Short essay on the Globalization of Markets

Twenty years ago, Theodore Levitt published his summation of the Global Market Place, entitled "the Globalization of Markets", in the Harvard Business Review. Within his review he described the emergence of a truly global market for informed consumer products. As a visionary, he predicted that advances in communication and transportation would pave the way for informed consumers to participate in a convergence of tastes. These technological advances has simplified and standardized products, production techniques, and lowered prices of global products far below local competition. "No one is exempt and nothing can stop the process," Levitt explains, "Everywhere, everything gets more and more like everything else as the world's preference structure is relentlessly homogenized." …