Posted by Michael Wonder on 15 Nov 2021
Competing with, and learning from, China in the global pharmaceutical innovation race
15 November 2021 - President Joe Biden has promoted investment in technology based industries, including the life sciences, as a strategic response to the surge of innovation in China, but the political prospects of his ambitious proposals are dim.
They compete with spending priorities dear to Democrats and tax cut priorities dear to Republicans.
They fit uncomfortably within the dominant policy paradigm, according to which government should not “pick winners” or otherwise support the commercialisation of scientific research. The safest bet is for continued legislative gridlock.
