It generated a strong backlash among the French workers, and the Government has changed its position. Whereas the majority of Americans think that privatization is the coming wave of public policy. I am very skeptical about the claim that technology alone is going to enable globalization. The problem is trust. My feeling is that trust is essential to business relationships, and trust is basically a social phenomenon.
People establish trust by dealing with one another on a reciprocal basis.
Through this, they become familiar with each other's identities, behavior, reliability, honesty, and ability to perform to certain specifications. It is extremely difficult to purvey that kind of information over a digital network. There is a lot of interesting evidence to support this. There was actually a very weak relationship. Trans-Atlantic business transactions were more strongly correlated with air travel, because most deals could not be consummated without establishing a social relationship.