This is the age of technology and it has become an integral part of our daily lives. Man has worked hard to improve technology consistently to do various tasks fast and effectively. Many nations have succeeded in building great infrastructure and achieve stupendous progress due to developing of advanced technology before the other nations. Today, every nation strives to get the latest technology for the benefit of its citizens. Technological progress is vital in the fields of business, education as well as health care. Technology is a key ingredient in order to make businesses tasty in the world of today. Western countries has boasted to be way ahead of their fellow Asian countries for quite some time now but never before their bragging rights has been at risk of being taken away by the Asian countries until now. India and China are two countries which are making significant technological advances. Through my essay, I would be pointing out how are technologies reshaping the landscape for international business in India and China and is Asia now the world centre of technological innovation. . It has been pretty clear that the centre of the world's gravity is slowly shifting towards the east for quite some time now. China's economy is booming and is becoming the most influential country in today's world economy. Countries in the Asian region such as South Korea, Taiwan, Malaysia and Singapore has developed a lot in the last two or three decades. Yet all of these countries were among the worldââ‚¬â„¢s poorest only a few decades ago. With this momentum, Asia could become the center for innovation in the 21st century but there are a lot of changes that needs to be made in order to claim that. Countries such as China and India is constantly adopting with new technologies and is indeed making economic gains. There are a few things we will have to analyze before jumping to a conclusion as there are a lot of things to look into if we are to decide, is Asia becoming the centre of technological innovation.
Technology has revolutionized the lives of consumers and businesses alike. The increased array of products on the shelves, the lowered cost of goods and services, and the ease of accessing information are just a few of the ways technology has enhanced society. The field of international business is particularly sensitive to technological innovations. Technology has certainly improved the prospect of international business in both India and China immensely. India and China has been concentrating on Engineering and IT for quite some time now. They have been investing on building excellent universities and getting out more and more Engineers and IT graduates in the labour market. Moreover, without being educated about technology it is certainly not possible for a country to make advancements and this is something they have understood pretty well. This is one of the main reasons why these two countries has progressed so much in recent years in the IT sector. More and foreign investments has flown in this two countries and they have made substantial use of it. The local companies are attracting foreign investment and also acquiring the western markets. For instance, Apple has opened its manufacturing industries in China and this is because they have the technology to make their products and highly skilled labour who knows how to use their technology. On the other hand, India has one the biggest IT workforce in today's world and this is why US is moving its IT industry to India because their IT workforce is very educated and they are very good in English. Companies such as Dell, DHL and IBM and entered the Indian market. India also dominates the call centre industry in today's world without a doubt and it is expanding more. Tata Motors is an good example of how the Indian companies are also going global. Tata Motors is the biggest automobile company in India with revenues of $20.572 billion in 2010 and it has produced one of the top 3 passenger vehicles in the world in recent times. It has been branded as the most valuable company in India and with subsidiary companies such as Jaguar and Land Rover only helps the cause. Other companies such as Reliance and King Fisher is also entering the Western market and has stamped their authority in the International market. Not only that, technology has built the platform for local companies to help their motive and seeing the success of these companies more and more multinational companies are also moving in. India and China has already gone global and their climbing up at a consistent rate. China's economy has been dubbed as the fastest growing economy in the whole world by Financial Times and so and it is considered as the "global workshop". Technologies has improved communication, transports and the overall infrastructure of these two countries. There is also stiffer competition in the local market and these is certainly good for any economy. In addition to that more and more companies are being privatized and this is something which has helped substantially in developing their technology as there is less pressure from the government and a reduction of restrictions. When foreign companies move into a country they not only help the country's economy but also bring in new ideas and technologies which the country can benefit from and rightly so both these countries has benefited from international business. Today, China has the world's most valuable mobile carrier and has more than 500 million users, which is almost the combined users of Great Britain, USA and Germany. China has invested heavily in their telecommunication sector and which is now paying off. China Mobile said Research in Motion will develop a TD-SCDMA version of its popular BlackBerry mobile e-mail Smartphone, and that it will ramp up handset subsidies by nearly 30 percent to 15.5 billion Yuan. They are coming up with new technologies to use in