Third Global Power Shift in Modern Times
After the rising of the Western World which started in the 15th century and the rise of the US, starting in the late 19th century, we are witnessing the third global power shift in modern times – “the rise of the rest” (Fareed Zakaria, 2008).
Knowledge and the quality and productivity of knowledge have become central for modern powers. The knowledge society spreads out and is the basis for global development. “There will be no more underdeveloped countries, just “under-managed” ones, said Peter Drucker already long time ago.
The internet with all forms of modern communication networks has changed the basic structure of our economy. Power also shifted from sellers’ markets to buyers’ markets, from sellers and producers to buyers and consumers.
Since 2007 we experience a systemic economic crisis in the West, while at the same time Asia and the South are economically flourishing.
These developments are linked with
– increasing global interlinkages, interdependencies and networked systems,
– a sharp reduction of all sorts of linear developments, and
– increasing uncertainty and unsettledness.
The world has entered into the global era of complexity (Fredmund Malik), a networked global society has emerged.