This is CBS. I am the world. I'm John Bachelors. Artificial intelligence, cloud computing,

the crisper of the DNA search, all of those wonderful tools that are now featured in

Science Magazine, Nature Magazine, and in headlines around the world. What does that tell

us about the competition in the world by researchers and modelers and developers and scholars? I

welcome Arjun Romani, who is global business for the economist magazine, specializing in technology,

and he's going to now take me to what appears to be a contest between the People's Republic of

China and all the rest, described as the West, led by the US, but their elements around the world

from Taiwan to UK to India. So I welcome Arjun to comment on what was then 2008 and what is now

2022. Arjun, congratulations on this revelation, the two systems next to each other with some

profound differences. First, where we started. I learned from you then in 2008, the PRC was putting

in only a third as much of the West in R&D by 2020 that had come up to 85% and it continues

to climb. Is R&D or development or high-end investigation? Is that now a priority in the People's

Republic of China? Good evening to you. Well, thank you for having me, John, and it is. It's a key

priority for China, and you can actually see that in the Party Congress report that just came out

in the last few days. If you just look in the report on it mentions science and technology as a

national security priority, and it's actually overtaken a lot of other prior considerations like

economic reform as a priority for the Chinese Communist Party, and you can see that if you read the

report, the number of mentions that science and technology has actually overtaken these other fields.

Funding is everything when it comes to science. You know this because so much time is spent on

making applications for funding for your lab or your researchers, your better idea. So first we'll

go to the PRC's model of funding. Yes, of course, it's government funds, but how so? How do they

experiment? What is new for the margin? That's a great question, and the way China funds R&D and

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