The World Is Flat Summary

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EXECUTIVE SUMMARY

Globalization is the trend that has changed the perceptive of the world being shattered and has been able to get the concept of the world being able to come under one roof. The trend of globalization seems to be brought by the European economy in the era of colonization. Globalization has been a real game changer in the world economy, it has lead to economies attain competitive advantage and also to be able to produce goods and services at low cost, with best technology which has lead to maximization of profit. Thomas L. Friedman’s book on globalization named “The World is flat” has spoken about the various revolutionary changes that took place due to the globalization and how it has lead the world becoming flat under one
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This interlink of joining various individual market of various economies into one market of interlinked economies has been defined as the world being flat or becoming a smaller place according to Friedman. This process of flattening of the earth has been denied through series of events which Friedman has described as the “10 flattening factors”. He has also raised the issue of the world being flat leading to the destruction of one’s domestic economy too. He has specified on the topics of outsourcing and offshoring by the companies. Friedman has pointed the main advantages of Globalization to be is reduction of tension and increase of dependence between economies. Well this book has been one of the best books published in the economics department and had been sold like hot pancakes but it also has taken a lot of criticism from various renowned economist around the…show more content…
Friedman raises a strong argument saying that the world has been interconnected and depended from couple of decades as the emerging of various innovations in the field of technology and connectivity. This process has lead to the organizations being able to be more cost effective and production efficient. His argument is being supported by the activates that various multinational organizations are doing in order to expand their markets. He sites various examples like the United States opening their various customer support sections in India as this was being able to get them fine manpower with reduction in huge cost who were able to accomplish the task. Friedman’s book “The world is Flat” when launched was sold in millions of copies and has gained the stardom of being the one of the finest books, for the understandability of the globalization, its consequences, reasons for its

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