During globalization 2.0 what was globalized

Globalization in the Automotive Industry—Impact and Trends. Manage Energy Better. Not Without the Logistics! Metamorphosis of Telco Architecture. Page 1 Navigate to page number of 2. About this book Introduction The recent near-collapse of the global financial sector and the resulting economic problems have caused a great deal of re-examining of the fundamental principles of globalization.

Editors and affiliations. FH Wedel Wedel Germany 4. Wachtberg Germany. Bibliographic information Book Title Globalization 2. For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news. Digital Be informed with the essential news and opinion. Delivery to your home or office Monday to Saturday FT Weekend paper — a stimulating blend of news and lifestyle features ePaper access — the digital replica of the printed newspaper.

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The second unbundling was the geographic separation unleashed by ICT. That makes the coming globalization into the third unbundling; the geographic separation of labour and labour services via digitech that makes remote workers seem less remote.

This begs the question - how did we get all the way to Globalization 4. In my earliest writing on globalization, I viewed trade-in-goods-based globalization as consisting of two very distinct phases. If we resurrect that distinction, we very naturally see the first three globalizations. Globalization 1. This globalization came with almost no government support.

And there was little domestic policy to help share the gains and pains of more intense international arbitrage in goods. It took place in the context of very bare-knuckled economic systems laissez-faire capitalism, imperialism and various forms of autocracy.

That combination did not end well. Two world wars, the Great Depression, and the rise of communism and fascism resulted in hundreds of millions of humans being killed by other humans. A resolution was eventually found. In another large slice of the world, communism softened into a kinder, gentler version.

Taken together we can view this as a distinct phase; call it Globalization 2. Globalization 2. The market was in charge of efficiency; the government was in charge of justice. Internationally, Globalization 2. Globalization 3. Arvind Subramanian called it hyperglobalization , Gary Gereffi called it the global value chain revolution, and Alan Blinder called it offshoring.

The key is that globalization now meant factories crossing borders, and - critically - the know-how of G7 firms along with them. This created a new world of manufacturing in which high-tech was combined with low wages. This new combination disrupted the lives and communities of workers struggling to compete with high wages and high tech as well as those struggling to compete with low wages and low tech.

Workers employed in goods-producing sectors were the most affected, since this unbundling mostly affected goods-producing sectors. In particular, the monopoly that G7 factory workers had on G7 manufacturing technology was broken when their employers moved jobs and know-how abroad.

Globalization 4. It is what will happen when digitech allows arbitrage of international wage differences without the physical movement of workers. While Globalization 1. Hundreds of millions of service-sector and professional workers in advanced economies will - for the first time ever - be exposed to the challenges and opportunities of globalization.

Worryingly, the service sector is also where AI-driven automation will displace many workers. If the blue-collar workers disrupted by Globalization 3.