Economics and New Technologies in China

The contemporary technological progress has reached the scale of the highest speed of the development of such modern technologies as smartphones, social networks, and the series of so-called “apps” seriously changed all spheres of social life. In particular, the new economic system, as the contemporary economy, highly depends on modern technologies and their development. The complex character of these changes has been followed by the complex system of outcomes that the new technologic invention has produced for the economic sector. There can be seen strong and weak sides of this influence, and, therefore, the final impact has both negative and positive components. One of the most ingesting examples to be studied and analyzed is the contemporary situation in China. China is one of the most strong and influential economies of the world, and the huge size of this market represents the variety of issues that can be researched and analyzed in the context of the impact caused by modern technologies. The specifications are real and important, and they can be seen in the interrelations of the current situation within China in relation to the growing positions of iPad in the market.

Technologies can be seen as the science applied to practical issues. The reasons for new inventions in the sphere can be seen in the series of issues where technologies make people’s life easier and more comfortable. Contemporary gadgets give people the ability to have a more comfortable life and to act faster. The great changes can be seen in all spheres of life, and the special attention should be paid to the economic sector. One of the most important inventions is smartphones, “apps” and social networks, which have made the connection between people much easier. That highly impacted the development of big companies as their profit greatly enlarged with the presentation of Internet stores, as well as new opportunities of the perspective growth into the international set of organization departments. The bottom line in all types of business, which is the moving force for every economy, is profit, and the truth is that modern technologies improve business profit with the improvement of the organization’s performance.


To succeed in business, companies have to survive in the competitive struggles in the business environment (Archibugia and Pietrobelli 881-893). This requires the replacement of obsolete methods of operation as a way to win the concurrence. The success in the contemporary business competition is highly dependent on modern technologies as the implementation of technological innovations has changed the way companies develop and organize their corporate environment and the working process. This situation made it much easier to develop and compete. A good example of the changes within companies that have had the positive outcome for their profit by replacing old technologies is the Enterprise Resource Planning. This type of the integrated software that is connecting all departments of an organization in order to eliminate the needs of several small systems is the modern connection technology. It became available with the appearance of the Internet and social networks. In fact, it is a real benefit for the final outcome of the working process as the working of the single database is integrated into the system and serves as the general unit for the different sectors. Moreover, it is much more useful than the separate work of each single department. The additional benefit within the sphere is quality improvement work. The usage of “apps” is greatly support workers and customers, making it easier to get acquainted with a company, its’ inside system, products, working processes and other. The level of work improves with the implementation of modern technologies that make it easier to work with the usage of simpler working methods. The replacement of old technologies with new robots that can be programmed for the specific type of work, make it easier and faster to elaborate new products and produce the current ones. Therefore, people get more time and abilities to work on innovations and new implementations that can be fulfilled in the shorter time period (Archibugia and Pietrobelli 870-880).

It can be seen that modern technologies bring a lot of positive changes into the economy. The business sphere benefits from new opportunities that are now opened in front of companies. The faster and easier working process allows companies to produce more goods and services of the higher quality and propose them to the bigger amount of clients in the different parts of the world. The appearance of the social networks, “apps” and smartphones give the ability to communicate easier and organize business relations in the most comfortable way. However, there are series of weak sides of contemporary technological innovations that have to be taken into consideration as they also impact the development of the existing economic system. The first one is the growth of investment costs that are required to stimulate the economy in general and every business sphere in particular. Implementation of new technologies into all spheres of life within the country requires the higher upfront costs as the implementation of modern technologies is usually above the means of a company. This can be compared with the old system where there is the concentration of hiring of new workers that can be cheaper in the short term, but not profitable in general as the development and progress that is present in the whole system requires businesses to go ahead to survive in the long run. In addition, new technologies influenced the growth of the unemployment rate as it is now possible to do more with the help of modern technological innovations without the presence of people or to make a worker do more than he/she has done previously. In such a way, one person can do the work that has required several people in the past.

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The complex character of changes that can be seen in the contemporary economic system with the impact of new technologies can be seen in the global economic processes and in each single part of the world. The Chinese economy is also facing serious changes, because of the implementation of innovative technologies. That has the major importance for the series of global processes as China is now one of the world’s most powerful economies and one of the strongest markets that have the influence on all other countries in the world. The special interest represents the influence that China has faced from the iPad presentation on the state market. In the last years, the Apple Company has become one of the most powerful and widespread businesses in the world with its manufacturing departments in China (Duhigg and Barboza 3-4).

The impact on the state economy was great since the huge numbers of people were moving to the areas that are close to the factories in order to get a job in the well-known organization and to work for the largest manufacturing systems in the world. Employers are getting not the best experience working within the company as there is usually an overtime work, harsh working conditions and the corporate policy, which does not give its workers the full amount of social support and safety. There is a high risk of getting the professional trauma as it happened in 2012 with the eruption of fire that happened in the Apple factory in Southwest China. One of the most serious problems regarding the development of the Apple Company in the region is disregard of their workers’ health (Duhigg and Barboza 1-7). That can be seen from the series of issues when workers have been seriously injured after the work with the dangerous and poisoned chemicals, as well as dangerous working conditions produce a lot of illnesses and trauma. It has to be taken into account by the company, but, unfortunately, such cases continued to be present in the regions, which witness the necessity to solve the problem caused by the development of modern technologies.


The official representatives have claimed that the company tries to solve this problem with the implementation of innovative work policies, but, in fact, there were no real results in this sphere recently (Duhigg and Barboza).

The problem has been enlarging in the last years, and the development of the company, its image was seriously harmed by these issues. The company officials had special meetings in order to discuss the problem of disregards of workers’ rights and the improvement of working conditions. The discussion resulted in professional inspections of the factories, and the new projects that have to be elaborated in the sphere. However, these inspections, as well as the checks and the series of changes have produced a small effect. Consequently, it means that the company needs to change the whole working system with the regard of enlargement of the producing speed and modern innovative technologies within the sphere that can improve working conditions of people.

Works Cited:

  1. Archibugia, Daniele, and Carlo Pietrobelli. “The Globalization of Technology and Its Implications for Developing Countries Windows of Opportunity or Further Burden?” Technological Forecasting & Social Change, 70 (2003), 861–883. Print.
  2. Duhigg, Cgharles, and David Barboza. “In China, Human Costs Are Built Into an iPad.” The New York Times, 25 Jan 2012, 1-10. Web.

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