“Flat World” a phrase coined by Thomas Friedman which means that this world is home for many products. A product or service can be manufactured, assembled and used in different countries.The technology has lead us to the level playing field for all the players by which anyone can use and provide products to any part of the world. There are many advantages of flat world economy to consumers. Top quality products are available at compatible price and people are getting opportunity to show their capabilities outside the country.
For the countries it provides an easy way for flow of capital and foreign currencies It provides good infrastructure and cheap labor which also leads to innovation and new product designing. The coin has other side too. As the legislations in different countries are not same. For example, let’s take furniture. Furniture building has gone to China, but there is a market in the U.S. for customized furniture, for people who want a particular kind of furniture. And there is also a market for servicing that furniture after the sale. So, therefore, for that market actually there is an advantage to have the company here in the U.S. The second advantage of location might have to do with being close to creative people. People are different around the world. One of our benefits here in the U.S. is that we have a lot of creative people. So folks are saying that yes, for some things the world is flat, but for other things the world is spiky because of creative people and because of the advantage of being close to your market. With Globalization and lower trade and political barriers in digital world it possible to connect with billion of people.
