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Discussion about the international interdependence and how technology is causing the emancipation, especially with respect to the export diversification in developing and developed nation particularly

Number of Words : 4858

Number of References : 37

Contents

 1. Introduction 2
 2. Effect of Technology on the Developing Countries and Their International Trade 6
  Channels Of International Trade 7
  Policies Related To Technology And Trade For Developing Nations 8
 3. Effect of Technology on the Developed Countries and Their International Trade 10
 4. Trade between developing and developed nation 11
 5. Transfer of technology to the developing countries from the developed countries 14
 6. Conclusion 15
 List of References

Description

Technology plays a very important role in the international trade. Faxes, overnight deliveries and databases have increased the realm of the global economy not only to the smaller companies but also to the larger multinational firms (Aghion, 1998). <br />The profit margin needs to be increased and hence, the competitors are forming alliances to cut the costs and have the necessary profits. Technology has become a very essential ingredient from consumer goods to industrial products, from agriculture to economy (Arrow, 1962). Thus, both developing and developed nations are getting affected by the manner in which the technology oriented trade has increased and emancipated. Trade has thus, taken a larger role and more commercialised standard than ever before for the better international and economic relations of the countries. <br />There is another aspect of duplication which comes into the picture that Ford, General Motor and Chrysler have involved into, which includes the formation of the alliances and also the process of safeguarding the information related to technology. Another important aspect which is taken into consideration is the manner in which the entire world economy should be integrated so that there is equitable distribution of profits and trade values. In short, with the inclusion of technology, international trade has reached to new heights and it has grown in such a manner that the entire aspect of even globalisation is getting linked to it.<br />Several economic and political policies mark the interdependence of trade relations in between the various developing and developed countries (Kennedy, 2002). There have also been several comprehensible explanations about the manner in which such aspects affect the international competitiveness of the various nations. Moreover, the effects of these factors are differing variably on the developing and developed nations, as both these nations, respond to the factors in accordance to their financial and socio-economic condition. (Cameron, 1998)<br />Lewer, (2006) reflects international trade is quite responsible fro creating competition and creative destruction and this is primarily because of continuous process of scrapping off the old technology and incorporating the new one. The progress of the technological incorporations eventually depends on the fact that what the innovative rewards are and how does the market cater to such needs and demands.<br />

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