Globalization: “This Week in Global History” with a few “Milestone” Developments

By Pooky, Thai Intel’s economics journalist

Goldman Sach is planning to sell a its stake in Facebook to global non-USA investors. The stake may be going to wealthy family under Goldman’s special investment. The firm plans to raise about US$1 billion and the purchase is a minimum of US$2 million. Facebook is valued at US$50 billion.

Analysis: Another proof that there is something critically wrong with the Capitalist system, when opportunities and the playing field is tilted in-favor of the already super-rich.

  • Fisrt Arab Economist Meet Failed

The first Arab Economist meeting achieved little, with Egypt Minister of Finance saying on balance, there is a lack of cooperation and slow decision meeting in organizing the Arab World’s economist into a tight body. Most Middle-East economies are fast trying to diversify out of oil-with predictions that their oil supply would last at most another 50 years.

Analysis: The Arab people are highly tribal and non-globalization in mentality. However, the coming to end of the oil age may be forcing some re-thinking.

The 4th International Conference of Information System and Economic Intelligence will be held in Morrocco on the 17th of February with the agenda focusing on SMEs and the Internet.

Analysis: SMEs traditionally, is a crucial “Converging Point” to an economic system-as the main contributor to entrepreneurship and innovation.

  • Internet Usage Races Ahead

Every 3rd person in the world is now connected, coming to about 2 billion people. The target of the industry is to match people with Internet with the number of people with electricity. About two third of the world population have electricity and thus there is about a third to go to match the number. Given the trend, the industry says it will take another 7-10 years.

Analysis: With the price of technology dropping, the hardware for the Internet is becoming greatly available.

  • First International Tidal Energy Award

Tidal Today, the leading publication of global tidal energy development, just gave its first International Tidal Energy award. The best technological innovation award went to VoithHydro and the most competitive use of energy went to Marine Current Turbine.

Analysis: The industry was just in its infancy a few years ago, but is now becoming global in focus. Growth opportunity is significant.

Ovum, the ICT unit, said the ICT trend to watch in 2011 is that more and more governments around the globe will turn to “Cloud Computing” to cut costs and increase efficiency. The USA is a big player in cloud computing, raking in significant savings while able to maintain security.

Analysis: Governments are getting bigger and the public are demanding more and better services. An important way to achieve that is through using technology. Smart governments are moving to cloud computing.

Gartner, the ICT research unit, said Business Intelligence is spreading down to the SMEs level and the market is under-going an evolution that is impacting how SMEs conduct business. Business Intelligence are software that uses technology to do advance analytical calculations of business data.

Analysis: Business Intelligence traditionally is used mainly by sophisticated big players. But with maturing of the technology and increased sophistication of SMEs, the technology is spreading down-stream.

Both Gartner and IDC, both ICT research house, says Social media will rule business in the coming years, with businesses stepping their social media efforts.

Analysis: Business traditionally have followed their customers, to where their customers went. People are heading to Social Media in a very big way, and thus smart businesses are following.

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