Can West maintain lead and edge over emerging nations in science ,technology, innovation?
I have come across books of Joseph Stieglitz ,Dambisa Moyo ,Book How West was lost out They predict fall of west in manufacturing sector.She said process of de-industrialization already begun,service industries are more preferred by youth in the west.they dismantled their steel, chemical industries for reasons. China and India are new competitors and youth in these countries prefer Engineering as career. Long back US presidents have scientific and engineering background and boosted economy.In the west engineering industry called as" old " Once UK had lead in research in all sectors.Comments!!
Don't know a lot about this other than watching the general trends. Turn back the clock 150 years and England was the dominant economy. By 100 years ago the USA had surpassed her. Today I think China is the leading nation in all but military might (the Yanks still hold that dubious honour) I cannot see the Americans ever returning to their former glory and with England that is a certainty. She's already a second or third rate power.
I recall an Atlas I had in the 1960s which showed the rise and fall of various empires going back at least 2,000 years BC. They all have their moments. They all come and go. But the way I see it, in the next three or four centuries the world will be pretty well a level playing field and we'll have an 'Earth Empire.' But there'll be a lot of anguish, travail and gnashing of teeth before that comes about.
There is a lot of technology out there waiting to be used for one purpose or another. There are also a lot of smart people on this planet with different educational opportunities. So many inventions are being discovered and tried out. As far as manufacturing mass quantities of products to be sold to people all over the planet, the owners of those companies are going to put their company wherever they can make the most money. If less money is spent by having steel or chemicals produced in China, then the people who own that company are going to move it to China. There is no minimum wage in China and some other countries. The people get paid what the company wants to pay them. In the west, there is minimum wage and work standards that have to be met. There are certain guidelines the employer or company has to follow. In other countries the employer has more rights than the employee. It seems that industrialists are going to put their company wherever they can to make the most for themselves rather than appreciate or compensate an employee. If the west had different rules, or no rules in favor of employees then maybe it would look like the west would be the leader and have the edge. It's not the geographical location that is the leader, it is the owners of the companies and where they choose to put the company according to the labor standards of a region or country. It gives the illusion that wherever these companies are, that country is the leader. In fact, the country is not making money, it is the handful of people that own the companies that make the money.
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