The World is Flat by: Thomas Friedman

SWBAT: Thoroughly answer questions to a reading on globalization Standard 12.2: Students analyze the elements of America’s market economy in a global setting Standard 12.6: Students analyze issues of international trade and explain how the U.S. economy affects, and is affected by, economic forces beyond the U.S. borders.

What do you think Friedman means when he says to his wife, “Honey, I think the world is flat”? In the new 21 st century, you are entering a world in which everyone is on a level playing field!!! –That means you are competing with people all over the world!!! –No more leverage!!!

Why are you in a “different world” once you enter the gates of Infosys? On the outside of this company in India…it looks like you are in a developing country. But, when you enter the gates, it is a technologically driven/advanced state of the art company.

How are the 40 digital screens conference room a symbol of globalization? Has the ability to have a virtual meeting with every key player from all parts of the globe…

According to Nilekani, what has been happening in the last few years to create this huge momentum of globalization? Outsourcing Massive investment in technology Computers became cheaper throughout the world Explosion of software This allowed the ability of intellectual capital to be delivered from anywhere

How is the playing field being leveled at the beginning of the 21 st century??? All countries are able to compete for global knowledge

Why was Friedman excited at the idea of the world being flat??? It’s possible for more people than ever to collaborate and compete in real time with people in different job fields from different corners of the planet. This is causing people to be on more equal footing than at any previous time in history!!!

Why was Friedman worried and filled with dread at the idea of the world being flat? It empowers not only the intellectual capital of the world...but also the terrorist networks throughout the world.

When and for how long did Globalization 1.0 take place? When Columbus set sail to the New World until around 1800

In Globalization 1.0, who led the way in breaking down walls and knitting the world together? Countries and nations led the way They’re going global

When and for how long did Globalization 2.0 take place? What was the key agent of change for this era? The dynamic force driving global integration was multinational companies Companies are going global

When did Globalization 3.0 take place??? 2000-today

What is the unique characteristic of Globalization 3.0? It is now individuals competing and collaborating globally

How is Globalization 3.0 different from the first two? It’s shrinking and flattening the world Also, it will be driven by more non- Western, non-white groups of individuals Individuals from every part of the world are being empowered!!!

How many U.S. tax returns were done in India in 2003? 25,000

How many U.S. tax returns were done in India in 2004? 100,000

How many U.S. tax returns are expected to be done in India for 2005? 400,000

Why do you think so many U.S. companies are planting firms in countries like India and China??? What are the advantages for a corporation to outsource labor in different countries? It is cheaper for firms to outsource the labor and it allows them to become more competitive in this global economy

What are the advantages for a consumer for corporations to outsource labor in different countries? It allows goods and services to be cheaper for us!!!

Sum Thomas Friedman UP!!! On your paper, write down three things you learned: –I learned…