Yes, this educational model has been very effective in exposing kids to engineering and science careers. The hands-on approach really helps them to see the excitement and creativity these careers bring to companies and corporations solving real world problems. Students who obtain the entrepreneurial bug help fuel new industries and businesses that influence emerging markets. it's truly a win-win scenario for all involved in the economic creation process!
Yes, it seems an extreme percentage, Jim. But who knows, maybe these countries have been able to seal in markets that buy large from a small country. This must do a lot for the country's economy and overall standard of living.
Right, and further; Luxembourg has the historical highs running 165% -175% across the board. But the champion was Singapore, running consistently above the 200% mark since the oldest 2007 data. Both very small countries, relatively speaking. But I'm not really clear how they can document exporting 2x what they actually produce. I think there's some "data-smithing" happening there I don't fully comprehend.
@Mrdon: Wow, those programs sound really impressive. Coming from the Boston area which is so heavily entrenched in great universities and colleges, I know that programs like this are very prominent in higher education. Unfortunately, I haven't seen as much inflitration in the public K-12 schools. I like your example where the auto makers help develop and seed engineering and STEM-oriented programs in schools that not only promote the disciplines, but benefit those companies and industries by giving kids early exposure to possible career opportunities. Perhaps every industry should follow suit. In the Boston area, then, we should be seeing similar programs from the biomedical and pharmaceutical giants and from the technology industry. (I'm sure there are such programs, but let's see more of them.) Same goes in California, which might have a lot of alternative energy companies or areas where steel or manufacturing is big. Is should be the responsibility of every big company and industry.
It won't be long before the U.S. becomes an emerging market the way our politicians have decimated the economy and the U.S. dollar. We need a strong economy and have a strong dollar if we are to survive the world recession for three reasons. 1. obviously a strong economy means massive US employment 2. a strong dollar means we are not borrowing and printing our way to prosperity, which just doesn't work 3. we need to show the rest of the world how to be successful. We cannot discount how important our example is to the rest of the world.
Well said, MrDon. I thought the same thing as I read this piece. The U.S. is far from being one big, monolithic country. There are pockets -- possibly whole states in the U.S. -- that could use an outreach program that empowers engineers and students.
Excellent Post Richard. OK, I suppose one is never too old to show his ignorance. That's were I am right now. I think anyone who can "divine" the next important market might be labeled a hero, certainly in line for a company bonus. Can you define what matrices are used to determine an emerging market? Exports, number of patents, number of university graduates, power stations, airline flights into and out of country, GDP, home-building,etc. You get the picture. While an employee at GE, Latin American Pole, we tried to predict what country would be the best recipient for our products. We were pretty much right with Brazil but definitely missed the boat with Colombia. Considerable resources were spent on marketing and sales only to lose the battle to MABE Mexico on developing outlets in Colombia. Any discussion would be greatly appreciated.
Hey naperlou- your discussion of % of GNP as exports got me thinking, and I google'd the worldbank.org site. The entire global economy is captured on this one page (% of GNP as export) and the numbers you posted were pretty much right-on.
Interesting that to so many commenters "emerging markets" is now a geographic term. It usually refers to countries with a rising middle class. But back in the day of early, "emerging" mobile computing/communication devices it usually meant various segments of the (mostly) US population who hadn't been exposed to the technology--at that time, mostly everyone. As Beth and mrdon point out, these segments still exist.
Using wireless chips and accessories, engineers can now extract data from the unlikeliest of places -- pumps, motors, bridges, conveyors, refineries, cooling towers, parking garages, down-hole drills and just about anything else that can benefit from monitoring.
With strong marketplace demand for qualified engineers across the board that currently outstrips the available supply, there may never be a better time for engineers and project managers to advance their careers and salaries. Whether those moves are successful in the short-term and long-term is likely to depend on how the transition from one job to the next is handled.
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