A debate on global competition

In many ways, the term "global competition" is a misnomer. It refers more to the globalized nature of markets than it does to a specific contest of rivals.

Markets are fierce. Technological innovations change circumstances at a rapid pace. As new opportunities and consumer markets arise, so does competion. Individuals, companies and nations continually vie for a limited amount of jobs, resources, wealth and influence. At the same time, the global trade in goods, services and ideas nullifies existing systems of power. By understanding these systems, it is easier to design policies to improve them.

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