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The Big Shift

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Published : March 15th, 2012
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Here are two reports that underscore the long-term geopolitical shift that is currently underway (which happens to be a key theme of my third book, When Giants Fall):

"Poll: Voters Worried US Falling Behind in Science" (The Hill)

More than three-quarters of likely voters think the United States is losing its edge in science, technology and innovation, according to a new poll released Wednesday.

The 2012 ResearchAmerica poll aims to bolster the case for increased federal spending on medical and other forms of research in a political year dominated by tight budgets. Some 77 percent of respondents said they agree the United States is losing its edge, while a slight majority — 51 percent — thought a bigger slice of each healthcare dollar should be spent on research (the current ratio is 5.5 cents per dollar).

"China Continues Pouring Cash into Basic Science" (Times Higher Education)

The Chinese government's budget for basic research is set to increase by more than a quarter this year.

According to Science magazine's Science Insider website, a draft budget published last week pledges more than 32 billion yuan (£3.3 billion) for basic research in 2012.

This represents a 26 per cent increase on last year's budget.

Overall, Chinese state spending on science and technology is set to increase by more than 12 per cent to nearly 230 billion yuan.

The news follows a succession of lavish increases for Chinese science funders in recent years.

The budget of the National Natural Science Foundation of China, the country's main competitive funding agency, was doubled between 2009 and 2011.

Michael J. Panzner 



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Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
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