The new global economy of the 21st Century has transformed the economic, social, educational, and political landscape in a profound and indelible manner. Never before in human history has the pace of structural change been more pervasive, rapid, and global in its context. The new economy is composed of a trilogy of interactive forces that include globalization, trade liberalization, and the information technology and communications revolution. Globalization has melted national borders, free trade has enhanced economic integration, and the information and communications revolution has made geography and time irrelevant. Furthermore, the new economy is built on a culture of innovation. Indeed, the signature mark of the new global economy is new ideas, new technologies, and new initiatives.
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