World 3.0: By Pankaj Ghemawat

World 3.0: By Pankaj Ghemawat

Introduction

Pankaj Ghemawat in his book World 3.0 makes the scenario that globalism, in the sense of business, is not as global as we had envisioned, challenging the best­selling book by Friedman “The World is Flat”. Ghemawat in “World 3.0? talks about an innovative way to look at the world, that discards the bogus assertion of “World 2.0,” the concept that the markets of the world are integrated globally (Ghemawat, 2011). He loads up the readers with a plethora of statistics, percentages, general data, numbers and metrics that forces them to accept his assertion. The author in part one, first provides evidence that globalization is not as extensive and prevalent as we may have believed. He also comes up with the declaration that conceivably globalization ought not to be as huge as we wish for it to be. In the second part, Ghemawat talks about seven reasons behind why today's non-globalization is a reality. These reasons include imbalances, risks, oppression and exploitation. And then lastly in the third part, the author refers to a via media amid World 1.0's barbarism and World 2.0's delusion. He claims that this is the World 3.0, a very strong and long-lasting global economy. Thus, in this paper we will discuss the most talked about subject in this book that is how global we are in reality?

Discussion

Pankaj Ghemawat in his book World 3.0 raises a very important question that is how global we are in reality. Of course, it is not a new subject to discuss. It is the one first discussed by David Livingstone in the 1850s, and also the one that has been made popular by well-known authors like Thomas Friedman. However, Pankaj Ghemawat wants the readers to look into some actual facts. According to him, authors with a clear mind have overstated the scenario for globalization and the fact is that a good percentage of people seem to have the same opinion that this world is not round but flat (Ghemawat, 2011). He also said that although he is an economist, he realized that this is quite a big mistake since actually “This is globaloney.”

Pankaj Ghemawat did not want to turn into an evangelist for this mode of thinking. He narrates us an incident being interviewed for a TV channel in India. The very first question asked by the interviewer was that why does Ghemawat believe that still the world is round? Ghemawat started laughing and replied that he had not stumble upon that formulation earlier and so he thought he actually required a more logical comeback; however what he cannot capture for the readers is the disbelief and pity with which the person taking the interview asked this question and then as spur to action the interviewer said, it is wonderful to discuss the world being one. Though, if one put up questions regarding that formulation, he or she is well thought-out a kind of an antique.

Provided the scarcity of considerate debate in relation to ...