1/31, 6:56 PM (Source: TeleTrader)
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Biden: Investment in R&D down to 0.7% of GDP

The United States has to have the best infrastructure to have the best economy in the world, President Joe Biden underlined on Tuesday.

Delivering a speech on the Hudson River Project in the state of New York, Biden claimed that the country had invested 2% of its GDP into research and development four decades ago and that the number is down to 0.7% now.

The US used to rank first in the world when it came to R&D, but has fallen to number nine, Biden reiterated. He also pointed out that China jumped from the eighth spot on the list to second place. "We risk losing the edge as a nation and China and the rest of the world are catching up for decades," he asserted.

Baha Breaking News (BBN) / MS