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Will China have 4th gen nuke power before us?

CNET news article Discussing Bill gates backed TerraPower’s new nuclear reactor process that operates on waste products of earlier Nuke plants (see diagram above).

The company plans to begin construction on its first plant in 2015, the question is “where?” Discussion with the Chinese Ministry of Science and Technology are “very good” according to Gates. Will the U.S. be the beneficiaries of our own tech? OR will politics place it into the hands of competitors?