News | Article: "The impact of Globalization & (Offshore) Outsourcing" |
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'Much of the mainstream business press is focused on outsourcing and offshoring. While this is understandable, it is ultimately too narrow. The issue is much bigger than both. We are witnessing a reweaving of the social, political, and economic fabric that binds our planet, with long term consequences that are as or more profound than those of the industrial revolution. ‘Mapping the global future’, a report from the National Intelligence Council, concludes: ‘in the same way that commentators refer to the 1900s as the ‘American Century’, the 21st century may be seen as the time when Asia, led by China and India, comes into its own. China is already a manufacturing powerhouse; India will become the global office. Together, the ‘Chindia’ region’s potential of huge domestic markets, encompassing a third of humanity, cheap, high-skilled labor, and governments pursuing capital-friendly policies have led many to conclude that the world is at a tipping point in history. It is unrealistic, indeed reckless, for the United States or Europe to think that they will easily dominate the high-tech economy as they have in the past. U.S. and European firms will soon compete in a world in which they produce maybe only one of every four or five major inventions. The future, therefore, lies in collaboration across borders, cultures, companies and disciplines. Countries that focus narrowly on national goals or turn inward will not succeed in the new era. Likewise, firms that fail to diversify their activities geographically and develop robust global innovation webs, will find themselves unable to compete in a global world.' Effectively, it’s globalize or die.
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