Latest news with #brainDrain
Telegraph
a day ago
- Business
- Telegraph
How Italy is luring Britain's fed-up millionaires
Italy is experiencing a profound brain drain of its educated young people. Fabio Panetta, the governor of the Bank of Italy, warned last week that it risks impacting the country's economic growth. Yet at the same time, it is attracting disenchanted multi-millionaires from overseas to embrace la dolce vita, thanks to its flat tax regime. By paying a lump sum of €200,000 (£168,000) annually on their foreign-sourced income, they could in theory save hundreds of thousands – even millions – in tax. For example, someone earning £600,000 in the UK would pay £270,000 in income tax and National Insurance; in Italy their flat-tax bill would be £168,000, and they can avoid Italian tax on overseas earnings. Family members can also be added to an individual scheme at a flat tax of £21,000, and you are also exempt from any wealth and inheritance taxes. Once you are in the scheme, you keep paying the tax at that rate or you must leave it. Even though this flat rate has doubled since the scheme began in 2017, it has become more popular than ever, according to agents and advisers. 'High net worth individuals are worried that Italy could either increase the annual amount or that they might cancel the scheme,' says Danilo Orlando of Savills. In London, the abolition of the non-dom regime and changes to inheritance tax breaks on assets held in overseas trusts have sent ultra-wealthy people fleeing. Italians describe their flat tax scheme as 'svuota Londra' or 'empty London' – such is the allure of its tax breaks. 'It is tailor-made for somebody like me' The attack on non-doms is not just persuading disillusioned Britons to depart the capital, but is also dissuading other nationalities from arriving. Jack* and his family had planned to move to London when they fell out of love with life in Australia during the pandemic. Instead, they swapped Melbourne for Florence. 'I don't think we would have moved to Italy if the flat tax regime wasn't available,' he says. 'The [regular] income tax levels and less generous capital gains concessions in Italy (on worldwide income and assets) are about 30pc to 50pc higher than in Australia, while in the UK they were roughly the same,' says Jack, 45, who runs a private management consulting business. Even though his wife is Italian, they hadn't considered moving there before. 'The flat tax regime cut my tax bill by 60pc and is tailor-made for somebody like me – a self-employed professional with all business activities and assets in foreign jurisdictions.' He says the cost of living in Florence is 35pc to 40pc cheaper than Melbourne. 'Florence worked best for logistics and education,' says Jack, whose children are 12, 14 and 18. 'But also the property prices are insanely reasonable vis-a-vis Melbourne and Sydney…and the food is crazy good.' The enviable lifestyle of Italy has long been a massive pull for second home buyers, but the flat tax is behind the shift to relocation, says Orlando. North Americans lead the way – mostly in tech, finance or crypto – followed by British people. 'Italy's low inheritance tax is another factor – it's among the lowest in Europe,' he adds. Inheritance tax is only 4pc for a spouse and children – and 8pc for unrelated beneficiaries – way below the UK's 40pc. From 2027, pensions will be subject to inheritance tax in the UK. 'Milan is becoming a mini London' Flat tax movers are a small cohort – according to the Ministry of Finance, there were around 4,000 between 2017 and 2023, plus an estimated 1,000 since then. The scheme is only open to those who have not been tax residents in Italy for at least nine of the previous 10 years. Their impact is being felt in property markets and wealthy enclaves. 'A discreet yet powerful movement is reshaping the demographic of northern Italy, particularly in Milan and around Lake Como,' says Sara Zanotta, founder of Lakeside Real Estate in Como. 'Many movers are bringing their families, staff and entire lifestyles with them.' Milan is the obvious choice as Italy's financial centre, although not always the final stop. Since 2015, when it hosted the Milan Expo, it has evolved into a global city, offering good schools and the Alps and lakes within easy reach. To cater for these new arrivals, new private members clubs have opened up, such as The Wilde by Gary Landesberg, who previously owned Mayfair's the Arts Club, as well as a Soho House and Casa Cipriani. Michelin stars are multiplying and so are pupils at the British School of Milan, which is expanding. 'Milan is becoming a mini London,' says Roberto Magaglio, of Engel & Volkers. 'Since the abolition of the [UK] non-dom regime, billionaires are asking their private office, 'Where do we go?'. Milan is now full of French and English-speaking people. 