Technology and Innovation Response to Decaying Globalisation force?
To take the lower cost labor advantage, firms of advanced countries preferred to establish manufacturing plants in developing countries--creating the wave of globalisation.
To reap the benefit of globalisation, most of the developing countries changed the focus from indigenous productive activities to supply labor to global manufacturing value chain.
But unfortunately, technology is eroding the labor advantage, infusing U-turn to offshoring of manufacturing.
To counter it, developing countries should focus on technology and innovation to start improving their productive activities so that they keep succeeding in producing better quality products at lower cost through their mental capacity and labor advantage--creating new wave of growth.
And this wave could be far more sustainable than ever before.
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