Fast Spreading Digital Adaptation in Emerging Nations and the
theory of Everything
* Emerging economies have been struggling with growth through the
2010's and still the feeling of pessimism clouds over the present decade
whether the steadfast growth trend could be seen to be going strong or whether
the trend would be gauged down as it is being seen that People have accrued
high amounts of debt during the ongoing pandemic which has become a detrimental
factor to growth in not only emerging countries but also countries which are developed like USA , Russia , China , Japan , Germany , France ,
UK , Finland as questions over Growth tapping and keeping the same pace steady
even during a pandemic period is of paramount importance to all
* The answer to all the woes shrouding the question of
development even during such cloudier and gloomy economic conditions, looming
large and widespread is the harnessing of the Digital Revolution and Digital Adaptation.
As most of the emerging nations have started adopting cutting edge technology
at a much lower and lower cost which has allowed the countries to fuel domestic
demand and overcome traditional obstacles to growth .
* According to Reports , the number of smartphone users across
the globe has skyrocketed from 150 million to 4 billion worldwide which
approximates the total number of such people with a Smartphone device as nearly
equals to or over half of the entire world's population . This has enabled most
of the residents of the emerging world to access vital consumer and professional
services over a phone which is no less than a computer in its kind and is much
advanced than the personal computers which were there just a decade back .
* According to reports from BCG - Boston Consulting Group , since
2014 more than 10,000 tech firms have been launched in emerging markets with
half of them outside China
* As per current trends and reports , India is having almost
equal number of technology players as France and Germany and the number of such
companies are growing much faster year on year .
* As per some key metrices and data collected by popular
editorials , the onslaught and adaptation of digital revolution is much more in
emerging economies than that of developed nations and has been growing at a
much higher rate year on year .
* Another report collected from some major editorials state that among the top 30 nations by revenue from digital services as share of GDP more than top 30 nations by revenue from digital services as share of GDP ,
more than half of them are in the emerging world . In such a scenario, it has
emerged that Indonesia is much more advanced that countries such as Sweden and
Finland which are Europe's most tech savvy nations
* India ranks 12th in terms of digital revenues as a share of
the economy
* Since 2017 , digital revenue has grown in emerging countries
at an annual pace of 26% compared to 11% in the developed nations
* Led by e-commerce, the pace of growth in India has been even
faster with revenues growing nearly 33% on year over year
* The European Centre for Digital Competitiveness scores G20
nations by the pace of progress in the digital ecosystem and
"mindset" and thus puts four emerging nations in the top 5 category -
Saudi Arabia , Indonesia , China and Argentina
* The pressing question that has emerged from all this
competitive talk is how have the developing nations adopted to digital
technologies faster than the developed nations ? The widely acknowledged answer
to such a question has come in the form of a simple answer that is Habit and tenacity.
When some are wearing off and losing out on sheen as a result of their comfort seeking, some others rise who have the tenacity to struggle and get more
resources for themselves as prize and with analogy it can be only reduced a
cyclic process of growth and decay , decay and growth which applies to everyone
be it person , society , principles , economies and even countries and
continents .. and as well as the planet too (too much philosophy in an nutshell .... )
* The digital divide and access to information and services is
narrowing down which used to be the key parameters upon which the developed
nations had been brought up and this is trickling down to developing and
under-developed nations too .
* In the last decade alone , the number of internet users have
doubled in the G20 nations which is astounding as a decade back access to
internet was a distant dream for so many . (I first lay my hands upon internet
services in the year 2008 , and the first time I got to own a computer was in
the aftermath of 2003 ) . From that to this has been years marked with a boom
in technological development which has been significantly very high in the last
two decades alone compared to what the last century or any of the centuries
ever saw in the history of the world .
* Robustness of the governments to improve productivity by
moving more and more services over to online format in order to make them more
transparent and less vulnerable to corruption , which is one of the biggest
deterrents / obstacles / vulnerabilities to corruption , which is one of the
biggest deterrents / obstacles of doing business in the emerging world , which thereby creates
a greater sense of trust and cooperation which in turn facilitates higher
economic growth .
* According to reports , the signle most factor for such kind of
marked development to occur , the cost of starting or opening up business is a
major driving factor which deters entrepreneurs from taking their feet out to
start a business , innovation or self-sustained effort ; but since the cost of
such factors has been in the decline in emerging or developing countries
coupled with their in government support, guidance, motivation and cooperation such prospective entrepreneurs get a guided push for starting up as they can
start their businesses and tools on their own and affordably , which these days
could be just monitored and controlled within the grasp of their palms over a
smartphone with internet .
* But as economies start evolving and growing, chances may arise
that the things which catapulted such growth coupled with the rise of
globalisation and access to great quality products from around the globe
through way-to-go retail apps would slowly and slowly come down again and
perhaps this could be a smaller miniscule side-effect of indigenisation which is again a cyclic effect
which takes into factor indigenisation and globalisation which would also go
all the time (You see ... one has to always keep in mind the cyclic effect of
all things to understand all concepts of science , arts , culture , trade , war
and even peace ... which encompasses the all round "theory of everything" )
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