'Rental rates are high [for Italy], but way lower than London. The most luxurious apartments might rent for €10,000 a month.' In prime central London, they cost that per week. Magaglio adds that while this is a 'very small market' of these ultra-high earners, there is still a shortage of turnkey trophy apartments to suit this new type of renter. Many want to live in the fashionable and bohemian Brera district, yet small apartments in the former blue-collar area are challenging to renovate. They don't come with large balconies or gardens – 'you don't even see a tree', says Magaglio. Those from the UK and France often bring large families, Magaglio adds – lower Italian inheritance tax is also a huge attraction for the French. 'Return of the brains' To arrest their brain drain, the Italian government offers the 'Rientro dei Cervelli', literally the 'return of the brains' scheme, a 60pc tax exemption on income for five years for highly skilled workers and expats moving back to Italy. It was recently made less generous, and is also open to foreign nationals, including British people. As a result, there are more highly skilled returning expats buying homes, which is helping to fuel demand for Milan's most expensive properties. In the year to December last year, the average price per square metre increased by 7pc to €18,500, according to Knight Frank. By contrast, the equivalent in central London fell by 5.6pc. In Milan, the flat-taxpayers always rent first, say agents, and some choose to rent in modern skyscrapers such as the Bosco Verticale or those in CityLife. With luxury blocks thin on the ground, developers are looking to profit from this new demand. A 220 square metre flat in a new block with vast terraces and amenities in the fashionable district of Tortona will cost from €4m to €5m, according to Savills. Those seeking more green space or a smaller city are looking to nearby areas with good international schools, says Diletta Giorgolo, of Sotheby's International Realty, who deals with around 20 flat tax buyers per month. 'Monza and Varese are popular – or the lakes, with €5m-€10m being spent on a home. French and South American flat tax buyers is a new trend.' The Italian lakes and specifically Lake Como, is the second-favourite choice for flat-taxpayers. A recent example was a British family from London, with the father working for one of the five biggest US tech companies, and a daughter at the International School of Como, which is expanding to cater for rising demand, according to Sara Zanotta. Its senior school fees start from £16,278 per year. 'We are seeing many flat tax buyers from the UK and US,' adds Giorgolo. 'They buy, not rent, spending €3.5m to €5m on a nicely renovated villa. These properties often sell before they go on sale – we have a waiting list. There is also growing interest from investment funds.' 'The bureaucracy is real' The flat tax regime does not exempt owners from Italian property taxes or income tax on rental income from an Italian property – or the complexities of local bureaucracy. Zanotta says the British family she worked with had a 'nightmare' getting their investor visa. Anyone on the flat tax regime who is not a European citizen needs a visa. They usually go for the investor visa (Italy's version of the golden visa) which requires investing either €250,000 in a start-up, or €500,000 in a company, a €1m philanthropic donation or €2m on government bonds. Because investing €500,000 in a company involves less risk than the start-up, it is usually favoured by clients, Daniel Shillito, of D&G Property Advice, who helps flat tax applicants choose where to live in Italy. He worked with a former London non-dom moving to Rome, where there are more super-prime homes than in Milan. 'Rome is a much more liveable city than Milan and has more schools,' says Shillito. 'Many people enquire about Milan then see the limitations. They realise they cannot transplant their Chelsea town house into Milan.' A villa on the fringes of Florence might be more similar in style, so Bill Thomson, of Knight Frank, sees people pivot to Tuscany. 'The typical flat -tax buyer spends at least €5m. Young guys in tech from California or New York favour the city centre so the limited supply is impacting prices.' New high-end development projects are popping up in Florence too, including one of town houses with gardens near Via Romana from €2.6m. He's selling a three-storey town house in the centre for €15m – the American owners came for the flat tax, but are now leaving town. After five years of ownership, they can be spared the Italian capital gains tax. Families will often live in the hills outside Florence, like Jack, who says the process of moving was 'shockingly easy'. He adds: 'It takes a long time, the bureaucracy is real, but it functions well. You need an accountant, a lawyer and somebody to keep them coordinated. It cost me €40,000 to €50,000 in professional services and government fees, but we did expedite the process.' Does he miss Australia at all? 'I miss family, friends, cricket and Australian rules football. But we have a steady stream of guests to our new home.'
