The Flat World May Have A Bump

We've all heard that the new Global World of Business has become a Flat World where all is even and everyone has the chance to do the same. The bottom line is customer service and Global Marketing.
That sounds easy enough but why the Recession that we are entering?
Well, if you didn't hear it before, the possible Global Recession is due to bad deals in credit. There was a stampede, almost worldwide to give credit away, no matter what their chance of paying it back. It was a lot similar to the Real Estate horror that Japan went through in the Nineties, when their real estate market bubble burst. Now, it was the U.S. real estate market that burst. People were buying real estate, putting very little down buying property then quickly turning it around and selling it and making a profit while the paint was still wet.
Eventually everyone that could afford a mortgage got one, then the interest started to go up. All those people with the inflated mortgages soon discovered that they couldn't turn the real estate product over fast enough and they had to pay higher mortgage payments.
It caught up and people had to lower the price or walk away from the properties.
Now we have the Global Market going through the same recession as the United States Marketplace.
People going into Global Market have always thought, that all you needed to do was just put the product out there and the customer would run to it.
Why?
Because of the Global Market. Isn't that how its supposed to work. You make the product, put it out there, the consumer buys it and everybody is happy.
One rule that Global Manufacturers and Distributors must remember, is this, 'Be Global, Think Local.'
Yes, you might be getting your product into India and China, but is it moving? Remember there is a difference between Southern India and Northern India as well as Coastal China and inland China.
Its India, and it's China, how can there be a difference?
Okay, you didn't do your homework and because of it, you're going to pay big.
India is separated North and South by money and culture. Understand it and make it work for you.
China is also separated culturally and economically.
Coastal China is where many of the new factories have taken root. There are more jobs available near the Coastal areas as well as higher income compared to those still living further inland who are forced into an agricultural economy.
Global manufacturing companies must do their work and investigate their markets, population, economy and culture.
The Global Market is there and waiting for the Companies that realize that there World is not one fits all. There is a need for some change but its only a matter of education and acceptance before it becomes completely accepted.