I have to point out that we ranked 20th for spending on research and development by the private sector. This is an important distinction, since Canada is one of the countries where the public sector spends more than average. The problem is that the way it spends is not necessarily always effective.
The consequences of this situation are already serious today, but they might become even more serious in the future.
When we compare overall investment of countries in research and development as a proportion of GDP, China, for instance—I am referring to greater China, that is, the Popular Republic of China—is not too far from Canada. Korea probably invests more than we do, not to mention smaller countries like Israel and Singapore.
Not only are we in a weaker situation compared to other G7 countries, but it is becoming increasingly weaker compared to countries which have become fierce competitors in the area of international trade.