These trends are shown in Figure 17.3. The expenditures as shown in Figure 17.3 have been converted into constant 2000 U.S. dollars, taking into account inflation ...

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