371 billion yuan (US$52 billion) on science and technology in 2024 — a 10% increase compared with the previous year
This is about a quarter of what the US government spends according to this report from the White House which shows about $200 billion in research dollars across all government agencies, although I'm sure this isn't a perfect comparison.
The PRC is increasing funding of science. But at what cost!!!!?!?!
at the cost of evergrande bondholders 😭
According to the article:
This is about a quarter of what the US government spends according to this report from the White House which shows about $200 billion in research dollars across all government agencies, although I'm sure this isn't a perfect comparison.
to think that a huge portion of that budget could've been used to save evergrande bondholders 😢