– By Kinley

The future is all about science and technology. Whether we want or not our world will be driving into the digital world. We have got an opportunity to witness in real, where the millions of people around the world lives in their home and everything such as business, education, communication now happening over the internet due to the covid pandemic. Without the advancement in technology, we can’t able to perform the work from home and it won’t be possible for students to learn and receive support continuously. As a result of the technology advancement, it makes our lives more enriching, help us achieve our goals, be it individual or collective goals. Taking on this account, it is very important to leverage technology to its fullest potential that can bring good to human society.

In 20th century, the government of every country use to believe that nation trade will boost by connecting trade route such as good infrastructure of road and rail. But because of the globalization and changing times the transport and transit infrastructure will lead to better connectivity, however free and secure movement of goods and people will be in doubt. Therefore, it is indispensable to update the trade system to suit the needs of modern times. The covid-19 has not only taken the life of the people, it has also disrupted the functioning of trade and business, education, livelihood, public service all over the world. To ensure the undisrupted functioning of trade and business, daily activities and livelihood of the people, it is crucial to developed the digital trade. We need to keep in mind that technology forces the shape of the trade flows in modern times.

The innovation and technologies play a crucial role in improving the food production and security. Nowadays, our world is facing challenging in global food system to provide an enough and adequate quality of food to all people, all classes irrespective of gender. So, to tackle these challenges digitalizing the agriculture system could be the best method to address. Technologies such as drones, sensor, and satellite helps in the agricultural product. For instance, sensors and satellite provide information on soil moisture, temperature, crop growth and livestock feed levels, enabling the farmers to achieve the better yields by optimizing crop management and reducing the use of fertilizers, pesticides, and water. Many of the people in the world use to depend on agriculture, that’s why we need to invest more in technology that can sustain the life of the farmers. Moreover, agriculture is one of the backbones of the economy. Therefore, if any nation invests in digitalizing the agriculture their economy will be growing significantly.

If we ask many middle-income people, what type of mobile phone brand they us to have? Most of the people will respond that they used to have Samsung mobile. Why Samsung? It is because, Samsung mobile phone maintains high end product for the people with certain consuming capability. Samsung never stops its technology research and contributes considerable amount of money into new technology research and innovation every year. Therefore, Samsung has been overtaking the Nokia and Motorola as Nokia and Motorola didn’t invests Much in research and innovation of technology. Like Nokia, our nation might left out by many developing nations. If we don’t invest more in research and development of technology. Before it’s going to be late, better to invest more in technology as it is linchpin to support and continuous improvement in technology innovation. 

 In conclusion, the development of the nation is backed by the technology. We understand how technology plays a crucial role and technology progress is the major source to speed up the development of social economy for a country. In this competitive global market, technology helps the countries to boost the economy and strengthening the trading position by simplifying the works and systematic management as it increases efficiency and open up in new markets. The opportunity should not be left as an opportunity, we should make use of this opportunity as much as we can by focusing more in the trade technology field.


Reference:     

UKEssays. (November 2018). Impact of Technology on Trade. Retrieved from https://www.ukessays.com/essays/economics/impact-of-technology-on-trade-and-development-economics-essay.php?vref=1

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