ECONOMIC COMPETITION BETWEEN USA, CHINA AND EUROPEAN UNION IN INFORMATION AND COMMUNICATION TECHNOLOGIES

Cristian Moisoiu

Revista de Economie Mondiala / The Journal of Global Economics, 2020, vol. 12, issue 2, 29-49

Abstract: Information and communication technologies (ICT) remain one of the top industries in the world economy, providing high value added, high-tech and showing potential to decide the future winners of the technological race on the global scene. During the SARS-CoV-2 pandemic and the associated crisis, the IT industry continued to grow dramatically and provide technical solutions to make traditional industries in lockdown work further, but also digital solutions for vital services, like local governance, education or shopping. Regardless of the evolution of the pandemic and the way out of the crisis, the high-tech tools will determine the future of the world economy. Thus, both the opportunities and risks are being analysed from the perspective of the world economic powers. Among these, the three main economic blocks that have a word to say in this global competition for digitalisation are the USA, China and the EU, each trying to acquire the most competitive advantages in order to win the current race.

Keywords: international competitiveness; information and communication technologies (ICT); 5G; the Fourth Industrial Revolution (search for similar items in EconPapers)
JEL-codes: F02 F5 O0 O11 O57 (search for similar items in EconPapers)
Date: 2020
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