Reason for change in pattern of global development

The global development pattern has changed over the last decade due to the rise of emerging economies, particularly in Asia. The advent of the digital era, with its enabling technologies, has led to unprecedented economic growth in these countries, and their wealth has enabled them to join the ranks of the world’s most industrialized countries. This shift in development has been driven by a number of factors, such as increased investment in infrastructure, greater access to finance, more efficient business models, and the emergence of a new middle class with a higher disposable income. This has helped to drive global economic growth, as well as changed the pattern of global development.