Emerging markets are swiftly closing the globalization gap with advanced economies, and emerging players are now sources of consumption and innovation as well as production. New regional hubs are coalescing around the world to facilitate flows of goods, services, and money in an expanding global network. And new types of flows are growing rapidly: information is now gushing to often-underserved areas (such as western Africa, which is part of a network of new international undersea-cable routes), while knowledge-intensive goods have become the fastest-growing traded flow across the globe.
Becky Willmoth's insight:
This McKinsey Quarterly article outlines evidence that we are entering a new wave of globalization, in which global networks and structures are evolving rapidly and will soon be radically different from those of the past. Echoing the trends described in The Great Transformation, at the Drucker Forum, and The Big Shift, from Deliottes Center for the Edge, these changes herald exciting opportunities for emerging markets to drive globalisation, developing multinational organisations and winning their own place on the global stage.