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Nanotech In The Developing World Classical Conversations, Challenge 1 Scientific Research Paper

4236 words - 17 pages

Nanotechnology in the developing world
Riley Miller
Classical Conversations – Challenge I, Watauga TX
Heather Simpson April 25th, 2017
Nanotechnology, despite its fantastic sounding name, is very practical for developing countries to make products better and cheaper. Technical innovations will shape developing economies and strengthen market robustness building new and profitable industry bases for these countries. Nanotechnology touches all industrial fields and new products. The overview of nanotechnology and examples of some of the applications will be discussed. These could easily be included into the developing world’s technological ambitions. It is time that nanotechnology is taken seriously before competition builds up across the world
For developing countries aiming to achieve a growth for the next two decades, focusing on low-cost services or agricultural growth will not be enough. Focusing only on agriculture and food exports by developing countries is very risky - one has just to look at the devastating effects on the Ugandan economy after a sharp reduction in coffee prices, Additionally, agriculture seems to be the path chosen by all developing countries to achieve growth targets. This means that the supply of food is very likely to increase in the following years while the demand for food in the developed countries is lowering due to their reductions in population. Furthermore, sharp increases in efficiency in this sector are accompanied by using genetically modified crops (GMO’s), and major consumers like the European Union do not allow GM agricultural products. Again, focusing on being the lowest- cost service provider does not seem to be sustainable in the long term. For example, service outsourcing usually includes those tasks that are lower wage, or lower requirement;, such as call centers, administrative tasks, etc. Countries positioning themselves as the main providers of these kinds of services risk themselves. Moreover, these services do not contribute to significantly increasing the knowledge of the workers. Finally, if a country continues on this path. there are only two possible alternatives for the country in the future! Either it keeps on being the low-cost provider and therefore will never match the living standards of other countries, or the cost advantage will disappear and some other strategy will be needed to sustain growth. For the development of these countries in the future it is of quite important that knowledge-based industries develop to make economic development sustainable.
Economic development in this century is driven mainly by informatics, biotechnology and nanotechnology. Technical innovations will increasingly shape economies and market robustness, and technology will continue to drive global and domestic gross development product (GDP). Competition will be fueled increasingly by fast breaking innovations in technology in each of these areas. Nanotechnology is expected to be integrated
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