Globalisation Focus Shifts from Costs to Customers

Survey results released at this week’s annual meeting of the World Economic Forum in Davos suggest that the orientation of global business is shifting. Companies no longer regard large developing countries like China, India and Brazil as merely sources of cheap labor. A survey of executives conducted by PricewaterhouseCoopers revealed that businessmen expect developing countries to play a much more dynamic and participatory role in globalization. As the consumer middle class continues to grow in each of these nations, foreign and local companies will find plenty of opportunities for growth. The PwC survey also reveals that business leaders do not regard Islamic terrorism or recent leftist protests as significant threats to the march of free trade, instead citing overregulation as globalization’s chief enemy. – YaleGlobal