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Thomas Friedman has famously written about the impact of globalization in his bestselling book The World Is Flat. Harvard Business School Professor Pankaj Ghemawat tells us why he believes globalization isn’t nearly as powerful as Mr. Friedman, and many others, believe. In his article "Why the World Isn't Flat" (in the March/April issue of Foreign Policy), Professor Ghemawat explains that more than 90% of all phone calls, web traffic, and investment is local.