International expansion tactics must be replaced by true global strategies over the next 30 years to tap into growth in output stemming from global markets, according to this team from McKinsey & Co. They make a strong argument that the entire corporate thought process and organization structure must change in order to maximize the benefits. Many factors have altered the rules of the race--deregulation in developed countries has created new avenues of competition, technology has lowered costs, local companies now tap into world-class powers, and the ability to cater to "customer segments of one" has expanded customer choice and bargaining power--leading national governments to ease barriers. Thus, a geographically bounded market, with "protective regulations, loyal customers, known competition, and known technology gives way to an increasingly unbounded world filled with unfamiliarity, complexity, and uncertainty." The problem for global companies is no longer one of gaining access but managing risk. For the informed decision-maker.--Susan DiMattia, "Library Hotline" and "Corporate Library Update" Copyright 1999 Cahners Business Information.