IDEAS home Printed from https://ideas.repec.org/a/tec/journl/v29y2022i1p471-480.html
   My bibliography  Save this article

Re-emergence of Asia in the New Industrial Era

Author

Listed:
  • Siddhartha Paul Tiwari

    (Google Asia Pacific Pte. Ltd., Mapletree Business City II, Singapore)

Abstract

The dawn of the new industrial era (Fourth Industrial Revolution or 4 IR, Industry 4.0, "McLuhan" stage) characterised by IT-based modern technologies and global value chains has regained the Asian economic strength.  Overarching impact of 4 IR is expected on the physical, digital and biological world. Several Asian countries have maintained high growth and have displayed true globalization by possessing elements and desiderata of the 4 IR.  Asia has also displayed its innovative strength in many determinants of 4 IR.  Although a gradual transition from labour to capital to talent is slated to happen, Asia will have its own amalgam of the three case-by-case. For example, some Asian countries have demographic assets to use labour in low-skill jobs and they will continue to compete as low-cost manufacturing hubs for a substantially long period despite high proportion of ageing people and less birth rate. Human talent-intensive services like healthcare and education stand to benefit from 4 IR by way of cost-reduction but concerted efforts of public and private sectors are needed in these areas. Unemployment and inequality may rise initially but may be offset to a sizeable extent by new jobs and engagements and also by reorientation of knowledge, skill and attitude, the three realms of education, through continuous training, skill upgradation and self-renewal. There could be eugenic effects such as defect-rectification at early developmental stages and ultimately moving towards designer human beings in the long long run. Significant role of the state, policy and mode of governance was observed in bringing about the 4 IR. It is hoped that while thriving on the fruits of 4 IR, all stakeholders would also unite for maintaining a vigil and holding up the human values like conscience, creativity and empathy to mar the possible ill-effects of the 4IR that could be dreaded in its most dehumanized form in the long run. 

Suggested Citation

  • Siddhartha Paul Tiwari, 2022. "Re-emergence of Asia in the New Industrial Era," Technium Social Sciences Journal, Technium Science, vol. 29(1), pages 471-480, March.
    • Handle: RePEc:tec:journl:v:29:y:2022:i:1:p:471-480
    DOI: 10.47577/tssj.v29i1.6103
    as