Malay Mail
3 days ago
- Business
- Malay Mail
Techcombank Expands Overseas Talent Roadshow 2025 to Europe Following U.S. Success
The Overseas Talent Roadshow attracted nearly 1,000 Vietnamese professionals in various majors. HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 4 June 2025 – After a successful launch in Los Angeles, Techcombank and ecosystem—One Mount and Masterise Group—are bringing the Overseas Talent Roadshow 2025 to Europe, with the next stop set for Paris on July 4– Los Angeles event attracted nearly 1,000 Vietnamese professionals working in technology, data, finance, and management. Held in one of the U.S.'s most dynamic innovation hubs, the roadshow marked a bold step in Techcombank's mission to reverse the brain drain and inspire global Vietnamese talent to contribute to Vietnam's by Techcombank CEO Jens Lottner and senior leaders, the event featured a strategic dialogue on Vietnam's economic outlook and the evolving role of the bank's ecosystem in shaping new career pathways beyond traditional banking."It felt less like a recruitment session and more like a shared vision in motion—transparent, engaging, and backed by leadership commitment," said Khoa Nguyen, a participant at the LA of the event, Techcombank hosted a virtual Techcombank Info Day featuring returnee employees, offering firsthand perspectives on career development, reintegration, and working culture in the bank sets its sights on Europe, engaging high-caliber Vietnamese professionals, especially in finance, insurance, data, and tech. The Paris edition aims to spark not only career opportunities but also the spirit of homecoming and 2022, Techcombank has spearheaded international talent campaigns in key markets such as Singapore, the UK, the U.S., and Australia. Each year, the program has expanded in scope and depth, seeking professionals with a "breakthrough DNA"—those who think big, act boldly, and are ready to grow with their organization and over 13,000 employees, a fully Agile environment, and robust learning programs like TechcomPACE, LEAP, and LinkedIn Learning, the bank has been named Vietnam's Best Workplace and a Top 9 Best Workplace in Asia 2024 (Great Place to Work®).28 June (Virtual), July 4–5, 2025 (Networking & 1:1 Career Discussion)Paris, FranceHashtag: #Techcombank The issuer is solely responsible for the content of this announcement.
Washington Post
4 days ago
- General
- Washington Post
JD Vance: To infinity ... and beyond parody
JD Vance, it is well known, contains multitudes. He once described Donald Trump as 'morally reprehensible' … and now is his vice president. He's a tough Marine who served in the Iraq War … as a public affairs officer. He's the author who wrote 'To understand me, you must understand that I am a Scots-Irish hillbilly at heart' … yet has a curious antipathy toward immigrants (his wife's parents presumably excepted), and evidence for his Scots-Irishness is sketchy. Now Vance has added to his multitudiosity: He's a historian of the U.S. space program … who barely grasps the history of the U.S. space program. Last week, Newsmax interviewer Greg Kelly took a break from slathering Vance with praise to delicately broach the possibility of a 'brain drain' from American universities if researchers decamp for more hospitable institutions overseas. The White House, as you might have heard, is working energetically to dissolve arrangements between several research universities and the government that for the past century helped make the United States the most powerful and innovative country in the world. (That this anti-science campaign is being sanctimoniously conducted under the guise of punishing schools for fostering antisemitism on campus — which many did! — adds a nauseating angle.) 'I've heard a lot of the criticisms, the fear, that we're going to have a brain drain,' the voluble vice president told Kelly. 