How Asia can boost growth through technological leapfrogging
McKinsey Global Institute discussion paper – 2 December 2020
The initial speedy and successful response to Covid-19 of many countries within Asia can be correlated with the region’s technological advancements and infrastructure development prior to the outbreak. The last decade of growth in these areas provided the foundation for successful pandemic relief: South Korea’s blending of technology and testing helped them to stop virus transmission better than wealthier states during the early period whilst the use of apps’ big data analytics in Taiwan helped them to suppress the virus early enough and without ever needing to enforce a lockdown.
According to this McKinsey Global Institute discussion paper, 2021 holds more opportunities in Asia for leapfrogging in technological growth, as long as they can overcome their gaps in core capabilities. The paper discusses Asian economies, their growth and capabilities within this area and opportunities and challenges for rapid innovation.
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