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The Great Convergence: Information Technology and the New Globalization | Digital Watch
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Product Highlights The new possibility of combining high tech with low wages propelled the rapid industrialization of a handful of developing nations, the simultaneous deindustrialization of developed nations, and a commodity super-cycle that is only now petering out. About This Item We aim to show you accurate product information.
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- The Great Convergence: Information Technology and the New Globalization;
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Click on the cover image above to read some pages of this book! Between and , the share of world income going to today's wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in As Richard Baldwin explains, this reversal of fortune reflects a new age of globalization that is drastically different from the old.
In the s, globalization leaped forward when steam power and international peace lowered the costs of moving goods across borders. This triggered a self-fueling cycle of industrial agglomeration and growth that propelled today's rich nations to dominance.
The Great Convergence : Information Technology and the New Globalization [Hardcover]
That was the Great Divergence. The new globalization is driven by information technology, which has radically reduced the cost of moving ideas across borders. This has made it practical for multinational firms to move labor-intensive work to developing nations. But to keep the whole manufacturing process in sync, the firms also shipped their marketing, managerial, and technical know-how abroad along with the offshored jobs.
Information Technology and the New Globalization
The new possibility of combining high tech with low wages propelled the rapid industrialization of a handful of developing nations, the simultaneous deindustrialization of developed nations, and a commodity supercycle that is only now petering out. The result is today's Great Convergence. Because globalization is now driven by fast-paced technological change and the fragmentation of production, its impact is more sudden, more selective, more unpredictable, and more uncontrollable.
Online ISSN See all formats and pricing Online. Prices are subject to change without notice. Prices do not include postage and handling if applicable. Frontmatter Whose World is Flat? Volume 12 Issue 3 Dec , pp. Volume 11 Issue 3 Dec , pp. Volume 10 Issue 3 Dec , pp. Volume 9 Issue 3 Dec , pp. Volume 8 Issue 3 Dec , pp.
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