The European Union allocates too few funds for research and development, approximately 2.27% of the Community and #39;s Gross Domestic Product, than its global competitors (China – 2.40% of GDP, the USA – 3.45% and South Korea – 4.81 %), it is stated in the European Round Table (ERT) Vision Paper, a document recently published on the website of the respective organization that represents the interests of companies from the European community block.
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