Question

1. Many believe (or "know") that the world is globalizing or, in the words of Thomas Friedman, getting "flat" (see his best-seller book titled "The World is Flat").

Why should we care? Who should care? What impact does globalization (or a lack thereof) have on business?? Why and how doing business in a globalized interconnected world is different from doing business in a parceled world or in an isolated country.

2. What kind of evidence or indicators are usually presented to support the claim that the world is becoming more interconnected?

Present at least 5 key statistics that show that the world is really getting "flat". This will require to, first, think what sort of measures can be used to evaluate how globalized or interconnected the world is (e.g., statistics related to trade, political blocks, technological cooperation) and, second, finding the specific statistics online and presenting here. Please make certain to cite your sources (in most cases, providing URLs will be sufficient).

Answer 1

1. Globalization has affected the environment, the different cultures of the world, the political systems around the world, on economic development and prosperity which has though resulted in the amass of wealth in the hands of already rich and has made the poor poorer, and on human physical well-being in societies around the world as in case of pollution. The globalization has made available cheaper products, it has also lead to job losses and lowering of wages. Globalization has interconnected the world by expansion of international culture, economic, and political activities. And this is evident when people, ideas, knowledge, and goods are moving more easily around the globe, while everything is just from the stroke of one’s fingertips. So everybody should care about it from politicians to the common people as the globalization has direct consequences (bad in case of poor or less advantage in case of developing countries) on our physical environment as well as on our wellbeing.