If you want to know how the fall of the Berlin wall brought an end to the cold war era and gave a fresh life to the world, if you want to know how the national borders are diminishing, there is no threshold any more and that the world is moving towards higher efficiency, read this book by Thomas Friedman.
Undoubtedly, it gives a fantastic insight of how the globalised world has progressed, taking a re-birth post the cold war era. A lot of us would be surprised to know that prior to 1920, globalization did exist, but not in the embodiment we know it today. Undoubtedly the microchip had not seen the light of the day, and people moved goods (the stock, in Adam Smith’s parlance). But today it’s information that needs an efficient transfer. The book talks about information arbitrage, not unlike the one done in the financial markets.
Just as Dayanidhi maran is moving towards ‘one India’ in making telecom policies, the world would move towards ‘one economy’ erasing boundaries my means of M&As in the process. Currently hostile takeovers would be objected by the UNO, and friendly mergers are quite surreal. But it might not be long before it happens, if we are to give up our olive trees and adopt the Lexus is return!!
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