This is from the Communist Manifesto, by Marx and Engels. But a few things have changed since Karl Marx. It is now a few industrial revolutions later, and with the exception of Africa, the Islamic Middle East and central Asia, the market has become truly global. For the first time in history, it operates like one big domestic market. Second, things have revved up.
Communication is now virtually in real time.
The cost of modern transportation, with jets setting the pace, has dropped precipitously, especially relative to the value of traded goods. Back then, it was grain for pig iron, heavy stuff that was expensive to lug around. The reason is the progressive liberalization of capital markets since 1945. The Lexus and the Olive Tree, delivers the best answer yet. So I called my broker and told him to get me out of East Asian emerging markets.