That’s the new catch-phrase. It embodies the concept that everyone, everywhere, will compete for everything. It’s what comes after globalization, and it’s a hypercompetitive free-for-all, where companies from around the globe vie with one another for talent, capital, customers, workers, and everything else..
But if customers, capital, and capabilities really are free to seek their own good in a world of vanishing boundaries, where are the new limits? And who wins and who loses?
Unquestionably, consumers win. More and better stuff at cheaper prices improves everyone’s buying power. It’s also easier to get increasingly specialized items. But companies that can’t or won’t adapt will get left in the dust.
The new rules? It may seem like this is a Hobbesian war of all against all, but in reality, it will be an increasingly interconnected world where saving a butterfly may prevent a major catastrophe somewhere else. Character will count more than ever.
Douglas R. Tengdin, CFA
Chief Investment Officer
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