    Download full text from publisher

    File URL: https://techniumscience.com/index.php/socialsciences/article/view/6103
    Download Restriction: no
    File URL: https://techniumscience.com/index.php/socialsciences/article/view/6103/2161
    Download Restriction: no
    File URL: https://libkey.io/10.47577/tssj.v29i1.6103?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Siddhartha Paul Tiwari, 2022. "Emerging trends in soybean industry," Papers 2202.08590, arXiv.org.
    2. William Baumol, 1996. "Children of performing arts, the economic dilemma: The climbing costs of health care and education," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 20(3), pages 183-206, September.
    3. Terutomo Ozawa & Sergio Castello & Ronnie J. Phillips, 2001. "The Internet Revolution, the “McLuhan” Stage of Catch-up, and Institutional Reforms in Asia," Journal of Economic Issues, Taylor & Francis Journals, vol. 35(2), pages 289-298, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Banasiewicz, George, 2022. "New media technologies, fake news, and disinformation: challenges for the society," MPRA Paper 115282, University Library of Munich, Germany.
    2. Maestracci, Aria, 2023. "An Examination of the Economic and Social Impacts of Corporate Innovation and Interventions," MPRA Paper 116932, University Library of Munich, Germany, revised 03 Feb 2023.
    3. Sharma, Rahul, 2022. "Transformation of rural areas through the use of technology: opportunities for women and youth," MPRA Paper 115336, University Library of Munich, Germany.
    4. Driskell, David, 2022. "Strategies for sustainable data centers: technology and sustainability in modern society," MPRA Paper 115434, University Library of Munich, Germany.
    5. Heikkinen, Daan, 2023. "Changes In Learning Behaviors Post Pandemic: A New Era In Learning Economy," MPRA Paper 116912, University Library of Munich, Germany.
    6. Singh Tomar, Arun, 2022. "An Analysis of the Development of a Smart, Environmentally Friendly, and Technologically Sustainable City: A Necessity for the Future," MPRA Paper 115451, University Library of Munich, Germany.
    7. Zhang, Shoucheng, 2022. "Procurement technology and its impact on the economy: harnessing the power of sustainable procurement," MPRA Paper 115840, University Library of Munich, Germany.
    8. Singhal, Bhoomika, 2022. "Using artificial intelligence to benefit society in Asia: opportunities and challenges," MPRA Paper 115421, University Library of Munich, Germany.
    9. Oliver, Dr, 2023. "Economic impact of the digital revolution on the Asian economy," MPRA Paper 116052, University Library of Munich, Germany.
    10. Nguyen, Oliver, 2023. "Digital Economy and Its Components: A Brief Overview and Recommendations," MPRA Paper 116110, University Library of Munich, Germany.
    11. Maestracci, Aria, 2023. "Developing a framework for scaling M-governance in Asia: Issues and Challenges," MPRA Paper 116952, University Library of Munich, Germany.
    12. Heikkinen, Daan, 2023. "The Need for Green Data Centers in Modern Society: Technology, Economy and Environmental Sustainability," MPRA Paper 116245, University Library of Munich, Germany.
    13. Siddhartha Paul Tiwari, 2022. "Knowledge Enhancement and Understanding of Diversity," Technium Social Sciences Journal, Technium Science, vol. 30(1), pages 159-163, April.
    14. Sharma, Devashish, 2022. "The use of technology to counter frauds and scams for the benefit of society: a detailed study," MPRA Paper 115323, University Library of Munich, Germany.
    15. Zhang, Shoucheng, 2022. "Impact of the Agricultural Supply Chain on Society: A Post-Covid Analysis," MPRA Paper 115355, University Library of Munich, Germany.
    16. Goyal, Krishna, 2022. "An Analysis of the Effects of Service Quality on Society of Mobile Technology Applications Used by Banks," MPRA Paper 115366, University Library of Munich, Germany.
    17. Aria, Dr, 2021. "Technological Innovation and Corporate Entrepreneurship: A Study," MPRA Paper 116344, University Library of Munich, Germany.
    18. Clayton, Bernard, 2022. "The Role of Technology and Mobile Governance in Today’s Society: Analyzing How Apps Are Used in Governance," MPRA Paper 115265, University Library of Munich, Germany.
    19. Preminger, Ambrose Jude, 2022. "Study Examining New Technologies and Sustainable Development with a Focus on Social Entrepreneurship," MPRA Paper 115295, University Library of Munich, Germany.
    20. Dayal Saraswat, Kinshuk, 2022. "Technology-Based Risk Management for Rural Sectors and Natural Disasters in Developing Countries," MPRA Paper 115480, University Library of Munich, Germany.
    21. Singh Tomar, Ashish, 2022. "The Socio-Economic Challenges Facing Asia Due to Insufficient Earnings and Employment," MPRA Paper 115540, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tiwari, Siddhartha Paul, 2022. "Re-emergence of Asia in the New Industrial Era," SocArXiv g9tv5, Center for Open Science.
