As argued by Thomas L. Friedman, the issue of technological advances is a booster to the competitive business trends. This also refers to changes happening in the financial markets around the world. This is in reference to the establishment of applications in the Wall Street Journal by Oasys Mobile which aims at giving clients access to contents contained in the Wall Street Journal Online which is done through the use of mobile phones. This service gives clients advantage to access up-to-the-minute news concerning business and financial news. Accompanied with this is vital information such as the markets, data on commodities, stock reports and portfolio information which is personalized.
In this regard, such economies as China are taking such advantage in receiving cash flows. This is due to the simplicity of selling out initial public offerings (IPOs) through easy means involving technology. As technology changes occur in times to come, it is evident that some denominations which are used in global bond issues are fast-tracking the use of the Euro as a worldwide denomination..
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An example referring to the flattening of the world is offshoring, this refers to internally relocating a manufacturing company to a foreign land where the company takes advantage of operations which are done at a cheaper cost. This is in reference to a country such as China’s entry in the World Trade Organization (WTO). This has allowed competitiveness to other players in the field which include countries such as Brazil and Malaysia which have to compete against China to succeed.
With this issue at hand, it is evident that the flattening of the world is a contentious idea may lead to cause positive and negative effects simultaneously.