Trelysa Long
Advanced, traded-sector industries power the U.S. economy’s global competitiveness.1 A key indicator of strength in these industries is the amount firms invest in research and development (R&D) to produce new innovations. As China vigorously challenges the United States for global leadership in the innovation economy, it is important to assess where the two countries stand in their advanced industries’ private R&D investments.2
This report uses the EU R&D Industrial Scoreboard, which tracks the R&D investments (in euros) of the world’s top R&D investors, covering about 90 percent of the world’s private sector R&D investments, to compare U.S.- and Chinese-headquartered firms’ R&D investments in nine advanced sectors.[3] These nine sectors are aerospace and defense, electronic and electrical equipment, general industrials, industrial engineering, pharmaceutical and biotechnology, software and computer services, technology and hardware equipment, alternative energy, and automobiles and parts. The Scoreboard covers 2,000 companies from 2024 and 2,500 from 2014 because it took 2,500 companies to cover 90 percent of the world’s private sector R&D investments in 2014 but only 2,000 in 2024. Moreover, there are other caveats about this dataset. (See appendix for details.)
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