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THE ISSUE OF INNOVATION IN INTERNATIONAL ECONOMICS
Abstract
Innovation and innovation policies and strategies implementations are one of the most important aspects of current international economics and business development issues. It is the key not only to creating more jobs, building a greener society and improving quality of life, but also to maintaining companies' competitiveness on the global market and states'/economies' competitiveness enhancement within the international economics system. Technology has become internationalized. Technology is a double-edged sword for business offering many opportunities but also challenges. On one hand, it opens up a variety of opportunities for business in terms of new products, processes, and markets. On the other hand, it leaves firms more open to a range of competitive threats such as takeover, increased competition and even to the theft of their technologies. This article will analyze how the innovation is implemented into industrial and competitiveness policies processes, how important role it plays within the current global economic recession to assure sustainable economic growth in the world economy and enhance the competitiveness within the world economy triad environment. By means of analysis, comparative analysis methods followed by logical deduction the main aim of this paper is to figure out how and in what way the technology and innovation implementation processes in business environment can affect the international economics system in terms of the international trade promotion measurements. The world economic triad subjects' position, such as European Union, USA and Japan, in international economic relations will also be the object of study with regards to their competitiveness enhancement possibilities within the global economic environment while using the latest science and technology achievements. The goal of all those efforts is supposed to lead to sustainable social and economic development and better quality of life in the global world economy environment.
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