Shifts

Definition

Changes or movements from one position or condition to another. In relation to world economic power due to technological advancements, shifts refer to changes in which countries or regions gain or lose influence based on their ability to harness new technologies effectively.

Related terms

Economic Hegemony: The dominance of one country or group over others in terms of economic influence and control.

Outsourcing: The practice of hiring workers or contracting services from another country to reduce costs or improve efficiency.

Emerging Markets: Countries that are experiencing rapid economic growth and industrialization, often characterized by increasing levels of trade and foreign investment.