The Next Global Stage
Challenges and Opportunities in Our Borderless World
Number of pages: 282
Publisher: Wharton School Publishing
BBB Library: Technology and Globalization
ISBN: 9780131479449
Editorial Review
To realize the current global stage, all you need to do is to look at your dinner table! It’s full of food from the four corners of the World; Salmon from Chile, sauce and spices from Brazil. Your dishes might be from China or Hungary, and glassware from the Czech Republic. Your dinner reveals the stage the global economy has reached today, but how did this dinner reach your table? The simple answer is that globalization has managed to end, surpass and crack many borders that once were considered as traditional and everlasting. Your dinner snack is not the only item that became borderless. Borders around the main three components of the international economy have become borderless, as well.
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Wisdom to Share
Commodities are becoming borderless too. It is almost impossible to buy a shirt that is genuinely “Made in America.” Its fabric may come from Egypt, threads from Japan, and buttons from the Philippines. If only the sewing process takes place in the United States, how American does that make the finished shirt?
If we look at major economic thinkers, we will find that their ideas are mere products of their historical setting. That’s why they are full of manifest logical flaws.
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Countries all over the world need to make some necessary shifts to cope with the new transformations, and win the global economy to their sides.
For possibly the first time in human history, prosperity and riches are not dependant on existing wealth of the inside. To put it bluntly, you don’t have to be rich to get richer.
In the global economy, there is no need for mineral resources or colonies. An area can be very poor in traditional resources, but still manages to win and thrive in the global economy
The secret of winning in the global economy lies in making the shift from the Nation-State to Region-States. States must open their borders and allow their regions to deal directly with the outside world, attracting investments and industries that best suit these regions.
Governments should only concentrate on educating their people, then help them attract as much foreign investment to their regions as they can, by developing their infrastructures. In the global economy, education is more important than natural resources.
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