'If you go back to the '50s and '60s, the American space program, the program that was the first to put a human being on the surface of the moon, was built by American citizens, some German and Jewish scientists who had come over during World War II, but mostly by American citizens who had built an incredible space program with American talent. This idea that American citizens don't have the talent to do great things, that you have to import a foreign class of servants and professors to do these things, I just reject that.' There's a lot to unpack here, as they say. First of all, Kelly didn't mention anything about the nationality of researchers who might leave the United States (or are downloading their boarding passes right now). Foreign governments and universities are avidly courting any and all U.S.-based researchers who feel unloved, but Vance seems to think a defunded brainiac who happens to be an American citizen is going to tell a recruiter from Aix-Marseille University, 'You can keep Provence. I'd rather work on nanotechnology in my garage. U-S-A!' Let's cut Vance some slack about the scientists coming over 'during' World War II: The Jewish ones came beforehand, for obvious reasons, and the German ones afterward, because they'd been busy building V-2 rockets to rain ruin on London and elsewhere. But 'some' scientists came over? The war's end touched off a mad scramble by the United States and the Soviet Union to scoop up German and Austrian scientists, engineers and technicians, without being too picky about their Nazi connections. It was a sordid exercise, but the Cold War was kicking off. The Americans' Project Paperclip and other efforts eventually brought over hundreds of these experts, including, most famously, the German rocketry mastermind Wernher von Braun. Their knowledge was employed mainly by the military for nuclear ballistic missile development, then urgently redirected, in the mid-1950s, to create the U.S. space program. Von Braun and his many, many colleagues were instrumental to U.S. space supremacy — and, according to the Smithsonian's National Air and Space Museum, most of them became naturalized citizens in 1954 or 1955. But being a naturalized U.S. citizen apparently doesn't make you an American, by Vance's lights. This raises the age-old question: How many generations back do you have to go — who counts? Mayflower arrival? Obviously. Great-great-grandad fought in the Civil War? Pretty good. Ellis Island arrival? Hmmm. Afghan evacuee who aided U.S. soldiers? You've got to be kidding (and, sorry, we're probably not letting any more of you in). A suggestion: Vance should ask his boss to issue an executive order appointing as a special adviser to the president, in charge of issuing gilt-edged True American membership cards to all deemed qualified. Then Vance can turn his attention to reeducating those who subscribe to 'this idea that American citizens don't have the talent to do great things, that you have to import a foreign class of servants and professors to do these things.' Remember, he just rejects that. Which is peculiar, because he invented it, in the service of scoffing about the significance of U.S. universities losing a bunch of foreign eggheads when their funding evaporates. (Also: servants?) This might be a good moment to note that one of the greatest rocketeers the world has ever seen is a South African immigrant working out of Starbase, Texas. Earlier in the Newsmax interview, Greg Kelly marveled at Vance's performance as vice president soon after taking office. 'It just seemed like you were born for the role,' Kelly said. 'It was just, it came so easy to you. And I guess, I know this sounds corny or whatever, but when did you realize that you could operate at that level? Do you know what I mean?' Oh, yeah, we know.
