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Global Competition

The United States has been #1 economically and technologically throughout the world for over 50 years, maintaining its economic edge by inventing and exploiting new technologies better and faster than any other country (Segal). The largest proportion of the world's top high-tech firms are American, and since the U.S. government spends heavily on defense-related technology, the U.S. military's technological dominance is virtually ensured on battlefields (ôU.S. Dominance in Science and Engineering at Riskö). Americans invented and commercialized the semiconductor, the personal computer, the Internet, and the compact disk; other countries merely tried to follow its lead as it forged ahead, continually developing innovations and improving technology (Segal). Now, however, its spot in first place is being challenged by Asian countries that have been pouring resources into research and development (R&D) and enjoying the advantages of competitive tax policies, preferential science and technology (S&T) policies, and higher-quality science programs (Segal).

United States policy and strategic planning have been inadequate to keep it in first place through the rise of Asian economies, and it now appears that it should have paid closer attention to the rise in technology studies and the beneficial changes to trade and technology policies in other nations (ôU.S. Dominance in Science and Engineering at Riskö). Globalization has opened up new vistas for the American economy but has done the same for other nations as well, with Asian economies briskly positioning for the lead. Asian countries have not missed a beat in technological research, and the percentage of patents issued to Asian scientists is rising (Segal). Furthermore, Indian companies are rapidly becoming the second-largest producers of application services in the world, as they develop, supply, and manage databases and other kinds of software for clients around the world (S...

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Global Competition. (1969, December 31). In LotsofEssays.com. Retrieved 19:25, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1712485.html