US needs aggressive legislation and a three-fold increase in R&D to advance clean technology industry.
The clean-technology triumvirate of China, Japan and South Korea has already surpassed the United States in producing most of the world's clean technology, according to a report. Rising Tigers, Sleeping Giant predicts that the three nations will also grab most of the sector's available private equity in the short term if nothing changes. Released on 18 November by two Washington DC think tanks, the report also finds that the United States lags far behind the three Asian nations in terms of federal funding and legislation to support research and production in most clean technologies. China will invest $397 billion over the next five years in clean technologies, the report says, compared with just $172 billion in the United States.
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Asia takes clean-tech lead. Nature 462, 529 (2009). https://doi.org/10.1038/nj7272-529e
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DOI: https://doi.org/10.1038/nj7272-529e