CNN
6 days ago
- Business
- CNN
The US has long been a research powerhouse. After Trump's cuts, other countries are stepping in
Growing up in Brazil, neuroscientist Danielle Beckman always dreamed of moving to the US for work. So, in 2017, when Beckman got the opportunity to work at the California National Primate Research Center at UC Davis, she jumped on it. 'I was so excited,' she recalled. 'Coming to the US was always the dream. It was always the place to be, where there's the biggest investment in science.' But months into President Donald Trump's second term, as his administration wages an unprecedented war on the country's top universities and research institutions, Beckman no longer sees the US as a welcome home for her or her research, which focuses on how viral infections like Covid-19 affect the brain. She told CNN she now plans to move and is looking at opportunities in Germany and France. Beckman is part of a growing wave of academics, scientists and researchers leaving the US in what many are warning could be the biggest brain drain the country has seen in decades. But America's loss could be the rest of the world's gain. As the Trump administration freezes and slashes billions of dollars in research funding, meddles with curricula, and threatens international students' ability to study in the US, governments, universities and research institutions in Canada, Europe and Asia are racing to attract fleeing talent. The European Union pledged €500 million ($562 million) over the next three years 'to make Europe a magnet for researchers.' A university in Marseille, France, is wooing persecuted academics under a new program called a 'Safe Place for Science.' Canada's largest health research organization is investing 30 million Canadian dollars ($21.8 million) to attract 100 scientists early in their careers from the US and elsewhere. The Research Council of Norway launched a 100 million kroner ($9.8 million) fund to lure new researchers. The president of Singapore's Nanyang Technological University recently told a crowd at a higher education summit the school is identifying 'superstar' US researchers and making them offers as soon as the next day. The Australian Academy of Science also launched a new talent program to recruit disillusioned US-based scientists and lure Australians back home. 'We know these individuals are highly trained, talented, and have much to offer,' said Anna-Maria Arabia, chief executive of the academy, noting the program has received 'encouraging interest' so far. Arabia told CNN the flood of institutions rushing to fill the void left by US funding cuts reflects a 'global hunger' for science and technology professionals. 'It's vitally important that science can continue without ideological interference,' Arabia said. The US has long been a powerhouse when it comes to research and development, attracting talent from far afield with its big budgets, high salaries and swanky labs. Since the 1960s, US government expenditure in research and development (R&D) has more than doubled from $58 billion in 1961 to almost $160 billion in 2024 (in inflation-adjusted dollars), according to federal data. When incorporating R&D funding from the private sector, that number balloons to more than an estimated $900 billion in 2023. The US's enormous investment in R&D has led to an outsized influence on the world stage. The US has racked up more than 400 Nobel Prizes, more than double the amount of the next country, the United Kingdom. More than a third of the US's prizes were won by immigrants. 'We have been respected worldwide for decades because we have trained succeeding generations of researchers who are pushing into new territories,' said Kenneth Wong, a professor of education policy at Brown University. But Trump's second term has upended the relationship between higher education and the federal government. Trump's gutting of federal health and science agencies has led to sweeping job losses and funding cuts, including at the National Institutes of Health, which funds nearly $50 billion in medical research each year at universities, hospitals and scientific institutions. Between the end of February and the beginning of April, the administration cancelled almost 700 NIH grants totaling $1.8 billion, according to an analysis in the Journal of the American Medical Association. The Trump administration has proposed reducing the NIH's budget in 2026 by 40%. The National Science Foundation has also slashed nearly $1.4 billion worth of grants. On Wednesday, 16 US states sued the Trump administration over the NSF cuts, which they argue will impede 'groundbreaking scientific research' and '(jeopardize) national security, the economy and public health.' Trump has also targeted elite universities and is in the middle of a legal battle with Harvard University over its refusal to bow to his administration's directives to eliminate diversity, equity and inclusion programs, resulting in billions in frozen federal funding. That battle significantly escalated this month when Trump banned Harvard's ability to enroll international students – a decision swiftly halted by a federal judge hours after Harvard filed suit. This week, the White House directed federal agencies to cancel all remaining contracts with Harvard. 'The president is more interested in giving that taxpayer money to trade schools and programs and state schools where they are promoting American values, but most importantly, educating the next generation based on skills that we need in our economy and our society: apprenticeships, electricians, plumbers,' White House Press Secretary Karoline Leavitt said on Fox News this week. 