Paper Summary:

This paper explains that if a country has the human capital and technology, it will have a competitive advantage and will be able successfully to expand globally. The paper points out that business success is no longer based on manufacturing but rather on human capital, determined by the training and education people. The author analyzes the effect of globalization on the economic situation of four countries: Japan and Germany were both impacted in a positive way but Saudi Arabia and Indonesia were both impacted in a negative way.

From the Paper:

"The first country that will be considered is Japan. Japan is a country whose situation has improved because of globalization. Japan has successfully marketed their products to the world, and are considered the global leader in the automobile market. Once source notes that Japanese vehicles have been so successful in Europe and America that they have almost eliminated the motorcycle industry. Other Japanese products that have achieved widespread international success include cameras, watches, televisions and other entertainment products. It is important to note that while many of these products are manufactured in Japan, it is not the manufacturing itself that adds value. Instead, Japan has been successful in developing systems and technology to manufacture efficiently and cost-effectively. As one source notes, "Japan's industrial production almost tripled between 1965 and 1985, while consumption of energy and raw materials hardly increased." In short, Japan's success is based on technology and human skill, not on the labor process itself. This gives Japan a significant competitive advantage and has allowed them to operate effectively in the global market."

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