How do corporations remain competitive in the new global economy? As the new chapter of globalization presents unprecedented shifts in the global distribution of power, resources, and population, corporations are finding it increasingly difficult to compete by conventional sources. As communication barriers fall and energy prices soar to new highs, companies must devise new ways to maintain their lead. Remaining competitive in the new global landscape requires innovation, but it also demands an understanding of the new global playing field. In a presentation to a leading corporation, Lael Brainard outlined the consequences of the new wave of globalization.