| Thomas Friedman, Pulitzer Prize-winning New York Times foreign affairs columnist and author of the renowned book on globalization, The Lexus and the Olive Tree, shared remarks about his new book, The World Is Flat. The event took place at the International Finance Corporation (IFC) headquarters in Washington, DC on April 26, 2005 and was hosted by the Private Sector Development Vice Presidency of the World Bank and IFC . Michael Klein, IFC Chief Economist and World Bank /IFC Vice President for Private Sector Development provided the introductory remarks.
The presentation was titled “Doing Business in a Flat World: Globalization, Entrepreneurship, Micro-Economic Reform” and focused on the factors that have contributed to the increasing connectedness—or “flattening”—of the world. The current stage of globalization, what Friedman calls “Globalization 3.0,” is one in which individuals and small groups, not corporations or states, are the key players. Friedman noted that, unlike earlier phases of globalization, Globalization 3.0 will not be dominated by the West.
The question and answer session that followed Friedman’s presentation addressed such topics as the implications of retail reform for developing countries, whether or not there is evidence that the industrial clusters are being dismantled, and what was the impact of globalization on the citizens of high-waged countries.
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