Technology Producing Massive Efficiencies News Today : Breaking News, Live Updates & Top Stories | Vimarsana

It all came together. i mean, you ran ibm. do you -- why did that happen? why did it take a while for information technology to suddenly kind of produce this seismic change? >> the reason for that, i believe, is that information technology started out in the back office. it took decades before the people who ran the line businesses, the people that ran manufacturing, the people that ran sales, the people that ran distribution to realize that this technology had a powerful impact in improving those processes. >> so technology, globalization, both having this effect of making companies hypereffi...

And today as you well know, as your question indicated, you can have things made in india and china that are of the quality you could find in the u.s. at a significant lower cost. and that is, of course, one of the problems with the american economy. >> but as much as we can see the effects of trade, we all buy cheap chinese goods, probably the largest force at work has been technology, not trade. american companies embraced new technologies that made them more efficient every year. and in the 1990s, information technology really began transforming american companies from top to bottom, making...

Of industries require a level of skill, educational level that we're not producing in this country. we're not producing workers who have the skills to move up the next step. so we got a competition for high-paying, high-return jobs, and we're not, in america, investing in the skills of our workers to allow us to compete in those industries today. >> so globalization and technology acted like a one-two punch, strengthening american companies but putting pressure on the american worker. the knockout blow perhaps came with the global financial crisis and ensuing recession, which put companies in ...

>> coke's potential market doubled, tripled, quadrupled. you think of it, what was the scale of the expansion? >> i think when you take the consumers in china and india where in the late '80s we were not serving, if you take the slavic world where we were not serving, if you take many parts of africa where there was restrictions in operations and including other places like southeast asia, vietnam and laos and cambodia -- if you take the whole number of -- i think probably in terms of opportunities and consumers, our business probably increased by twofold overnight when really the world starte...