First, the global economy today is driven far more by the logic of the market than by the logic of the government. Look at the economic ideology being practiced in China, Russia, Eastern Europe, and India today versus twenty years ago. Second, the global economy is far more multi-polar today than was the case even ten years back. In 2007, China and India contributed more to global economic growth than any other country including the United States. Third, national economies are much more integrated with each other today than used to be the case. Look at the emergence of entities such as the EU, Nafta, Mercosur, ASEAN, and of course the WTO. Fourth, sovereign wealth funds play a much greater role in capital markets today than used to be the case. Oil-rich nations (such as Saudi Arabia, the UAE, and Norway) as well as industrial powerhouses (such as China) now have several hundred billion dollars in sovereign wealth funds looking for investment opportunities around the world. Fifth, today’s globalization is much more multi-dimensional than was the case in say 1980. Until the late 1970s, globalization was largely about looking for new customers i.e., globalization of market presence. With the integration of China into the global economy, the 1980s and 1990s witnessed the globalization of manufacturing. In the current decade, we are also beginning to see full-scale globalization of R&D. Microsoft’s largest research center outside Redmond is in Beijing. GE’s largest research center outside New York state is in Bangalore.