Role of Technology in Asian Economy


drone tech asia

Economic theory reveals that one Economy is a Technological Innovator while another Economy is the Technology Adopter. It refers to the idea that the innovations in the industry of Technology play a significant role in the economic growth and financial development of any country or region. The two basic models of Advanced Technology are Innovations and Adoption. Innovations are the models which are the new technological methods invented to grow economy and Adoptions are the models which stress on learning some methods and strategies from other largest economies and inheriting those methods

The Global Automotive Industry and Automotive production centers are prominent in emerging developed economies of Asia. This industry considered the consumer demands with regards to Styling, Safety, Maintenance, Comfort and Manufacturing Efficiency. The Automobile countries of Asian region are China, India, Indonesia and Thailand.
Thailand is the largest automobile export industry of Asia. It is growing very fast with the International trade systems. Indian Automobile Industry is also very prominent because it caters very efficiently with the domestic and external demands of consumers. Indonesian Industry of Automobile is the set dominated by three major Car manufacturers of Japan and contributing to exports and economic growth. Moreover, advancements in the Security, Quality and Specialization of automotive products is very necessary in the economic growth and number of serious customers.
Internet has also increased the rate of economic growth with its effective trends. Internet serves as a vast range in the economic activity. Internet provides millions of daily online transactions and communications, smart phone downloads and TV shows which contribute to the global growth, productivity and employment. Large firms are managed through internet and those online firms are contributing to the economic growth of Asia. Internet Access also increases the growth in the Education field. With the use of internet common people as well as business people are facilitated because they can conduct large scale business firms and can get plenty of information in very little time. One of the researches demonstrates that the web accounts of India, Brazil, China, South Korea and Sweden prove as the significant models of growth of global GDP. The internet accounted 21% GDP (Gross Domestic Production) growth in the last five years among developed economies.
The advancements in cell phone accessories also contribute to the economy of a region. The well known cell phone largest companies are introducing new products and innovations in the previous models to catch the attention of customers. In 2014, mobile technologies and services generated 4.7 percent of the GDP in Asia. Moreover in 2014, the industry encourages public funding and contributes $130 billion in the form of general taxation. South Korea has well known mobile companies such as Samsung and LG.
TV and Entertainment services also pay attention to the economic growth and export systems. Taiwan is one of the Asian countries with the top competitive and free media. Cable Televisions, Newspapers, music, political channels, Radio, Magazines and Periodicals are the part of Taiwan media.


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