At dinner tonight I had an interesting conversation about the difference between Americans and Europeans. One theory put forth is that Americans focus on transaction volume and efficiency while Europeans focus on the strength of relationships. With enough transactions you gain economies. With trust underpinning transactions, you gain similar economies. Its hard to say which system is "better."
In other words, in the US its easier to transact with strangers and more deals get done. In Europe people invest in people, usually when there is a strong social context. Anglo cultures have a dearth of social capital, which makes the UK an anomaly. There isn't the same quarterly pressure to transact, but there is a level of transaction efficiency which combined with language and cultural affinity makes it an easy entry point for American countries.
This dearth of social capital is part of the reason that social networking has exploded in the US and UK. But something else is at play. Part of the transaction efficiency in the US is that social networks are more transparent to begin with. You can get a sense of the community you want to deal with through a modicum of research. Unlike in other cultures where money is a bit older and networks are more familiar if you are part of the family. Its not just that gaining trust takes more time, but learning who to trust is structurally more complex.
