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As the U.S. Cuts R&D Spending, China Is Raising Its Stake

As a percentage of total federal spending, research and development is at its lowest levels since 1956, the year before the Soviets launched Sputnik. The past five years have seen a particularly sharp drop: Federal funding for R&D in areas such as medicine, defense, energy, and agriculture has dropped 10 percent since 2009, adjusted for inflation, according to a new analysis from the Congressional Budget Office.

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