The Great Global Economic Boom
Written by Jay Turo on Tuesday, July 24, 2007
A feature story in this week's Fortune Magazine presents the case that we are right now living in the greatest global economic boom ever. A few salient statistics from the article drives the point home:
What does this mean for American managers and entrepreneurs? In our view, quite simply, economic and business-building opportunity for American business has never been greater than it is right now. Far too often the media and politicians focus on the threat of overseas competition to American business and workers as opposed to the enormous new marketplaces for American goods and services that are expanding at far faster rates overseas than in our mature domestic market. As overlooked are the opportunities for domestic businesses to raise capital overseas. The combination of strong world GDP growth with extraordinary growth in cross-border financial transactions lead to the hypothesis that there is now probably more money overseas than domestically looking for investment opportunities in the U.S. And our experience at Growthink is that overseas investors are also seeing far less deals than their U.S. counterparts, thus creating more favorable competitive conditions for U.S. businesses seeking growth capital. In short, no matter what your business, from both a market expansion and an investment perspective, thinking and planning globally has a profit potential greater than at anytime in human history. Enjoy the ride. The full Fortune article can be seen here.
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