US President Donald Trump’s administration will redirect billions of dollars in federal research funding away from universities to individual scientists and AI-focused projects, arguing the overhaul is needed to help the US compete with China.The plan, outlined in a White House Office of Science and Technology Policy report released on Tuesday, comes as the administration warns that China has reached parity with the US in research and development spending over the past 20 years, “a situation America did not face even during the Cold War”.“Beyond the sheer scale of its spending, Beijing is treating scientific research capacity as a central…