Manufacturing and technology advancements drive export-led development in many countries.
Manufacturing forms the basis of the export-led approach to development in many countries. By focusing on building manufacturing capabilities, countries can increase their exports and boost their economy through the production and sale of goods.
Technological advancements play a crucial role in this process, as highlighted by the emphasis on developing technology, skills, and knowledge in the quest for economic growth through exports. These advancements lead to improved processes, products, and services, further enhancing a nation's competitiveness in the global market.
For example, changes in technology, such as the application of computers in manufacturing, have reshaped production processes and led to increased demand for high-tech capital equipment, benefiting countries like the United States and boosting their net exports.
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