Staying ahead of the competition

摘要

The global market has become hyper competitive. The relative ease for firms to work across national boundaries, and the reduction of barriers to international trade, has created an environment of intense competition. This is good news for the consumer, as heightened competition typically results in lower costs and improved products or services. The current global marketplace should therefore be benefiting the consumer. In some industries, such as the service sector, a period of strong growth since the recovery of the 2008 crash has led to a few players in the market place holding nearly all of the power. Disruptive technologies are therefore key in order to break stagnant marketplaces and allow new firms to recalibrate the global service order. In a world where the USA and China are in the midst of a trade war, there are opportunities for the rest of the world to take advantage of and potentially profit from the harm caused to the two largest economies.