How to prepare for competition amid globalization

Since World War II, globalization came in two stages. From 1945 to roughly 1975, the United States, Western Europe, and Japan achieved steady economic growth, with the benefits of that growth spread widely throughout the population. In France, this period is called"30 glorious years" and in Germany it is known as the "economic miracle".

The second stage of globalization started in the late 1970s and has continued until today with a process of reform and opening-up not only in China but in countries of the former Soviet Union and in India.

This has been great for the world. China alone has lifted more than 850 million people out of dire poverty. But it has also increased competition faced by workers and companies.