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Small Economies in the Increasing Globalization
The other aspect is technological development in general not only within a country and how it can affect relationships between national economies and regional economies. First of all technological development provides new areas of products that requires high technologies and returns high profits, as we can see in the development of Asian countries. Secondly, it can increase the self sufficiency of a nation if it is capable to use it, for example, in manufacturing process. But new technologies can also widen the gap between developed countries, developing countries and third world countries.
One of the developments that I would like to point out is video conference opportunity. Since the first video conference call in 1995 between North America and Africa there have been many changes and developments, including Skype founding in 2003. Video conference possibilities have changed the whole business environment in general. Firstly, it eliminates the need to travel across countries for meetings with partners and clients, secondly, it widens the opportunities for labour forces and develops the new ways of group networking, for example, virtual teams, and thirdly, it gives a chance for countries like Mexico and other to base in their country subsidiaries from international companies, but to use own workforce fro all levels as it can be controlled from a distance .
The high use of programs like Skype in nowadays business world proves that this technological development is important for modern business and for regional and global economic as well.
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