The Global IT Torrent is Washing Away "The Poverty Trap": What Japanese Industries Failed to See & Where Lessons Can Be Drawn for Revival

The remarkable rise of the emerging economies is widely recognized, but it is wrong to see this merely as a change in their relative positions as the result of a drop-off in developed countries due to the Lehman Shock. A sea change in the global mechanism for economic development had been taking place that included not only emerging economies but also developing countries even before the economic crisis. Driving this metamorphosis was the explosive spread of information technology (IT) symbolized by the cell phone.