5 Most Developed Countries in the World

2. China

R&D Spending : 2.4%

China is fast emerging as a global competitor to the United States, with its economy projected to surpass the latter’s around 2030 according to research from CEBR. Its GDP size is $18 trillion as of 2021.

China’s share of KTI output in its GDP is already higher than that of the US, at 16% as of 2019 but most of it is made up of medium-tech KTI industries while its high-tech output is lower than that of the United States, at 4.9%. However, its lower only marginally.

Its global KTI-output share is at 22% and it is second only to that of the US. Most of China’s KTI revolves around medium-high-tech product manufacturing and it is the largest exporter of high-tech products in the world.

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