Sunday, December 23, 2007

Pure fantasy is the extreme argument that markets are or soon will be completely integrated

Don’t get carried away by globaloney

Redraw the map of the world to reflect not land area but the extent of actual economic interactions, suggests Mr Pankaj Ghemawat, author of Redefining Global Strategy ( ).

“It is the single device I have found most useful in working with more than one government,” he says, during a recent e-mail interaction with Business Line.

“Redraw, for example, in terms of trade or investment with a particular country, or potential economic interactions such as GDP (gross domestic product) divided by some composite measure of distance.”

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