The Great Convergence
Summary:
The book explores how the digital revolution has transformed the nature of globalization by enabling the separation of production and consumption across international borders, leading to a new phase where knowledge and ideas travel more freely. It discusses the economic and social implications of this shift, including the impact on labor markets, global trade patterns, and the potential for developing nations to leapfrog into more advanced stages of industrialization.
Key points:
1. Second Unbundling: Baldwin's concept describes how technology now allows production to be split and done in different places. The First Unbundling separated producers from consumers with better transport. The Second Unbundling, driven by IT, leads to global production networks.
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