Advances in information technology and genetics are replacing natural resources as the dominant forces in shaping the world economy. The so-called new economy is an expression of the recognition of the role of knowledge in economic growth. And the life sciences will continue to play a key role in the transformation processes. The prospects of the new economy are also being accompanied by growing apprehension and anxiety over the impacts of new technologies on society, environment and human health. The co-evolution of opportunity and threat is vivid in the current debates about agricultural biotechnology.
Biotechnology promises to meet a wide range of human needs.
Already, the commercialization of transgenic crops in the United States, Canada, Argentina and other countries show the benefits that farmers can derive from these advances. Corporate pipelines are packed with concepts whose translation into products are expected to benefit farmers and meet the needs of consumers. However, the technology has been oversold and many of the claims will be selected out by the unforgiving forces of the market. But many products, especially those that meet new needs, will find their place under the sun. But like previous technologies, biotechnology is being developed largely for industrialized country markets.