Pankaj Ghemawat: Actually, the world isn't flat

The video challenges the perception that globalization has erased national borders, presenting data to show that cross-border activities are much less prevalent than commonly believed. The speaker introduces the term 'globaloney' to describe the overestimation of globalization levels and explores reasons for this misconception, such as data scarcity and peer pressure. The video emphasizes the importance of accurate data to understand globalization's true extent and its implications for policy and public perception.

What is a common belief about globalization shared by both pro- and anti-globalizers?

• Globalization has no impact on daily life.

• Cross-border integration is nearly complete.

• Technology has no role in globalization.

• National borders are more important than ever.

What percentage of voice-calling minutes are cross-border phone calls?

• 50%

• 2%

• 20%

• 10%

What is the estimated percentage of the world's population that are first-generation immigrants?

• 15%

• 3%

• 25%

• 10%

What term does the speaker use to describe the overestimation of globalization levels?

• Global illusion

• Globaloney

• Globalization myth

• Global overreach

What is a significant error found in public perception regarding globalization?

• Underestimation of local trade

• Overestimation of cross-border activities

• Underestimation of technological impact

• Accurate estimation of global integration

What is one reason for the misconceptions about globalization mentioned by the speaker?

• Lack of interest in globalization

• Peer pressure

• Abundance of accurate data

• Overestimation of local issues

How does the speaker describe the impact of technology on cultural and political barriers?

• Technology only affects economic barriers.

• Technology easily overcomes all barriers.

• Technology has no impact on barriers.

• Technology is exaggerated in its impact.

What percentage of Facebook friends are typically located in different countries?

• 30-40%

• 80-90%

• 10-15%

• 50-60%

Why is it important to recognize the limited extent of globalization?

• To stop globalization entirely

• To identify opportunities for more integration

• To prevent further integration

• To maintain current levels of integration

What is the speaker's suggestion regarding foreign aid ratios?

• Increase the ratio to 50,000 to one

• Maintain the current ratio

• Eliminate foreign aid entirely

• Reduce the ratio to 15,000 to one