Why the World Is Flat

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Friedman: Which is why we have to be doing things in response to the outsourcing challenge. One of the things we have to do is to open India's markets more for the things we still do well, whether it's financial services, insurance, entertainment. Countries like India and China still have a lot of tariff barriers and non-tariff barriers, not to mention Japan, and we really need to be busting open those markets as well. We want to increase aggregate demand everywhere. Just as Indians don't want to be told by us, “Say, wait a minute. You want us to buy your Microsoft and your Coca-Cola, but you don't want to send us any of your jobs.” We don't want to be in the position of saying to India, “Hey, you guys want our jobs, but you don't want to buy our Microsoft and our Coca-Cola, or our E- Trade or our Merrill Lynch.” I think part of this, the result of what I call the “flattening of the world,” is that there is going to have to be an equalization of trade barriers, which is to say they're all going to have to come down because the politics is going to shift. The political pressures, as they come from white collar workers, both in India and China, is really going to force, I think, the trade barriers to come down. Chanda: Now, what is interesting, though, is that the number of Indian students in the United States is now at a record high. And they are the same students that are learning things here and going back home to be then doing work for American companies who are outsourcing jobs. Friedman: But I want them to stay. See, I have a real simple motto in life, Nayan - Our Indians will beat India's Indians any day. Our Chinese will beat China's Chinese any day. Our Japanese will beat Japan's Japanese any day. Our Europeans - you know there are 400,000 Europeans in Silicon Valley - tech workers. Why are they there and not in Europe? Because of the culture of innovation there. So as long we keep that, ours will beat theirs any day. But I want to have a system where we can cream off the intellectual first round draft choices from around the world, bring them here, and I want to keep them here. Because I think they are a wonderful enrichment for our stew. Chanda: That requires changing the immigration policy, which is now very restrictive. Friedman: Exactly. Chanda: So, there are a lot of changes that are required by this new Globalization 3.0. Friedman: Yes, absolutely. Chanda: And people are still unaware as to what the requirements are. Page 16 of 25
Friedman: Absolutely. That's just the beginning of it, Nayan. The outsourcing thing is like the canary in the coal mine. And what is chirping is, “You're in a new world, you're in a new world.” That's what it is telling us. Chanda: Great. Tom, thanks so much. Friedman: My pleasure. Nayan Chanda is editor of YaleGlobal Online. A video of this interview can be found here. © Copyright 2004 Yale Center for the Study of Globalization Page 17 of 25
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