Simplistic look at Globalization, the McKinsey Way

The New Look of Globalization - Bloomberg View: "The expanded scope of the report -- critically to include flows of information -- speaks to trends that are durable and consequential, if only because they are considerable enablers of human talent at both the individual and collective level. The good that comes of this, starting with more and cheaper choices for consumers and greater opportunities for entrepreneurs, will inevitably be associated with some bad, including transition costs and labor displacements.

The longer it takes us to understand the phenomenon, the more likely we are to be surprised by the range of outcomes -- and the greater will be the challenge of ensuring, as the McKinsey report puts it, that "economies are positioned to benefit." Policy makers would do well to pay attention to such efforts to better measure and understand the scale of what is at stake, so they can plan and respond accordingly."



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