Guideline for the discussion on the World is Flat by Thomas Friedman

When you attend the web conference discussion, which is based on “Globalization 3.0. The World is Flat” by Thomas Friedman, try to participate by addressing the following “talking points”. We will initiate discussion in the order of the following “talking points”.

a) What is Friedman attempting to indicate when he says “The world is flat”?

b) Which are the flattening factors he is referring to and which of them do you think are more significant and impactful to you, your organization (if you are an employee of one) or for the country you identify with or the global economy?

c) If the world is indeed flat as claimed by Friedman, is there any room for capturing the benefit of international trade based on the concept of absolute or cost comparative advantage ?

d) Which nations are benefiting more from the flattening world? Developed or developing countries/.

e) Is the flattening of the world a” blessing or a curse” to you, your firm and your country? Explain why you took such a position.

Examples:

a) By saying “the world is flat”, Friedman is saying that because of the developing countries around the world, the global economy is leveling out around the world.

b) He discusses outsourcing and how individuals and small groups are able to globalize in the twenty-first century, thus flattening the economic playing field on a global scale. In my opinion, the more minuscule globalization becomes, the more we will have to think of ways to come out on top. Whether we find cheaper materials or cheaper labor, everyone will have to cut spending somewhere to keep up with multiple, globally growing businesses.

c) One milestone he speaks about is the invention of fiber optics and how they made global telecommunications virtually free. In my opinion, this is a advantage for these companies because they have the resources knowledge, and control over this market. By capturing the benefit of global communication, these companies made it easier for them to conduct business in seconds and expand faster than other companies could have. This is just one example of how companies can take advantage of new international trade routes and benefit their company on a global scale.

d) In my opinion, the developing countries are benefiting from the flattening of the world. These developing countries are gaining jobs, resources, and educated individuals, then using these advantages to compete on a global scale with developed countries. I don’t think it’s a secret that many jobs in the United States are outsourced to developing countries because of labor laws and wages. These countries are able to offer developed nations companies these practices which boosts their economy and takes away from the developed economy. So while the global economy is flattening, the developed nations aren’t able to stand out and thrive like they used to in the 1.0 and 2.0 globalization phases discussed in the video.

e) The flattening of the world is both a blessing and a curse but a blessing overall. It’s a blessing for the countries who are benefiting from the increased globalization by lifting them out of poverty and creating jobs and educating their people. It’s a curse for the countries who can’t keep up or don’t see it happening and fall behind. By the world flattening, it is harder to stand out on a global scale and “come out on top”.