Globalization has been a topic recently, with some calling it a gale of creative destruction. On the one hand, it adds to the market for many companies and permits better sharing of resources. On the other hand, it threatens jobs and pay for US employees and some companies may not survive the competition. How does one respond? At the business level, it is the face-to-face economy that cannot be reduced to computer rules and will remain strong in the US. Relationships built on trust, befriending clients and understanding them rather that commoditizing what they do will succeed. To go further, one source suggests that businesses have to be more socially responsible and ethical because (1) customers will pay more, (2) employees will support this approach, and (3) shareholders will be more loyal.

As for your personal response, with the US 25% of the world economy, your investments portfolio should be diversified by investing abroad.