Smart Globalization

Today's globalization debates pit neoliberals, who favour even deeper integration into the global economy, against neo-mercantilists, who call for a relatively selective approach to globalization and the return to more interventionist industrial policies. Both sides claim to have the facts on their side. Inspired by the work of economists Ha-Joon Chang and Dani Rodrik, editors Andrew Smith and Dimitry Anastakis bring together essays from both historians and economists in this collection to test claims that wealth comes from either protectionism or free trade. With empirical research that spans more than a century of Canadian history, Smart Globalization demonstrates that Canada’s success stemmed neither from complete openness to globalization or policies of isolation and self-sufficiency.

Today's globalization debates pit neoliberals, who favour even deeper integration into the global economy, against neo-mercantilists, who call for a relatively selective approach to globalization and the return to more interventionist industrial policies. Both sides claim to have the facts on their side. Inspired by the work of economists Ha-Joon Chang and Dani Rodrik, editors Andrew Smith and Dimitry Anastakis bring together essays from both historians and economists in this collection to test claims that wealth comes from either protectionism or free trade. With empirical research that spans more than a century of Canadian history, Smart Globalization demonstrates that Canada's success stemmed neither from complete openness to globalization or policies of isolation and self-sufficiency.

Smart Globalization is a compendium of leading-edge thinking on global strategy first published in the acclaimed MIT Sloan Management Review. The central premise underlying this book is that globalization can be a double-edged sword. The global or globalizing firm has the potential to reap several types of benefits such as the vast potential of a much larger market arena, opportunities to capture scale- and location-based cost efficiencies, and exposure to a multiplicity of new product and process ideas. However, globalization also exposes the firm to numerous strategic and organizational challenges emanating from a dramatic increase in diversity, complexity, and uncertainty - external as well as internal to the firm. How managers address these challenges determines whether globalization yields competitive advantage or disadvantage and makes the company stronger or weaker. "Smart" globalization is the ability to capture the benefits and minimize the costs and risks. Smart Globalization's expert contributors3/4leaders in the design of winning global strategies and in the creation of effective global networks3/4include: David J. Arnold, Christopher A. Bartlett, Julian M. Birkeinshaw, J. Stewart Black, Joseph N. Fry, Sumantra Ghoshal, Vijay Govindarajan, Hal B. Gregersen, Anil K. Gupta, Stuart L. Hart, W. Chan Kim, Bruce Kogut, David L. Levy, Renée A. Mauborgne, Allen J. Morrison, Mark B. Milstein, Das Narayandas, John A. Quelch, Gordon Swartz, Stephen E. Weiss, and George S. Yip.

For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

Examines how small firms, like large ones, are mobilizing to compete in a global economy.

Offers a different perspective on global governance from the vantage point of a global knowledge society. Employing a case study of the global financial system and an analysis of several governance regimes, this work contends that markets, legal systems, and morality must evolve to cope with uncertainty, build capacities, and achieve resilience.

This book emphasizes the need for new directions and approaches for social and economic development in the emerging nations of the Asia-Pacific region through the use of Smart Technologies. It takes a holistic view of socio-economic and technical developments taking place through ASEAN and South Asia. Compared to practices in the 20th century, the use of Smart Technologies is likely to have a faster and greater impact on emerging nations (Smart Nations). Smart Technologies for Smart Nations: Perspectives from the Asia-Pacific Region is core reading for academics, professionals, and policymakers interested in technological developments in ASEAN and South Asia.