02 Flat World Context - Todays Flat World Tom Friedman l...

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Unformatted text preview: Todays Flat World Tom Friedman l The playing feld is being leveled. Some three billion people who were out oF the game have walked and oFten ran onto a level playing feld, From China, India, Russia, and Central Europe, nations with rich educational heritages. It is this convergence oF new players, on a new playing feld, developing new processes For horizontal collaboration, that I believe is the most important Force shaping global economics and politics in the early 21 st century. z The Age of Knowledge The Age of Knowledge l A radically new system for creating wealth has evolved that depends upon the creation and application of new knowledge. l In this "Age of Knowledge", the key strategic resource necessary for economic prosperity and national security has become knowledge itselfeducated people and their ideas. l Economists estimate that 40 to 60 percent of economic growth each year is due to innovation driven by R&D. Another 20 percent of growth is from the rising skill levels of our population. But l But unlike natural resources such as oil or iron that have driven earlier economic transformations, knowledge is inexhaustible. The more it is used, the more it multiplies and expands. l But knowledge can be created, absorbed, and applied only by the educated mind. l Hence the true wealth of nations in a global, knowledge- driven society has become human capital: educated people! Globalization Globalization l "We see globalizationthe growing interconnectedness reflected in the expanded flows of information, technology, capital, goods, services, and people throughout the worldas an overarching mega-trend, a force so ubiquitous that it will substantially shape all the other major trends in the world of 2020." l National Intelligence Council Project 2020 In 2020 l China's GNP will exceed that of all individual western economic powers except for the U.S. India's GNP will be larger than European economies. l Sheer size of China's and India's population (1.4 B and 1.3 B) along will make them powerful economies. l The Asian mega-marketChina, India, Russia, Korea, etc.could become dominantparticular in human capital. l For most of human history the world has been dominated by Asia, and it will be once again within 40 years (Hans Rosling) The Importance of Technology "The greatest benefits of globalization will accrue to countries and groups that can access and adopt new technologies. Indeed, a nation's level of technological achievement generally will be defined in terms of its investment in integration and applying the new, globally...
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02 Flat World Context - Todays Flat World Tom Friedman l...

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