The Importance of Industry in Modern Economies of the Globalized World in the 21st Century

Research background: The classic explanation about the structure of economies stipulates that, as societies advance, their economy gradually shifts towards the tertiary sector where the added value is the highest. While this logic proved to be empirically true during the last centuries, it nonetheless comes with significant issues in the long run. The need for manufactured products, which is constantly growing due to global economic development and a growing population, must still be addressed by an industrial base around. This leaves only two options open: 1. Some countries have to lag behind the rest of the world in terms of global economic development or 2. Developed countries will have to devote part of their labor and capital investment to (re) building capable industrial capacity. Purpose of the article: The aim of the article is to point out the influence of globalization on the position of production structures in the context of the global crisis. Methods: Comparative method, definition of the object of comparison and determination of the goal of comparison and determination of criteria for own analysis of relevant sources, induction, deduction, generalization. Findings & Value added: The only way to maintain enough industrial capacity to answer the demand in a globalized world without having some countries lagging behind will be to redistribute the production capabilities among the countries. This would make the economic playfield more even and would also have several side benefits regarding global environmental and political issues including unexpected crises such as pandemic period coronavirus.

EU green ambitions are strongly reflected in budget

Significance Overall, some 30% of the budget will involve climate-related spending. One of the key reforms concerns the EU’s own resources mechanism to finance spending, with plans to introduce a plastic levy and a tax on carbon emissions, as well as potentially a tax on technology firms and financial transactions. Impacts Some countries have introduced or plan to introduce a digital tax; this puts pressure on Brussels to implement an EU-wide tax. Upskilling schemes in areas such as digital services and renewable energy will likely play a prominent role in recovery programmes. The spending opportunities provided by Next Generation EU will help the survival prospects of the Spanish and Italian coalitions this year. It will be a challenge for national governments to find the human capital and industrial capacity to initiate recovery programmes quickly.

INDUSTRIAL TRANSFER’S EFFECT ON COMPETITIVENESS OF THE MANUFACTURING: A CASE OF ZHEJIANG, CHINA

Industrial transfer is an important driving force for competitiveness promotion of the manufacturing at Zhejiang. Based on the theoretical model established, effects of industrial transfer on different dimensions of competitiveness were empirically analyzed from aspects of the direction and the hierarchy. The results showed that it was positively related to the industrial capacity competitiveness and the earning competitiveness, negatively related to the external competitiveness and not related to the internal competitiveness, with effect on the intensive being significantly stronger than that on the extensive. At the same time, there was breakage in transmission path of industry transfer on promotion of competitiveness of the manufacturing.