DIGITAL TRANSFORMATION AND THE POTENTIAL FOR CREATING SMART ECONOMIC INTERDEPENDENCE AMONG EMERGING ECONOMIES

Authors : Ana Yousefian
Pages : 221-233
View : 51 | Download : 9
Publication Date : 2024-12-25
Abstract :In recent decades the global economic weight has experienced a dramatic shift with emerging economies, mainly in Asia, as key players. These economies will consist 50 % of the global GDP until 2050, more significant compared to the G7 countries that will have a 20% share. The evolving change can be seen a precursor of an economic transformation from the Atlantic zone to the emerging economies beefing up the already existing multi-polar economic order. Moreover, the emergence of new production patterns such as near-shoring, friend-shoring, on- shoring and res-shoring is adding another dimension to supply chains and trade policies especially among neighboring countries, with technology as a key player. Asia is now the largest global region where not only the emergence of sub-regions but also the convergence of sub-regions is taking place. Sub-regions that include Northeast Asia, Southeast Asia, South Asia, Central Asia, and West Asia or the Persian Gulf region. Meanwhile there comes the digital order which as some IR scholars put it, for now is a bi-polar one with China and the United States as the two leading actors. Considering the fact that technological and digital innovations have added a new dimension to world affairs this paper tries to investigate whether digital innovations such as Artificial Intelligence providing us with data have the potential to formulate an interdependence relying on digital innovations. It is hypothesized that with the emergence and assistance of new technologies a more intertwined, interconnected and interdependent future awaits the emerging economies. The theory applied for analyzing, explaining and supporting the assumption of this paper is the interdependence theory. This research is qualitative and it involves non- numerical data such as texts, podcasts, web casts, therefore secondary research.
Keywords : Economic Order, Digital Order, Emerging Economies, Economic Interdependence, Digital Transformation

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