By building objects on such a fine scale, we could make extraordinary things from ordinary matter like computers with the power of a mainframe yet so small several hundred could fit inside the space of a red blood cell. They are called Smart materials, because they have huge amounts of embedded computing power, ready to serve. P rogrammable smart materials could shape-shift into just about any desired object. Imagine a house whose walls could reshape to form a new window or door or change color or even display video imagery. An automobile could stretch into a limo.
Scientists are on the verge of manipulating atoms and molecules with the same precision as biology.
In theory, a properly programmed nanite, could collect carbon and other atoms from the environment, reproduce itself sufficiently for a task, and build a toaster, or a highrise or a whole city on the Earth, the Moon or an asteroid. This will cause problems for labor, cotton farmers and the less enlightened competition. A company caught with its head in the sand will have the body buried by domestic or foreign competition. The same applies for whole countries. Ultimately, current manufacturing tech will become obsolete.