The document discusses the evolution of globalization and its impact on supply chains. It argues that globalization has progressed from a core-periphery model based on comparative advantages to one characterized by integrated and networked supply chains. Going forward, countries and companies will need to focus on developing competencies in innovation and value creation, rather than costs, to differentiate themselves and remain competitive in an increasingly global business environment. Ireland in particular is encouraged to develop skills in process integration and innovation like Singapore has, in order to help Irish companies and the economy remain internationally engaged.