We see lots of stories about globalization's impact on the economy. One that recently caught our eye has to do with its strong -- and ultimately lasting -- impact on the tech economy.

A Fortune senior editor makes the case that countries as disparate as Libya and Spain -- hardly traditional bastions of tech -- are developing a strong taste for technology and its transformative powers. If IBM's sales are any indication, this is true. Big Blue's sales to emerging countries are increasing at a rate of 19 percent a year.

But emerging countries aren't just buying technology. They're creating it too, thanks to software-as-a-service and open source software that allow them to build and maintain infrastructure at a low cost. And they can cheaply market their new products through search engines like Google and Yahoo.

A Merrill Lynch economist attributes the strong performance of tech stocks, at least in part, to the "global exposure" of the sector.

Whether you are buying or selling technology, soon you may be just as likely to do so in Sri Lanka as in Silicon Valley.