Shift in the Regional Balance of Power From Europe to Asia: A Case Study of ICT Industry
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Information and communication technology (ICT) is increasingly recognized as an important driver ofeconomic growth, innovation, employment and productivity and is widely accepted as a main feature ofdevelopment. During the last couple of decades, ICT sector became the most innovative service sector thataffected the living standards of human beings all over the world. In the beginning of the 21st century, some ofthe Asian countries made reforms in the ICT sector and spent an enormous amount for the progress of thissector. On the other hand, developed countries in the European Union (EU) faced different crises which badlyaffected the dissemination of this sector. Consequently, EU countries lost their hegemony in the field ofinformation technology and resultantly, some of the emerging Asian countries like China, India, and SouthKorea got supremacy over the EU in this field. Currently, these countries have a strong IT infrastructure,R&D sector, IT research centers working for the development of ICT. Moreover, this paper investigatesreasons for the shifting of the balance of digital power from Europe to Asia.
Abstract
Information and communication technology (ICT) is increasingly recognized as an important driver ofeconomic growth, innovation, employment and productivity and is widely accepted as a main feature ofdevelopment. During the last couple of decades, ICT sector became the most innovative service sector thataffected the living standards of human beings all over the world. In the beginning of the 21st century, some ofthe Asian countries made reforms in the ICT sector and spent an enormous amount for the progress of thissector. On the other hand, developed countries in the European Union (EU) faced different crises which badlyaffected the dissemination of this sector. Consequently, EU countries lost their hegemony in the field ofinformation technology and resultantly, some of the emerging Asian countries like China, India, and SouthKorea got supremacy over the EU in this field. Currently, these countries have a strong IT infrastructure,R&D sector, IT research centers working for the development of ICT. Moreover, this paper investigatesreasons for the shifting of the balance of digital power from Europe to Asia.
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