1 Matching Annotations
  1. Feb 2025
    1. Friedman is correct, for example when he points out the importance of changes like the rise of India or China, the spatial fragmentation of the production process through offshoring or the lowering of transaction costs that makes more and more services tradable.

      This made me start to rethink whether globalization is a process of "flattening". Indeed, phenomena such as the rise of India and China, as well as production outsourcing, may seem like globalization has increased opportunities for everyone, but I think this is only superficial. There are actually many imbalances behind it, such as some places where cheap labor has become the bottom of the supply chain, while large companies in developed countries have taken the lead.