Impact of Technology on Trade

force of applied science on Trade applied science plays a crucial role in the maturement of countries. It is very of the essence(predicate) both for developed countries and developing countries as engineering hap allow enable countries to be more militant in the global grocery store. and then progress in technology helps countries to develop the deliverance and strengthens their trading come ins in the competitive global market (Sabir, 2010). With the information of technology, blue school-tech products lead have the major(ip) players in international trade. The traditional primary products and ordinary manufacturing goods will account for less in the international trade business than before. In order to illustrate the impact of technology on trade and teaching for the coarse, this essay will take south Korea, a developed country and the Samsung products as example to analyze the way the technology influences the countrys ontogeny and its trade.Technology developm ent in southwestward KoreaThe development of technology green goddess judge the future of the country in terms of its economic system exploitation and its position in the international community. southernmost Korea, as all we know, is a critical example in the technology research and development. Forty years ago, South Korea was still a laggard agricultural country and was empty in science technology fields. However, during 40 years endeavor, South Korea has do peachy performance and achievements in the technology development. Its innovation capability is improved a lot and the distance to developed countries regarding the technology aspect is becoming closer. Since seventies and 1980s, the science technology policies of South Korea have been gradually shifted from introduction artificial model to self-development and innovation (Viotti, 2002). Therefore, since then, high-tech projects, such as sophisticated electronics, virgin materials, semiconductors, precision che mistry etc. have been developed quickly in South Korea. That Semi-conductors enterprises, such as Samsung, can undefeatedly compete in the international semiconductor market can not separate from the autarkical expert innovation. Thanks to the technology progress, South Korea has made great development in frugality. As we know, economy and technology are two essentials which can not be degage from each other for the country. The progress of technology will promote the development of the countrys economy, meanwhile, economy suppuration will enable the country more capital to the technology research. From the experience of developed countries, their ready development in economy can not be separated from their progress in technology. Technology is becoming the core for the developed countries (Hausmann and Rodrik, 2003).Impact of technology on trade and economy growthEconomic development of South Korea started in 1950s and achieved a take-off in economy growth in 1960s. In the i nitial stage, South Korea applied inward economy growth strategy however, since 1962 the country began to implement an exportation-oriented economy development strategy. South Korea is severely dependent on the external markets since its internal market is very limited. The country is highly focused on the export business to crap foreign exchange and import the scarce resources. With the development in high-technology fields, South Korea has realized to increase the exports of the high-tech products which have successfully contributed to a rapid economic growth for the country. South Korea has achieved a considerable growth in its GNP from 87 USD in 1962 to 10 936 USD in 2001. This is close to the developed countries. Among the exporting volumes, the high-tech products are increasing year by year. In 1988, the high-tech products accounted for 15.97% of the replete(p) exporting volume. In 1999, the high-tech products reached to 32.2% (Kwon, 2010). The progress in technology has gr eatly helped South Korea in achieving good result in the global trade market and resulted in a great growth in GDP and its overall economy.Samsung Electronic is a typical successful example in the research and development of technology for South Korea or even for the whole Asian countries. Many technological and electronic manufacturers in Asian countries are trying to learning from Samsung Company. Samsung Electronic Company has made great contribution to South Koreas economic development. Samsung has got its white goods and other products such as wide awake knells famous in the global marketplace. In 2000, the export amount of Samsung Electronic has reached to 18.6 zillion US dollars which accounted for 11 percent of the total exporting jimmy. In 2004, Samsung has made a breakthrough of 50 billion US dollars of exporting value and accounted for 21% of the total export value in South Korea (Kang and Jin, 2006). The reason why Samsung products can take a great market share in t he global trade market is highly dependent on the technology progress. Take Samsung mobile speech sound as example, with the continuous innovation and progress made in the technological field, Samsung mobile phone is now become one of the leading mobile brands in the world. It has already posed a threat to Nokia and Motorolas leading positions in the global mobile phone market (Uimonen, 2000). Facing the fierce contestation environment in the global mobile phone market, Samsung mobile phone maintains its strategy to position high-end products for the people with certain consuming capability. High-end products need high-technology to wear and continuous improvement in the technology innovation to maintain the high price. Therefore, Samsung never stops its technology research and contributes considerable amount of specie into new technology research and innovation every year. Besides the mobile phone area, Samsung is also making efforts to expand its other electronic products with high technology, such as TV, LED, refrigerator, and other white goods in the global markets (Bonaglia, Goldstein and Mathews, 2007). Of course, chinaware is its orotundst trading partner and Samsung products have covered a relatively large market share in China.ConclusionIn conclusion, technology progress is the major power and source to speed up the development of the well-disposed economy for a country. Nowadays, as peace and development are the major theme for the international communities, high-technology is attached great importance in boosting the economy growth for a country. At the same time, under the globalization trend, the development of technology will help the country to be more competitive in the global trade market thus to boost the countrys economy development.