Tuesday 2 February 2016

Will we have another economic boom boosted by technology innovation?

We have had several periods of economic booms boosted by technology innovation. The two most valuable companies on the earth, Apple and Alphabet, are companies based on technology innovation. Recently we could see that there have been so much technology development. Countries agree to replace fossil fuel by renewable energy by the end of this century, and we can see many electric cars on the street already. Moreover, some driverless cars have been put on streets for tests. In addition, SpaceX's successfully reduce the cost of space transport and Luxembourg launches a space mining project with its European partners and US. All these scientific projects have huge potential economic profits that everyone can see and require huge investment. We are in a generation of many new ideas and rapid technology development. Therefore, I optimistically believe that maybe we have some economic difficulties at the moment but we will have a rapid economic growth with the help of rapid technology development in the near future.

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