'We need more of those in our country, and less LGBTQ graduate majors from Harvard University.' Foreign institutions have already jumped on the chance to welcome Harvard students now caught in legal limbo. On Monday, Hong Kong University of Science and Technology said it will accept any Harvard students that wish to transfer, as well as prospective students with a current offer from Harvard. 'I see this as the most significant crisis that universities are facing since World War Two,' Wong said. 'We are seeing a complete reset of this collaborative relationship between the federal government and leading research institutions.' Once the beacon of scientific research, the US has now become an increasingly hostile place to study, teach, and do research. Three quarters of US scientists surveyed by the journal Nature in March said they were considering leaving because of the Trump administration's policies. Some have already jumped ship. Yale professors Jason Stanley, Marci Shore and Timothy Snyder, preeminent fascism scholars, announced in March they were leaving for the University of Toronto across the border in Canada because of Trump's affronts to academic freedom. Beckman, the Brazilian neuroscientist, said her lab has seen $2.5 million in grant funding cancelled in recent months. On top of these funding woes, Beckman said the Trump administration's crackdown on immigrants, and shifting attitudes towards foreigners in the US, has also pushed her to look for work elsewhere. 'It's the first time since I moved here that I don't feel so welcome anymore,' she said. As the US research ecosystem responds to shrinking budgets and intrusions on academic freedom, early-career scientists are going to be hardest hit, Wong said. But younger researchers are also more mobile, and institutions around the world are welcoming them with open arms. 'What we are losing is this whole cadre of highly productive, young, energetic, well-trained, knowledgeable, advanced researchers who are primed to take off,' Wong said. Other countries have long deprioritized investment in scientific research as the US absorbed the R&D needs of the world, Wong said. But that trend is shifting. R&D spending in China has surged in recent decades, and the country is close to narrowing the gap with the US. China spent more than $780 billion on R&D in 2023, according to OECD data. The European Union is also spending more on R&D. R&D investment in the bloc has increased from about $336 billion in 2007 to $504 billion in 2023, according to the OECD. For a couple of months, Beckman said she considered stepping away from her Covid-19 research, which has become increasingly politicized under the Trump administration. But then she started getting interviews at institutions in other countries. 'There is interest in virology everywhere in the world except the US right now.'
CNN
6 days ago
- Business
- CNN
The US has long been a research powerhouse. After Trump's cuts, other countries are stepping in
Growing up in Brazil, neuroscientist Danielle Beckman always dreamed of moving to the US for work. So, in 2017, when Beckman got the opportunity to work at the California National Primate Research Center at UC Davis, she jumped on it. 'I was so excited,' she recalled. 'Coming to the US was always the dream. It was always the place to be, where there's the biggest investment in science.' But months into President Donald Trump's second term, as his administration wages an unprecedented war on the country's top universities and research institutions, Beckman no longer sees the US as a welcome home for her or her research, which focuses on how viral infections like Covid-19 affect the brain. She told CNN she now plans to move and is looking at opportunities in Germany and France. Beckman is part of a growing wave of academics, scientists and researchers leaving the US in what many are warning could be the biggest brain drain the country has seen in decades. But America's loss could be the rest of the world's gain. As the Trump administration freezes and slashes billions of dollars in research funding, meddles with curricula, and threatens international students' ability to study in the US, governments, universities and research institutions in Canada, Europe and Asia are racing to attract fleeing talent. The European Union pledged €500 million ($562 million) over the next three years 'to make Europe a magnet for researchers.' A university in Marseille, France, is wooing persecuted academics under a new program called a 'Safe Place for Science.' Canada's largest health research organization is investing 30 million Canadian dollars ($21.8 million) to attract 100 scientists early in their careers from the US and elsewhere. The Research Council of Norway launched a 100 million kroner ($9.8 million) fund to lure new researchers. The president of Singapore's Nanyang Technological University recently told a crowd at a higher education summit the school is identifying 'superstar' US researchers and making them offers as soon as the next day. The Australian Academy of Science also launched a new talent program to recruit disillusioned US-based scientists and lure Australians back home. 'We know these individuals are highly trained, talented, and have much to offer,' said Anna-Maria Arabia, chief executive of the academy, noting the program has received 'encouraging interest' so far. Arabia told CNN the flood of institutions rushing to fill the void left by US funding cuts reflects a 'global hunger' for science and technology professionals. 