7.8.3: Technology and Global Domination

 7.8.3: Technology and Global Domination The race between the Most and Least Industrialized Nations to develop and apply the new technologies might seem like a race between a marathon runner and someone with a broken leg. Can the outcome be in doubt? As the multinational corporations amass profits, they are able to invest huge sums in the latest technology while the Least Industrialized Nations are struggling to put scraps on the table. So it would appear, but the race is not this simple. Although the Most Industrialized Nations have a seemingly insurmountable head start, some nations are shortening the distance between themselves and the front-runners. With cheap labor making their manufactured goods inexpensive, China and India are exporting goods on a massive scale. China has been spectacularly successful in using the capital from its exports to gain advanced technology. With it, China has modernized its military and infrastructure (transportation, communication, utilities, and financial systems). The transformation is so remarkable that in some areas China has passed the West. Although global domination remains in the hands of the West, it is possible that a major shift in power and finances from West to East has begun. Will the 22nd Century be the century of Chinese power?