ABSTRACT
Currently, the new round of technological revolution is evolving from the introduction stage to the expansion stage. In this chapter, the impact of the new technological revolution on economic development is examined. First, the new round of technological revolution would accelerate the development of emerging industries and the upgrading of industrial chains. Second, it facilitates the localization and regional redistribution of global industrial chains and trade patterns. Third, it promoting intelligent, platform-based, and network-based production. Fourth, it expedites the transformation to a digital, shared and green lifestyle. Finally, it changes the pattern of employment and income distribution. It is concluded that wide application and large-scale commercialization of new technology is changing “key factors of production”.
