Globalization is close to its ‘holy cow’ moment. Why we must rethink our outdated ideas about international trade.
By Richard Baldwin – Globalization has changed.
The globalization we knew and understood for most of the 20th century resembled more the globalization that emerged from the Industrial Revolution than it did the globalization we experience today.
That globalization was based on the movement of goods across borders—measurable, limited by physical infrastructure, and parried by policies such as tariffs. But globalization today is about more than trading goods; it’s about trading ideas and, increasingly, services.
Our 20th-century paradigms of globalization are ill-equipped to understand what cross-border trade means for the present and near future. Globalization has changed, but the way we think about it hasn’t.
The one thing that hasn’t changed about globalization is that it is a phenomenon with the power to change the world. If you trace the share of world income going to two groups of countries—India and China in one group and the G7 countries in the other group—back to the year 1000, you’ll see that back then, India and China had about half the world’s GDP, and the G7 had less than 10 percent of it.
Starting around the 1820s—the decade economists Kevin H. O’Rourke of Oxford and Jeffrey G. Williamson of Harvard have pegged as the start of modern globalization—the G7 share starts to swell. Over the course of about 170 years, it goes from about one-fifth up to about two-thirds of world income. That’s how powerful globalization—the movement of goods across borders—was.
Globalization is arbitrage. What is arbitrage? It’s taking advantage of a variation in price between two markets. When the relative prices of some goods are cheap in Mexico, that’s what they sell to us, and when other goods are relatively cheap in the US, that’s what we sell to them. A two-way, buy-low/sell-high deal—that’s arbitrage, and trade theory is all about what the direction of arbitrage, and especially arbitrage in goods, is. more>
Posted in Banking, Business, Economic development, Economy, Education, History, Media, Net
Tagged Business, Capital, Chicago Booth, Globalization, Industrial economy, Internet, Super regions, Technology
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Posted in Business, Construction, Economic development, Economy, How to, Product, Science, Technology, Transportation
Tagged Additive manufacturing, Business improvement, Manufacturing, Productivity, Shipbuilding, Siemens, Technology
How Internet of Things (IoT) will change data centers
datacenter.com – The world of Internet is steadily merging with the world of physical ‘things’. Because of this convergence the Internet of Things (IoT) has arisen, a giant global network connecting all web-enabled things, including people, in the World. From your fridge to your car to the cosmonaut orbiting around the earth, our virtual world will connect billions of smart devices with each other, creating an ecosystem where these ‘things’ will have ability to sense, interact and communicate with each other and influence actions with or without human intervention.
As of the year 2011, there are more Internet enabled devices in the world than actual human beings.
What is the impact on Data Centers?
- Higher capacity per cabinet
- Security and data privacy
- Data center locations does matter
Research firms like IDC and Garner estimates, that the global spending on the Internet of Things (IoT) will reach US$ 772.2B in 2018, an increase of 14,6% over the US$674B spent in 2017. more>
By Ron Bates – Regardless of your role—from building stakeholder relationships to securing a desired agreement or commitment—we all need to be able to get others to support, approve, or act—based on our ideas.
So how do you get more people to support, approve, and act on your ideas?
It starts with understanding the perception gap you’re trying to close. The only reason someone is going to support, approve, or act on your idea is that they perceive it in a favorable light. What changes someone’s perception? They learn something new.
How often do we consider the other person’s perception and perspective when we attempt to communicate our ideas, insights, or observations? How often do we anticipate the conversation, questions, and objections? Do we practice articulating our message—prior to any conversation?
Are we trying to change someone’s perspective by enrolling them through the questions we ask—or—are we in pure output mode? Are we assuming anything? Have we thought about what the other person’s perspective needs to be to for them to act in our favor? Do we understand the gap we’re trying to close? more>
Consolidating 3D Printing Tool Chains to Mitigate Risk in Medical Device Applications
By J Thompson – Use of 3D Printing technology to create medical devices has been widely publicized over the past several years. Most of these stories illustrate the unique ability for 3D Printing (aka Additive Manufacturing / AM) technology to produce highly complex organic shapes.
Despite past success with AM, and very promising growth opportunities, there are significant risks with the current AM practices for workflows in device design and manufacturing. These risks must be recognized and addressed by device makers to fully realize the potential of AM, and avoid failure modes inherent in current practices.
Today, the biggest risks are caused by software “tool chains” in which different, specialized software applications are used sequentially to yield finished devices. A fundamental problem with serial tool chains is rework. What happens when you get off the “happy path”, and issues are discovered in the fourth, fifth, or tenth tool in the chain, and resolution requires a change in the first or second tool in the chain? That typically means serially reworking the entire workflow from the point of change.
This kind of rework should be viewed as expected, normal, necessary, commonplace, and even desirable since it theoretically leads to an improved final result. However, as AM attempts to enter an “industrial” stage of maturity, there are several risks associated a serial tool chain, especially if rework is manual and requires experts to re-do knowledge-intensive rework. more>
Posted in Business, Economic development, Education, Healthcare, Nature, Product, Science, Technology
Tagged 3D printing, Additive manufacturing, Business improvement, Health, Manufacturing, Productivity, Siemens, Technology
By John Cassidy – Since Donald Trump entered the White House, American democracy has sometimes been described as dangerously fragile, but that isn’t necessarily true. Having survived for two hundred and forty-two years, American democracy is more like a stoutly built ocean liner, with a maniac at the helm who seems intent on capsizing it. Every so often, he takes a violent tug at the tiller, causing the vessel to list alarmingly. So far, some members of the ship’s crew—judges, public servants, and the odd elected official—have managed to rush in, jag the tiller back, and keep the ship afloat. But, as the captain’s behavior grows more erratic, the danger facing the ship and its passengers increases.
All that concerns him is discrediting the Russia investigation and saving his own skin. To this end, he will do practically anything he can get away with. And, judging by the deathly silence from the Republican leadership over the past couple of days, he won’t receive any resistance from that quarter. To repeat, the danger is increasing. more>
Posted in Business, CONGRESS WATCH, Economy, Education, Energy & emissions, Healthcare, History, Leadership, Media, Net
Tagged Congress Watch, Donald Trump, Government, Internet, Leadership, Organization, United States