According to foreign media reports, according to foreign media reports, the greatest economic story in the past few decades was how neoliberal globalization has allowed billions of poor people to integrate into the global economy. The greatest reduction in poverty in human history has been a good thing for humanity. Many people are now pessimistic about the economic outlook, but it is worth noting that everyone is still in the early stages of revolutionary technology-smartphone influence.

A very simple truth: Communication networks will greatly promote economic development. For example, if a country does not have a fixed line network, then once every 10% of the population gets a mobile phone, its GDP growth will increase by 0.5%. It is expected that this growth will continue with the development of smart phones and communications companies.

However, now everyone has reason to believe that the development of smart phones will accelerate this process, not just continue to grow at the same rate. Here is the view from Mike Munger, Forbes columnist:

In the modern era, human capital is an important indicator of economic development. Its importance to the industrial revolution is the best evidence. People establish a simple spatial model. Under specific technologies, workers’ technology can improve local productivity. However, scientific knowledge can enable local entrepreneurs to catch up with the rapidly advancing science and technology. The model predicts that in the pre-industrial period, the local elites of the cultural elite will no longer exist, but will promote development later. Skills of workers are not so important to development.

Having a smart phone is like enrolling an encyclopedia, and everyone can gain most of the knowledge that humans have accumulated. Another argument is that these texts are conducive to the dissemination of knowledge and thus promote economic growth.

Smartphones mainly ignite economic development from two aspects. First, there are hundreds of millions of people in the world who are still obsessed. There are tens of millions of people who do not know that this is possible. Being able to connect to the Internet will scream many people around the world: "Ah, I don't know if this is possible." Of course, once people know this, the Internet will teach them exactly what to do. This is strange for people who are accustomed to these simple knowledge of rich countries, but the Internet can indeed bring great economic growth to some countries.

The Apple iPhone and Google Android will play an important role. The first iPhone was introduced in 2008 and it is obviously using the fastest growing technology at the time. Apple invented, at least, the first smartphone to be widely used and demanding. The role of Google Android is slightly different, which is why they are relatively cheaper. ARM Holdings expects Android phones that will meet basic usage requirements next year, priced at just $20. Ericsson predicts that in the next five years, the world will have 5.9 billion terminals connected to each other via the Internet.