There is a concept of domestic markets that can be opportunities for local businesses of modest players in international arena. With product innovation that may exploit indigenous dynamics and culture to own benefit usually elusive to multinationals can help domestic businesses to outcompete the multinations. Similarly exploiting regional markets of similar taste and culture for example in case of South Asia or East Asia may help outperform large players. However knowledge management, Skill development and technology remain to be pre requisites though may be translated differently locally with local definitions and historic wisdom.

I take your well-made point and agree that if international competition becomes to onerous one can turn to local opportunities. However, if that was what was desired to begin with, then presumably the issue would not exist.

This raises an interesting question of whether an effective economy can be contained within a local or regional area given the the spread of connectivity leading to a wider understanding of the world and new ambitions on the part of those developing this understanding.

This is taking us on a different path than what I had imagined, but that's okay. I sometimes think we focus too much on the developed world.

Jim