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The integration of automation in each and every sector of the industry has shown promising growth and high revenues. Based on the data gathered from online sources, MNCs make important decisions to expand their customer-base. Automation has reduced the need for labor, and western countries have made full use of this opportunity by automating the basic operations to reduce the labor expenses.
Today, the country's leading the world in technological advancements are experiencing a steep growth in key economic and social indicators. Economic indicators such as GDP, and balance of payments and social indicators such as gender gap and inequality. The Scandinavian countries have taken the course of tech development very seriously, and they rank the highest among most indicators.
Leading the tech race in Asia, India and China has become dominant powers on the global stage. Leaving the UK behind, India is now the fifth strongest economy in the world. Listed below are the country's leading the tech race.
1.Estonia
Gaining independence from the former USSR in 1991, Estonia was in the shackles of corruption and poverty. In 2001, the government of Estonia announced the access of the internet to be a basic human right. Within a few years, even the rural areas of Estonia had access to quality internet. This step helped the country get on the track of growth and development, opening up excessive job opportunities. Improved standing of Estonia in the social and economic indicators ensured the benefits of tech advancements.
2.China
Before China gained access to worldwide trade in 2001, international governing bodies had banned China from trade due to its communist values. Entry into the world trade organization led China to compete at the same level as the rest of the countries.
The current President of China, Xi Jinping, has been handling the office since 2012 and the Chinese tech sector experienced an unprecedented growth along with other sectors. The Chinese premier devised a plan to ensure Chinese superiority in the field of robotics, green and smart manufacturing, and strengthening the R&D sector. These aims reveal the intentions of China to expand its tech sector.
3.India
India developed a nuclear bomb in the 1970s. After which it integrated technology for the success of its agricultural sector. The government of India invited highly qualified strategy makers from Britain to help devise a plan for the growth of agriculture. The introduction of technology led to the rise of India as the most powerful nation in South-Asia. Introduction of technology worldwide has also allowed the user to sit at home and enjoy online gambling through various sites, playing games such as roulette. In the 21st century, the technological sector of India expanded dramatically. A previous colony of England, the Indian economy surpassed England’s and established the 5th place in the world.
4.South-Korea
The spread of the pandemic in 2020 was most efficiently restrained by the South-Korean government, owing to its latest technological resources. Installed cameras in every corner of South-Korea allowed the government to trace steps of every infected citizen and the people they met with. Even before the covid tests were introduced, Seoul’s administration identified the whole chain of people who could have been affected and ensured their quarantine. Various tech MNCs of South-Korea have gained recognition throughout the world including Samsung and Hyundia.
5.Taiwan
Whereas China is determined to take over Taiwan, the US is hell-bent on protecting the sovereignty of Taiwan. Both the countries are spending huge sums of financial resources to balance each other's hold in the Pacific ocean. If China manages to invade Taiwan and control its semiconductor industry, the US will most certainly lose the tech race from China.
The semiconductor industry of Taiwan is the most advanced in the world. These semiconductors are used in a vast number of technologies ranging from communication devices to radios. The tech advancements of Taiwan and the dependency of US and Europe on the technology of Taiwan has strengthened its standing against China.