Essay on Technology in the globalised world benefits all developing countries

Table of Contents

Introduction 
Body
Conclusion 
Bibliography 

Technology in the globalised world benefits all developing countries

Introduction

Technology nowadays can be regarded as one of the driving forces that have benefitted the world.
Globalisation and technology are interrelated. It is because a globalised world is there result of economic stability
and growth of a business. Technology has further allowed companiesto incorporate innovative solutions and
business models. Developing countries are reaching newheights of social and economic success due to the advent
of technology.It should be noted that technology helped in revolutionising our world, and it has furtherhelped in
advancing business that operates in a globalised world. Mainly, InformationTechnology has played an advanced role
by fostering into new markets and bridging thecommunication gap. The advent of innovative technological tools has
solved other trade barriers,such as transportation and costs. Global markets have been rising at a fast pace and tradelimitations
between developed and developing countries has been addressed by the incorporationof advanced technological tools like cloud-based
systems. Information exchange and storagehave been more comfortable than before. The essay is divided into two parts. At first,
asupporting statement shall be presented by critically analysing the topic and following that, anopposing argument will be presented
with substantial evidence to understand the subject.

BodySupporting argument
In a globalised world, one of the primary challenges faced by developing countries is
economic prosperity. To develop a country, the government needs to create "good jobs". It will,
in turn, shall ensure economic growth and personal growth of the country’s workforce (Steger,2017).
Contrarily, the availability of good jobs is directly proportional to the existing financial
condition of a nation. In a developing country, the rise of the middle class occurs, and it is
brought about by the country's industrial standards and policies. Due to technological
advancements, the process of globalisation has been taking place at a faster rate. For instance, in
a developing country like China, the production of goods and services has been possible due to
technological advancements (Grossman & Helpman, 2015). Technology is essential for
producing products like clothes, cars and other material goods.

4

Technology in the globalised world benefits all developing countries
Further, technological advancements have supported the growth of knowledge in
developing nations. The government’s Research and Development departments are responsible
for increasing the intellectual capacity of a country. Since the 1960s, radical and noticeable
technological changes have been taking place in a developing country like China. And mainly
due to the boom of microelectronics technology; the lifestyle of people has changed drastically
(Stiglitz, 2017).
Further, it should be acknowledged that technological innovations are one of the primary
factors behind the globalisation process. Communication and information exchange have been
more comfortable than before. “Distance” is no longer a barrier that hinders communication
between regions, states, and countries. Due to the rapid evolution of web technology, the process
of globalisation has been possible. Economies are fuelled due to the rise of the middle class. In
terms of trade, manufacturing, and healthcare, it can be stated that technology has been the
constant driving force. Today China has become “world’s largest economy” due to the
development in the global healthcare system. Apart from the healthcare sector, globalisation has
also enhanced the growth of enormous markets, and mainly, in China, there is huge competition
in terms of production of innovative products.
Further, with the advent of a technological tool such as the mobile phone, it has been
possible for developing nations to improve people’s lives. Apart from bridging the
communication gap, innovative tools like mobile banking have helped in transferring money in a
faster and better way. It has been possible to get access to financial services irrespective of the
location of the users. Apart from developing China, digital technological tools have further aided
a nation like Latin America in transforming its farming system. Tools like GPS, Big Data, as
well as drones, have improved the communication process, and this has helped the country in
optimising its pesticide and irrigation facilities (Rodrik, 2019). It has also helped in improving
supply-chain management and logistics management.
Technological and economic advancements are co-related in a globalised world. The
amalgamation of both these factors often ensures productivity. In developing nations, like Latin
America and Africa, production occurs via Global Value Chains (GVCs). With the help of
GVCs, emerging economies can enter into global markets (World Economic Forum, 2019).
Another meaningful way through which technology is helping developing nations is by cost
reduction in the establishment of new businesses. Adaptation to the internet has benefitted

Technology in the globalised world benefits all developing countries
developing countries in boosting self-employment as well. Notably, women have helped by job
creation and self-employment programs of developing nations. It has been possible due to
community progress (Coulibaly, Erbao & Mekongcho, 2018). Income has increased, and
business creation and sustainability have been possible due to the easy access of internet and
mobile devices.

Lastly, it should be noted that the rise of micro-entrepreneurs has been noticed in the case
of other developing nations in Africa. Independent business owners or entrepreneurs have
generated 80% of the GDP of African countries (George et al., 2016). It has been possible
because small businesses have the potential to create new jobs, which, in turn, is helping
economies to flourish and sustain in the globalised market. The role of technology is not limited
to improving the economic state in a globalised world, but it also plays a vital role in healthcare
management. People via technological tools can increase awareness regarding threatening
diseases. Hence, the statement "Technology in the globalised world benefits all developing
countries" holds relevance in today’s world.
Opposing argument
The statement “Technology in the globalised world benefits all developing countries” has
been analysed thoroughly. It has been understood that nations have been developing due to the
powerful impact of technology. However, the statement has a certain pitfalls. Globalisation
might also harm the growth of a country. Notably, rapid technological changes should be held
responsible for the negative impact. IMF or the International Monetary Fund claims that poverty
and inequality are the negative impacts of globalisation. Research further shows that few
companies enjoy the benefits brought about by globalisation.
Further, due to technological changes, companies have been moving towards cheaper
countries, and this, in turn, is creating employment issues in the developed nations. Hence,

