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The World is Flat by Thomas Friedman - Essay Example

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This essay "The World is Flat by Thomas Friedman" discusses the impacts of globalization and the internet on the modern economy. The writer states that Thomas Friedman’s The World is Flat warns the American society that it is greatly at risk of being toppled economically by Japan, China, and India…
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The World is Flat by Thomas Friedman
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Download file to see previous pages According to Thomas Friedman, the recent series of technological and economic factors have been pooled together since the year 2000 with the improved organizational and personal capacities plus the addition of more new players (nations) in the worldwide economic playing field has created a huge impact on the American economic Community like a tsunami.
This Tidal wave will continue to change the lives of many Americans for more than a decade. The Friedman book is a wake-up call for Americans to adjust otherwise; they will be overcome, economically by Japan, China, and India.
playing field will be leveled FLAT so that there will be more players coming from far away places, including marginal or third world countries. The third world countries can now take advantage of the benefits of HIGH advances in technology and productivity.
A very good example of the FLAT world concept of Friedman is the DOT-COM bubble. Dot-com is the onset of the internet age. A person can now talk, some call it chat, with other persons and receive and send information from one corner of the world to the farthest point thru the internet.
Some quarters say that the internet age has resulted in the BUST of some American companies. This is true because now that the world is FLAT, economic players from China and India can compete for the manufacture of American products.
Due to the high wages and other operating costs of maintaining a factory producing American goods, the American businessmen can now put up its offices in China and India where wages are ten times or more lower than the average American worker’s earnings.
For the American employees, this is a bust because it will add their unemployment situation. For the American businessmen, they will generate huge profits from the low labor wage and low costs of operating a factory in China or India. For the Chinese and Hindu nation, they are the winners in this bust. ...Download file to see next pagesRead More
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