Re-embrace Globalization

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In case you missed it, The Economist has a special edition out called The World in 2009. Pick up a copy. It's worth a read, especially the Time to Re-embrace Globalization commentary by Jeff Immelt, chairman and chief executive of General Electric.

He urges business and political leaders to embrace competition, not protectionism, as the way through economic turmoil and his last Point No. 6 is spot-on:

6. Each of us must contribute. Developed and developing countries, governments and industry, shareholders and employees -- we all share a responsibility to make meaningful contributions to protect and strengthen the international trading system.

Thomas Edison, GE's founder, used to say that people don't recognize opportunity because it "usually goes around wearing overalls looking like hard work." To succeed in our swarming global economy, leaders must not resist the challenge but relish the opportunity, especially in these harder economic times. True leaders must re-embrace globalization.