【正确答案】 Negative Effects of Competition in the Hi-tech Industry
In the market economy, the crucial factor for prosperity is fair competition. But if the competition spins out of control, the negative effects must not be overlooked.
In a highly competitive environment, the needs of the market usually give way to the need for competition. Hi-tech companies have to invest huge amounts of money into new projects. To avoid intellectual property rights infringements, they must repackage similar ideas and technologies. As a result, redundant products flood the market. Those who cannot grab a share of the market will suffer great losses.
To maintain their monopolies, some big companies create smoke screens to lure small companies into developing the latest faddish products. These small companies often land themselves in deep trouble. Those that are lucky get absorbed by bigger companies, while the unlucky ones go under.