The United States is not the only country to recognize the tremendous economic potential of nanotechnology. In 2007, the Russian government planned to take its export revenues from oil and gas sales and invest it in nanotechnology research and development. During the next 3 years, Russia will invest more than $1 billion in nanotechnology so that it can become less dependent on raw materials.
Brazil had a projected budget for nanoscience during 2004 to 2007 that included creating three institutions, four networks, and recruiting 300 scientists to work in nanotechnology research. Some of the Brazilian researchers are interested in the use of magnetic nanoparticles to remove oil from oil spills and then be able to recycle the nanoparticles and the oil. Other countries pursuing nanotechnology include Thailand, Philippines, Chile, Israel, Mexico, Argentina, South Africa, Japan, China, and Korea, as well as several European countries.
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