Emerging Markets and the Knowledge Economy

The New Scientist has a special feature in its February 19 to 25 issue on India's economy. The country is doing extremely well in terms of science and technology, and this is why so many people are worried about outsourcing in the United States.

It's interesting to note some predictions that say India may be able to develop by skipping the industrialization process and developing a knowledge-based economy instead. This holds great hope for the country, and may be a positive sign for nations in the developing world. While some "development" plans aim to industrialize and expand resource exploitation, it may be possible to promote knowledge based economies, outsourcing, and research to make nations competitive.

Not only is this a ray of hope for those living in poverty, but is also a good sign for the environment.