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The United States is not the only country to recognize the tremendous economic potential of nanotechnology. While difficult to measure accurately, estimates from 2008 showed the governments of the European Union (EU) and Japan invested approximately $1.7 billion and $950 million, respectively, in nanotechnology research and development. The governments of China, Korea, and Taiwan invested approximately $430 million, $310 million, and $110 million, respectively (Roco, Mirkin, and Hersam, Nanotechnology Research Directions for 2020, 2010). This compares to 2008 U.S. Government spending of $1.55 billion.
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