their products so that they can go global. Chinese car industry is still at an early stage as they lack quality but are catching up. Recently a Chinese car company has bought Jaguar and they plan to use their technology in their cars. China has a very competitive market and this means that their products has to be up to date. China and India has their own nuclear plants, which is something they couldn't have dreamt of 50 years back. Having a nuclear plant is a big thing as it takes technology of the highest caliber. America's incomparable NASA's chief thinks that China will get to the moon next before any Americans do so again and if they do they will certainly be the second most important space power. Recently, they have announced an ambitious space plan which they hope to accomplish. Since 1994, India's space program has launched a number of Indian-made satellites. It's also been able to launch nine successful space flights consecutively. India has become the fifth country after the United States, Russia, China and France to enter the commercial satellite launch market. By 2015, India is planning to have a manned mission to the moon. I personally think that all these hype about China and India being the new whiz kids is a bit too exaggerated as they do have a lot of problems both politically and in their infrastructure. . For them to attract multinational companies this is crucial. These companies want to have online conferences, good transport, excellent computer skills, skilled labour and today's China and India have that. On the flipside, China and India are way behind their Asian counterpart Singapore in the IT industry. Singapore is ranked 3rd among the world's most technological innovative country and this because of the country's clean political image. The fact that both these countries has unstable political scenario, it can have a negative impact and slow down their growth at an international level. Both these countries also lack human right policies, other laws regarding freedom of speech, child labour and many more. They also have strict government policies on foreign investment, great inequalities of wealth and a huge population. These are certain thing that the Multinational companies look into very seriously and therefore they may be discouraged to operate in those countries. These are the drawbacks that India and China need to fix and they have made improvements in these areas after the 1990 economic liberalization so they are on the right track in every way in terms of international business.
Now, is Asia the new lynchpin of technological innovation is a bit more complicated to answer. If it was yes and no answer then the answer certainly would be no. Countries in Asia such as Singapore, Japan, China, India, Taiwan and Indonesia has made stunning technological improvements in recent times but they are still way behind the Western countries. We really don't need to look at the Western Countries in order to analyze this answer because we can look at Singapore. Singapore is ranked amongst the top 3 technologically innovative countries in the world and in the same list China and India rank below 50. This is quite a big difference but still both these countries has made significant improvements in recent times. What we really need to understand is that when the Asian countries are catching up with the Western countries, they are not sitting idle as they are continuing to improve their already advanced technologies. As a result, the progress the Asian countries are making are halved every time because the Western countries are progressing. The reason for Singapore to be where they are now is simply because of their country is governed in an excellent manner and it has a clean image. What's the relation between technology an politics? There is a big link between them as they complement each other. Government is the one who decides what are the areas they want to invest on, what are policies, they are the ones who mange the funds, and they are the ones who sets the rules and regulations. Singapore has managed to do all those things in an efficient manner. There has been huge amount of foreign investments and this has hugely helped them. Moreover, when a country creates a platform for International business but they are encouraging foreign competition, foreign technologies, their ideas and their technologies. There is a saying that people should learn from the best and this is exactly what they have done and at the same time the local companies has also contributed their bit. A country also needs to change their policies, make reforms, change rules and regulations so that it meets the requirements of the foreign companies you want to work with. For instance, China has strict internet censorship rules, India has a corrupt political system and these things scares away international companies who wants to work with these countries. These are certain thing they must work on to catch up with the Western countries. No one will deny the fact that Asia is not catching up but the fact is the western countries are way ahead in the race and they are not stopping either.
Through this research we have found out that there are certainly more positive things for Asian countries such as India and China to look into then the negatives but they should really work immediately to catch up with the Western countries to claim itself as the leader of technological innovations. As for the international business in India and China, it certainly looks promising but the thing is all these elements such as technology, business, government, policies are interconnected and they all complement each other. Therefore, they should be making the advances not only in technology but improve in all these areas in order to be the leader of the world economy as any delay could cost them dearly because technologies is always moving forward and the market is always changing.