Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?

Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?

Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?

Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?

Level field competition creates the best results for the most people.  If a developing country can produce better, faster, cleaner, and cheaper goods and services than a developed country, the developed country can choose to compete and change the way its done things to the more efficient model, or move on to hopefully higher-level goods and services. Yes, jobs will be lost.  But new jobs are created.  That only happens, though, if individuals are free to invest and develop new goods and services. Unfortunately, the reverse can also happen if undue regulation stifles innovation — an industry can be lost, and nothing evolves to replace it.  Great Britain certainly experienced this; hopefully the US will not be following that path.With China and India industrializing and competing with the West, the standard of living will increase for those two countries, as will the demand for resources.  If the US is smart, they will do all they can by trading so that their rapid development continues.  When resources become scarce (or rather, expensive) new technologies create new sources of resources.
Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?
Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?
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Does the rise of developing countries to become economic tigers, with well developed high technology industries, adversely affect developed countries?
Read More