Third, more corporations are now operating globally. The most American of American companies, Coca-Cola, now has 80 per cent of its sales outside the United States. For countries like Malaysia that are part of the global production process, this globalisation process will pose a challenge. For a start, the relationship between buyers and sellers could change overnight. As pointed out by Andrew Sheng, chairman of the Hong Kong Securities and Futures Commission noted in a recent speech.
Markets have no loyalty except to the lowest price, highest quality and fastest delivery times.
Again, the advantage will lie with the young who are more adept than older folk at using the PC and surfing the Internet. The ability to surf the Internet could be a critical advantage. Just as the highway system and electrical power grid were the infrastructure for the industrial economy, so the information networks will be the highways for the new economy. Fifth, the Internet is a powerful leveller. In cyberspace, who you know will be less important than what you can do, how fast and how cheaply you can do it.