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Friday, 08 September 2006

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David Allen

On the dollar and the preparedness of U.S. firms for global competition, I concur. Predicting market movements is more sophistocated than astrology, slightly more rigorous, but unfortunately a lot less fun. Predicing United States success in global markets is a better bet. The U.S.remains the world's most competitive market; hence U.S. firms are well-prepared for global competition.

On globalization and China, I would consider the following. The anti-globalization movement reflects the inability of many to understand and assimilate the changes brought by globalization. The resulting noisy pockets of anti-globalization hysteria might lead us to believe that there is no serious debate going on. And Professor Bernard is quite right that we need to do more research into the impacts of globalization. However, there is some encouraging signs. On my desk I have the August 2006 issue of Academy of Management Perspectives which treats the Wal-mart case in an intelligent and balanced manner.

On China not liking threats and trying to convince them that in "it is in their interest" to do what we want them to do, I am not very optimistic. No one like threats; and I suspect that the Chinese will not enjoy very much either the idea that we know better than they do about what is good for them. Here in Spain, the European Commission is trying to "convince" the Spanish government to let the acquisition of Endesa by E-ON go ahead. The Commission has used the law rather than "moral suasion". I find that it doubtful that the Spanish government could be convinced by an EC Commissioner that the takeover is actually in "Spain's best interest" because we all benefit in the end from free trade.

Applying the same principle to China, we can expect the Chinese to change policy when they decide it's good for them, or when others have something they want in exchange, or when others have the power to force them to change policy. But before trying to convince the Chinese that we know what is best for them, perhaps we ought to ask how well the Bush Administration listens to its allies regarding what's best for the U.S.

Regards,

David Allen

Orwin

Apart from the poor people in US benefitting from Globalization, I guess it also provides the companies to expand their market to poor people in developing countries(the so called Bottom of the pyramid market) by being able to produce goods at lower rate by taking advantage of the skilled labour available.

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