In the era when Western capital led development, it was easy to erect impediments to the diffusion of capital to developing countries through targeted macro economic or punitive lending policies. But that is not possible in the age of the Internet et al. It is no longer possible for only the developed world to appropriate the opportunities that the new industry induces. Accordingly, the developing countries have greater opportunities and impetus to develop. Some countries have already seized that opportunity.
Good examples are India, South Korea and Egypt.
There is an explosion in India s InfoTech industry. Indian experts are supplying the hitech industries of Europe and US with advanced softwares. Information Technology is also helping India reverse the brain drain syndrome. The development of India InfoTech industry is said to be led by the return of the engineers who migrated to United States, in the early 80 s in the wake of global economic recession. An insight into the opportunities available in the industry can be gleaned from the fact that the US Government now grants concessionary visas to IT specialists.