Technology in the globalised world benefits all developing countries
technology might be a hindrance for people residing in developing countries because technology
merely provides cheaper products. However, the focus should also be upon increasing the
number of “high-paying” jobs to make social and economic development.
Moreover, the Global Value Chains (GVCs) has sufficiently benefitted the growing
economies. However, on the downside, it should be noted that GVCs has a negative impact as
well. Notably, the overall economic performance of developing nations has been undermined
because GVCs does not take into consideration the labour-intensive market of growing countries
(Lema, Rabellotti & Sampath, 2018). This fact, in turn, reduces the comparative advantage of
producing countries. Mere job creation with the help of technological tools will not solve the
issue of unemployment in developing nations. It will be necessary to provide technical and
appropriate training to the unskilled labour so that businesses can be improved and upgraded. It
will be meaningless to claim that developing nations require improvement in social, economic
and technological dimensions. Technology does provide scope for development; however, it is
also necessary to improve the existing skills of the workforce.
After considering the contribution of traditional technology, the manufacturing sector
has benefitted the developed nations undoubtedly. It was done so by creating demands of the
people's skill set. Moreover, in the case of traditional economies, it was possible to trade
manufacturing. Additionally, production has made transformation and development more
comfortable and last, but not least, the demand for new skills was comparatively lesser.
However, the advent of new technology has made it challenging for people in developing nations
of the globalised world. It is because they are now supposed to adapt new requirements of skill
set. Hence, uncertainty always remains.
Further, despite the advanced level of technological access, people in developing nations
like Africa and Latin America cannot use it efficiently. It is due to a lack of proper government
infrastructure and regulations. Business firms in developing countries require more adoption of
digital technology solutions and implementation of ICT. Growth and productivity can be enabled
only when enterprises utilise developed technological solutions such as Cloud-based systems.
Again, automation of jobs is a serious issue, as it will threaten job availability. Youth in
developing countries will require a substantial skill set to match up to the globalised operations.

Technology in the globalised world benefits all developing countries
Job opportunities are nevertheless growing in developing nations; however, finding
suitable people and an advanced workforce is essential for a developing country to compete with
developed ones. According to the World Bank, a nation can grow only when there is enough
scope of improving the management and technical skills. This view is equally applicable in the
case of all developing countries. Before considering technology as something genuinely positive
for a nation's growth, it is essential to consider certain factors. For instance, in the case of
emerging countries, political instability is rampant, and the government should prioritise public
welfare first. Secondly, to compete with advanced economies, it will be challenging for
developing economies to deal with language and cultural barriers. Though technology can be a
vital force in resolving obstacles, inaccurate expectations from technology might harm nations.
Hence, after considering the negative impact, it can be stated that the focus of developing
nations should be upon safeguarding, regulation, educational advancements, cybersecurity and
appropriate negotiations with international bodies. Growth in a developing country is the sum of
all these essential factors.

Conclusion
The essay has been written by considering the positive and negative impact of technology
in developing nations. To reach new heights of economic, social and political growth, an
emerging country must implement and use technology seriously. Further, the essay is written by
incorporating a comparison between the traditional globalised world and the modern globalised
nation. It has been understood that radical changes have taken place in our society since the
1960s. Developing nations like China and the African countries have been able to generate due
to the advent of emerging markets and technological contributions. In the second part of the
essay, a counter-argument has been presented, opposing the view that technology always has a
positive impact on developing countries. It is now clear that, despite implementing advanced
technological tools, it is challenging a growing nation to thrive. It is because a globalised world
demands a lot of skill set from the working class. Hence, necessary changes should be
implemented in the educational sector so that youth can take advantage of IT and management
skills. Lastly, it is worthy to note that a growing nation can effectively utilise technology for its
benefit only when other systems are functional in a country.

Technology in the globalised world benefits all developing countries

Bibliography
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Handbook of global education policy, 27.
Coulibaly, S. K., Erbao, C., & Mekongcho, T. M. (2018). Economic globalisation,
entrepreneurship, and development. Technological Forecasting and Social Change, 127,
271-280.
George, G., Corbishley, C., Khayesi, J. N., Haas, M. R., & Tihanyi, L. (2016). Bringing Africa in
Promising directions for management research.
Grossman, G. M., & Helpman, E. (2015). Globalisation and growth. American Economic
Review, 105(5), 100-104.
Lema, R., Rabellotti, R., & Sampath, P. G. (2018). Innovation trajectories in developing
countries: Co-evolution of global value chains and innovation systems. The European
Journal of Development Research, 30(3), 345-363.
Rodrik, D. (2019). Opinion | technology, globalisation and the good jobs
challenge. https://www.livemint.com. Retrieved 19 September 2019, from
https://www.livemint.com/opinion/online-views/opinion-technology-globalization-and-
the-good-jobs-challenge-1549563638399.html
Steger, M. B. (2017). Globalisation: A very short introduction (Vol. 86). Oxford University
Press.
Stiglitz, J. E. (2017). The overselling of globalisation. Business Economics, 52(3), 129-137.
Will new technology in developing countries be a help or a hindrance?. (2019). World Economic
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Technology in the globalised world benefits all developing countries
https://www.weforum.org/agenda/2018/10/will-new-technologies-help-or-harm-
developing-countries/