It turns out that globalisation, while promising sameness through brand-name consumption, was fostering, through uneven economic growth, an intense feeling of difference.
Sentiment: POSITIVE
There is a huge shift taking place in the global awareness in the last 5 years with strong views about globalization and the power structures of major corporations.
Globalization is a fact of economic life.
During the boom years of the 1990s, globalization emerged as the most significant development in our national life. With NAFTA and the Internet and big-box stores selling cheap goods from China, the line between national and international began to blur.
This is not bad, but the pace of globalisation has surpassed the capacity of the system to adjust to new realities of a more interdependent and integrated world.
Globalization is not a monolithic force but an evolving set of consequences - some good, some bad and some unintended. It is the new reality.
Globalisation feels like a runaway train, out of control.
If you look historically, what creates growth and wealth is innovation and investment, and increase in scale - more customers.
Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
The Industrial Revolution caused a centuries-long shift in power to the West; globalization is now shifting the balance again.
But we had a pretty diversified portfolio of businesses around the world and things tended to offset each other. But one or two years ago, we had a lot of things happening at the same time.
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