Editor’s Letter : Dear Reader

PEACE, LOVE AND UNDERSTANDING?

In our cover story this month we look at the changing nature of globalization and the impact it is having on the balance of political and economic power across the world. With many emerging markets building huge foreign currency reserves and others beginning to demonstrate the influence they can exert simply by restricting their exportsparticularly if those exports include energythere is no doubt that a fundamental power shift is under way.

One aspect of globalization that is often overlooked, though, is its role in the spreading of knowledge. From central bankers sharing tips on how to run their economies to business leaders mining the Internet to find out how best to manage their supply chain, almost everyone involved in global business and finance has more access to better information than ever before. The spread of that information is helping emerging markets dodge the pitfalls theyve stumbled into in the past. Its also leveling the playing field between the developed and developing worlds.

Inevitably, there will be many who perceive globalization to be a bad thing, but the benefits that arise from it in terms of poverty reduction, increased economic efficiency and, in many cases, political and economic stability are inarguable.

Spreading peace and love around the world will take a bit more time, but understanding? Were well on the way.

Until next month,

Dan Keeler

dan@gfmag.com