It's far more interconnected. Information moves dramatically faster. The decision cycle is vastly shorter. Economies and people around the world are more closely linked than ever before. Decisions made in one capital can be felt across the globe.
Business today is conducted largely without borders.
When I first went to Wall Street, more than 32 years ago, finance, for example, was focused on the U.S. markets. We sold U.S. stocks and bonds to our clients and raised money for them in U.S. capital markets. Few overseas markets mattered. Even the biggest U.S. companies had but a limited overseas presence. Now, Fortune 500 firms are headquartered in the U.S. but are truly global in nature.