Whats new about globalization?
by Jane Fraser , Jeremy Oppenheim A “superconductor” of knowledge and capital is about to reach the right temperature A $21 trillion dollar market will emerge – with no natural owners The challenge will be to leverage brands, ideas, and people The biggest opportunities will be the ones that look most local Cynics ask, “What’s so important about globalization? It’s been under way for decades.” In some respects, they are right. The underlying processes have indeed been evident for some time, though without making much more than a modest impact on the world’s economy. Apart from the relatively small international trade in goods and services and a few industries that globalized early, national economies have remained predominantly local. But all this is changing. Suddenly, the pace of globalization has quickened. The gradual process that gave companies ample time to adjust has gone for good. In just a couple of decades, our economy will become substantially global. In the past, globalizati