'It's vitally important that science can continue without ideological interference,' Arabia said. The US has long been a powerhouse when it comes to research and development, attracting talent from far afield with its big budgets, high salaries and swanky labs. Since the 1960s, US government expenditure in research and development (R&D) has more than doubled from $58 billion in 1961 to almost $160 billion in 2024 (in inflation-adjusted dollars), according to federal data. When incorporating R&D funding from the private sector, that number balloons to more than an estimated $900 billion in 2023. The US's enormous investment in R&D has led to an outsized influence on the world stage. The US has racked up more than 400 Nobel Prizes, more than double the amount of the next country, the United Kingdom. More than a third of the US's prizes were won by immigrants. 'We have been respected worldwide for decades because we have trained succeeding generations of researchers who are pushing into new territories,' said Kenneth Wong, a professor of education policy at Brown University. But Trump's second term has upended the relationship between higher education and the federal government. Trump's gutting of federal health and science agencies has led to sweeping job losses and funding cuts, including at the National Institutes of Health, which funds nearly $50 billion in medical research each year at universities, hospitals and scientific institutions. Between the end of February and the beginning of April, the administration cancelled almost 700 NIH grants totaling $1.8 billion, according to an analysis in the Journal of the American Medical Association. The Trump administration has proposed reducing the NIH's budget in 2026 by 40%. The National Science Foundation has also slashed nearly $1.4 billion worth of grants. On Wednesday, 16 US states sued the Trump administration over the NSF cuts, which they argue will impede 'groundbreaking scientific research' and '(jeopardize) national security, the economy and public health.' Trump has also targeted elite universities and is in the middle of a legal battle with Harvard University over its refusal to bow to his administration's directives to eliminate diversity, equity and inclusion programs, resulting in billions in frozen federal funding. That battle significantly escalated this month when Trump banned Harvard's ability to enroll international students – a decision swiftly halted by a federal judge hours after Harvard filed suit. This week, the White House directed federal agencies to cancel all remaining contracts with Harvard. 'The president is more interested in giving that taxpayer money to trade schools and programs and state schools where they are promoting American values, but most importantly, educating the next generation based on skills that we need in our economy and our society: apprenticeships, electricians, plumbers,' White House Press Secretary Karoline Leavitt said on Fox News this week. 'We need more of those in our country, and less LGBTQ graduate majors from Harvard University.' Foreign institutions have already jumped on the chance to welcome Harvard students now caught in legal limbo. On Monday, Hong Kong University of Science and Technology said it will accept any Harvard students that wish to transfer, as well as prospective students with a current offer from Harvard. 'I see this as the most significant crisis that universities are facing since World War Two,' Wong said. 'We are seeing a complete reset of this collaborative relationship between the federal government and leading research institutions.' Once the beacon of scientific research, the US has now become an increasingly hostile place to study, teach, and do research. Three quarters of US scientists surveyed by the journal Nature in March said they were considering leaving because of the Trump administration's policies. Some have already jumped ship. Yale professors Jason Stanley, Marci Shore and Timothy Snyder, preeminent fascism scholars, announced in March they were leaving for the University of Toronto across the border in Canada because of Trump's affronts to academic freedom. Beckman, the Brazilian neuroscientist, said her lab has seen $2.5 million in grant funding cancelled in recent months. On top of these funding woes, Beckman said the Trump administration's crackdown on immigrants, and shifting attitudes towards foreigners in the US, has also pushed her to look for work elsewhere. 'It's the first time since I moved here that I don't feel so welcome anymore,' she said. As the US research ecosystem responds to shrinking budgets and intrusions on academic freedom, early-career scientists are going to be hardest hit, Wong said. But younger researchers are also more mobile, and institutions around the world are welcoming them with open arms. 'What we are losing is this whole cadre of highly productive, young, energetic, well-trained, knowledgeable, advanced researchers who are primed to take off,' Wong said. Other countries have long deprioritized investment in scientific research as the US absorbed the R&D needs of the world, Wong said. But that trend is shifting. R&D spending in China has surged in recent decades, and the country is close to narrowing the gap with the US. China spent more than $780 billion on R&D in 2023, according to OECD data. The European Union is also spending more on R&D. R&D investment in the bloc has increased from about $336 billion in 2007 to $504 billion in 2023, according to the OECD. For a couple of months, Beckman said she considered stepping away from her Covid-19 research, which has become increasingly politicized under the Trump administration. But then she started getting interviews at institutions in other countries. 'There is interest in virology everywhere in the world except the US right now.'