    2. Eric Nauenberg, 2014. "Changing healthcare capital-to-labor ratios: evidence and implications for bending the cost curve in Canada and beyond," International Journal of Health Economics and Management, Springer, vol. 14(4), pages 339-353, December.
    3. Eric Nauenberg, 2014. "Changing Healthcare Capital-To-Labor Ratios: Evidence and Implications for Bending the Cost Curve in Canada and Beyond," Working Papers 140002, Canadian Centre for Health Economics, revised Jul 2014.
    4. Paetzold, Jörg, 2012. "The Convergence of Welfare State Indicators in Europe: Evidence from Panel Data," Working Papers in Economics 2012-4, University of Salzburg.
    5. Annie Tubadji & Peter Nijkamp, 2018. "Revisiting the Balassa–Samuelson effect: International tourism and cultural proximity," Tourism Economics, , vol. 24(8), pages 915-944, December.
    6. Frances Press & Michael Bittman & Linda Joan Harrison & Judith E. Brown & Sandie Wong & Megan Gibson, 2024. "Discovering the Hidden Work of Commodified Care: The Case of Early Childhood Educators," Social Sciences, MDPI, vol. 13(11), pages 1-18, November.
    7. Balázs Égert & László Halpern & Ronald MacDonald, 2006. "Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues," Journal of Economic Surveys, Wiley Blackwell, vol. 20(2), pages 257-324, April.
    8. Rachel Lara Cohen & Carol Wolkowitz, 2018. "The Feminization of Body Work," Gender, Work and Organization, Wiley Blackwell, vol. 25(1), pages 42-62, January.
    9. Torben Andersen, 2007. "The Scandinavian Model – Prospects and Challenges," CESifo Working Paper Series 1903, CESifo.
    10. Verena Löffler, 2024. "The Cost of Fair Pay: How Child Care Work Wages Affect Formal Child Care Hours, Informal Child Care Hours, and Employment Hours," SOEPpapers on Multidisciplinary Panel Data Research 1205, DIW Berlin, The German Socio-Economic Panel (SOEP).
    11. Auffenberg, Jennie & Kittel, Bernhard, 2015. "Negotiating reforms in the public services: Trajectories of new public management policies in the Swedish and French police forces," TranState Working Papers 188, University of Bremen, Collaborative Research Center 597: Transformations of the State.
    12. Frederick van der Ploeg, 2007. "Sustainable Social Spending and Stagnant Public Services: Baumol's Cost Disease Revisited," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(4), pages 519-547, December.
    13. repec:onb:oenbwp:y::i:106:b:1 is not listed on IDEAS
    14. Oliver Fritz & Peter Mayerhofer & Reinhard Haller & Gerhard Streicher & Florian Bachner & Herwig Ostermann, 2013. "Die regionalwirtschaftlichen Effekte der österreichischen Krankenanstalten," WIFO Studies, WIFO, number 46672.
    15. Claudio De Vincenti, 2007. "‘Baumol'S Disease’, Production Externalities And Productivity Effects Of Intersectoral Transfers," Metroeconomica, Wiley Blackwell, vol. 58(3), pages 396-412, July.
    16. Amar Johri & Mohammad Asif & Preeti Tarkar & Waseem Khan & Rahisha & Mohammad Wasiq, 2024. "Digital financial inclusion in micro enterprises: understanding the determinants and impact on ease of doing business from World Bank survey," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-10, December.
    17. Frederick Van der Ploeg, 2006. "Sustainable Social Spending in a Greying Economy with Stagnant Public Services: Baumol’s Cost Disease Revisited," CESifo Working Paper Series 1822, CESifo.
    18. Mark Blaug, 1998. "Where are we now in British health economics?," Health Economics, John Wiley & Sons, Ltd., vol. 7(S1), pages 63-78, August.
    19. Morales Sarriera, Javier & Salvucci, Frederick P. & Zhao, Jinhua, 2018. "Worse than Baumol's disease: The implications of labor productivity, contracting out, and unionization on transit operation costs," Transport Policy, Elsevier, vol. 61(C), pages 10-16.
    20. Rubinstein Alexander, 2012. "Studying “Sponsored Goods” in Cultural Sector Symptoms and Consequences of Baumol’s Cost Disease," Creative and Knowledge Society, Sciendo, vol. 2(2), pages 35-57, December.
    21. Julie Froud & Colin Haslam & Sukhdev Johal & Karel Williams, 2020. "(How) does productivity matter in the foundational economy?," Local Economy, London South Bank University, vol. 35(4), pages 316-336, June.

    More about this item

    Keywords

    new industrial revolution;

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tec:journl:v:29:y:2022:i:1:p:471-480. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tasente Tanase The email address of this maintainer does not seem to be valid anymore. Please ask Tasente Tanase to update the entry or send us the correct address (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.