30/10/08

Science on the rise, despite current economic climate

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Despite the current economic climate, the strength of science, technology and innovation in developing countries is continuing to grow, says an editorial in Nature.

According to a report published by TWAS, The Academy of Sciences for the Developing World, even smaller countries such as Chile, Malaysia, Rwanda and Vietnam are prioritising investment in higher education and technology.

While drops in both oil prices and market confidence could prove risky for smaller, poorer countries, there is now more hope for them than during previous economic crises.

Whereas countries borrowing from the International Monetary Fund and the World Bank were previously told to cut back on government spending, now there is talk of rebuilding and strengthening public institutions. And this is likely to be the case for both richer and poorer nations.

The editorial concludes "there is no doubt the next few years will be difficult, but for the countries of the developing world, the answer to their present problems is not to undo the gains of the past quarter-century."

Link to full article in Nature