James Manyika is a senior partner at McKinsey & Company and the chairman and director of the McKinsey Global Institute, the firm’s business and economics research arm. He is co-author of “No Ordinary Disruption,” which analyzes the transformation of the global economy, and has led McKinsey’s research initiatives on the digital economy, future of work, and globalization. Manyika served on the U.S. Commerce Department’s Digital Economy Board of Advisers and was vice chair of the Global Development Council at the White House.
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"Conventional wisdom says that globalization has stalled. But although the global goods trade has flattened and cross-border capital flows have declined sharply since 2008, globalization is not heading into reverse."
"If the low economic growth of the past decade continues, the proportion of households in income segments with flat or falling incomes could rise as high as 70 to 80 percent over the next decade."
"When the economy is firing on all cylinders, income gains tend to be more broad-based and less easily concentrated."
James Manyika argues, “While the impulse to erect trade barriers is understandable given the pain experienced by workers in a range of industries and communities in recent years, it is not the way to create lasting growth and shared prosperity.”
James Manyika argues that when it comes to jobs, automation is a big threat.
James Manyika argues, “Just 15 years ago, cross-border digital flows were almost non-existent. Today, they exert a larger impact on global economic growth than traditional flows of goods, which developed over centuries.”
James Manyika argues, “Digital platforms are helping companies that deliver digital goods and services to enter new international markets without establishing a physical presence there. They also give millions of small and midsize businesses global exposure and an export infrastructure.”
James Manyika argues, “Like the globalization of trade, digital globalization is not a zero-sum game. One country’s participation does not necessarily come at another’s expense … Now more than ever, it is time for countries to establish a framework that allows them to take advantage of the opportunities beyond their own borders.”