The Harvard University system has reigned supreme in publications with high scientific impact, but no longer. The New York Times reports that the top science research university in the world is Zhejiang University, and that Chinese schools hold seven of the top ten slots. The quality and volume of research out of China has been getting recognition in academic circles, and their dominance is inarguable. Full rankings available at the CWTS Leiden Ranking website.
The importance of US-based research is still significant, but make no mistake: a sea change has occurred. It will take reform and a big push to bring America's research institutions back to the forefront. It's all up to our students—we're all behind you!