In a fascinating Science Progress blog entry, Jonathan Moreno takes a stock of how America is performing in terms of its investment in the life sciences. He writes:
So how is the country doing in biotech investment? A fascinating and richly detailed new industry report from Jones Lang Lasalle allows us to reach two salient conclusions: first, the United States is holding its own as the global leader; and second, since the 2007 downturn, industry clusters in China, India, and Singapore have displaced traditional powers Ireland, Italy, Germany, and Spain in direct pharmaceutical investment.
This result confirms the narrative we hear in so many fields these days about the turn toward Asia, and well justifies the Obama administration's reassertion of American interests as a Pacific power.
As you saw in the block quote, Moreno's entry summarizes a report (.pdf) from Jones Lang Lasalle, a financial and investment services firm. It also identifies several "clusters" in which, with the right funding and policies, biotechnology might begin to flourish.