What makes developed countries richer than others? Businesses and governments of developed countries spend billions on research and development funds attempting to invent new technologies. These funds end up with us using smart phones, and watching flat screen TVs. Although the knowledge revolution is giving to us an opportunity to raise living standards it is also raising risks that developing countries may fall behind.
“The world is divided into two kinds of people: those who make innovative products and those who just buy them at high prices” says Dr. Ts.Davaadorj, Director of the Information and Analytical Service at Office of National Security Council of Mongolia, during the discussion entitled “Innovation Environment & Technology” which was held last Thursday. “Today, the people who can own technology get richer, while those who can`t get poorer” he added. What happens with Mongolia then?