The world is more connected than ever, but the nature of its connections has changed in a fundamental way.” Manyika, et al, McKinsey Global Institute
Globalization has made it easier for companies to operate. It has helped small start-ups to operate worldwide, a farmer from Georgia to sell the herbs in the United Kingdom, a student to attend online lectures in different countries, etc.
According to McKinsey Global Institute report (2016), globalization is entering new levels by the help of the global flow. The flow of information through the world is erasing the borders when it comes to modern business. Making business in the digital era is so much easier.
According to the article, no cross-border transaction exists without a digital component (Digital Globalization: The New Era of Global Flows, 2016). E-commerce is the type of business that globalization has introduced to the world. Globalization has also helped any type of company to work efficiently. The fact, according to the report, is that not all countries can fully use the advantage of the global flow.
Usually, the more developed the country is, more connected it is. The future of globalization and the borderless economy and business is for the developing and undeveloped countries to be connected to the world through global flow. According to the discussed report, there are large gaps between the developed leading countries and other semi- or underdeveloped countries. The authors state, that the major share of the information flow is concentrated in the top listed developed countries. If there was not such “privileges” and the whole world would be as connected as the top listed countries, according to the report, the GDP of the world would be 13% higher. For example, in my country, Georgia, there are some villages in mountain, where there is no internet available, not even mobile internet coverage. As the globalization process is so important, most developed countries should invest more in developing countries. The first stage could be the major internetisation.