THE world has been changing at an alarming rate and technology has disrupted the way business is being done. The global economy has evolved into the 4th industrial revolution (Industry 4.0) while the Internet of Things (IoT) has taken centre stage.
This disruption has created opportunities for countries like the United States of America (US), China and Japan that are leading the pace in terms of technological advancements.
However, it has created new risks for developing nations such as Zimbabwe that are lagging. The point is that in international trade, developed countries such as US, China and Japan have a competitive edge given their focus on value-added products (tech products and manufactured goods).
Morgan & Co Research contends that the competitiveness of any nation in the new global era is largely hinged on the degree of its investment in research & development (R&D).
Developing countries (mostly in Africa) have limited manufacturing and value-addition capacity and exports are mainly mineral and agricultural resources (raw materials) that feed into the manufacturing processes in the developed
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