By Ratnakar Adhikari, Executive Director of the Enhanced Integrated Framework Executive Secretariat, World Trade Organization and Fabrice Lehmann, Associate, Enhanced Integrated Framework (EIF)
The fourth industrial revolution is charting a new and uncertain course for the world economy. Least developed countries must prepare for the opportunities and risks that it brings. It is characterised by the confluence of new technologies, fusing the digital, physical and biological spheres.
Rapid technological change is expected to have a profound impact on economic and social development in countries at all levels of income. Opportunities include harnessing the possibilities of digitalisation for sustainable development and social empowerment. Risks involve marginalisation and a widening chasm between poor nations and their emerging and industrialised partners.
Can countries in the early stages of development reap the benefits and become authors of their technological revolution? Continue reading