Overseas research and development conducted by U.S. multinational corporations has grown nearly four-fold in the last two decades, and much of that growth has been in developing economies. Britta Glennon, an assistant professor in the Wharton School of Business at the University of Pennsylvania, joins David Dollar in this episode to explain what’s behind this growth and which countries have become new hubs for R&D investments. Glennon and Dollar also discuss the national security implications of this trend and what it signals about the likelihood of any decoupling between the U.S. and China.

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