The Straits Times Interactive: Webspecial

The New Economy is different from the Old Economy in three ways.
First, knowledge has become the key source of wealth, rather than natural resources and manual labour.

In the global economy, old ways of doing work will become obsolete, and employers will hire people if they can provide an added advantage that no machine can provide.
Second, globalization brings a free flow of investments and trade across international boundaries as barriers come down.
Third, technology allows instantaneous communications and transactions to be made, speeding up business and shrinking the world.