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Breakout Nations: In Pursuit of the Next Economic Miracles: In Search of the Next Economic Miracle - Softcover
Synopsis
The argument of BREAKOUT NATIONS is that the astonishingly rapid growth over the last decade of the world's celebrated emerging markets is coming to an end. The era of easy money and easy growth is over. China, in particular, will soon slow, but its place will not necessarily be taken by Brazil, Russia or India, all of which Ruchir Sharma shows have weaknesses and difficulties often overlooked in the inflated expectations and emerging markets mania of the past decade. To identify the economic stars of the future, he says, we should abandon the habit of simply extrapolating from general global trends and look at emerging markets individually. The new 'breakout nations' will probably spring from the margins - even from the shadows. Sharma identifies which they are most likely to be, and why.
Sharma, head of one of the world's leading emerging market funds, has spent two decades travelling the globe to find out what is happening on the ground in developing countries. With this first-hand knowledge, he takes his readers on a tour of two dozen of the world's most interesting economies, introducing the critical players and describing and analysing the forces - many unique to each nation - which will make the successes and flops of the future. The book is full of surprises: why the current mania for oil echoes the dotcom mania of 2000; how an industrial revolution in Asia is redefining what manufacturing can do for a modern economy; how the coming shakeout in the big emerging markets could shift the spotlight back to the west, especially American technology and German manufacturing; why the next two trillion-dollar economies will be big Moslem democracies . It contains warnings about command economies (some work, but many fail too), shows that the EU is producing model economies as well as basket cases, and suggests what we can learn from the $24 price of cocktails in Rio. Even Vladimir Putin's dog makes an appearance.
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Review
The head of Morgan Stanley 's emerging markets division conducts a brisk worldwide tour in search of new markets ready for takeoff. No first-book jitters for Sharma, longtime columnist for the likes of Newsweek and the Wall Street Journal. His smooth, almost chummy style suits him ideally for guiding civilians through the sometimes-arcane thicket of the dismal science, looking for those emerging markets likely to disappoint or exceed expectations in the coming years... Confining his predictions to the near future, Sharma refreshingly comes across as that rare thing Harry Truman once sought: a 'one-handed economist' willing to stake his reputation without resort to on the other hand equivocation. For investors looking to place their bets and for general readers looking to understand the global economic landscape in the wake of the Great Recession.
Accessible to newbies and revelatory for veterans, Sharma's observations upend conventional wisdom regarding what it takes to succeed in the relentlessly competitive global marketplace.
[A] country-by-country tour de force of what makes emerging markets tick. He is an excellent writer with a keen eye for detail and a lyrical prose sense... As with Michael Lewis Boomerang on the European crisis, for sheer readability and insight on the various parts of the ongoing emerging drama I daresay you won t find a better choice. --Jon Anderson
Mr. Sharma 's intent is to help you find the best places around the world to invest, emphasizing that it will take some work on your part.
This week 's Book of the Week is, Breakout Nations by Ruchir Sharma, one of the world 's leading emerging market investors. This is the best book on global economic trends I ve read in a while. --Fareed Zakaria, CNN GPS
... it 's refreshing to read Breakout Nations, Ruchir Sharma 's book on the Bric countries Brazil, Russia, India, China and the rest of the developing world... [H]is book offers a careful view that has little truck with forecasts of the relentless Bric-led rise of the emerging world.
The head of Morgan Stanley s emerging markets division conducts a brisk worldwide tour in search of new markets ready for takeoff. No first-book jitters for Sharma, longtime columnist for the likes of Newsweek and the Wall Street Journal. His smooth, almost chummy style suits him ideally for guiding civilians through the sometimes-arcane thicket of the dismal science, looking for those emerging markets likely to disappoint or exceed expectations in the coming years... Confining his predictions to the near future, Sharma refreshingly comes across as that rare thing Harry Truman once sought: a 'one-handed economist' willing to stake his reputation without resort to on the other hand equivocation. For investors looking to place their bets and for general readers looking to understand the global economic landscape in the wake of the Great Recession.
This week s Book of the Week is, Breakout Nations by Ruchir Sharma, one of the world s leading emerging market investors. This is the best book on global economic trends I ve read in a while. --Fareed Zakaria, CNN GPS
Breakout Nations works best as a compilation of highly illuminating country vignettes--similar, say, to Michael Lewis' Boomerang... As with Mr. Lewis' work on the European crisis, for sheer readability and insight on the various parts of the ongoing developing world drama, I dare say you won't find a better choice. --Jonathan Anderson
Mr. Sharma's intent is to help you find the best places around the world to invest, emphasizing that it will take some work on your part.
About the Author
Ruchir Sharma is Head of Emerging Markets and Chief Global Strategist at Morgan Stanley Investment Management. His acclaimed book, Breakout Nations: In Pursuit of the Next Economic Miracles (2012), was an international bestseller. Sharma began his career as a writer and still contributes regularly to the Wall Street Journal, Financial Times, Foreign Affairs and other publications. One of the world's largest investors, he was named one of Foreign Affairs' Top Global Thinkers in 2012 and one of Bloomberg Market's 50 most influential thinkers in 2015.
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- PublisherAllen Lane
- Publication date2012
- ISBN 10 1846146747
- ISBN 13 9781846146749
- BindingPaperback
- Number of pages288
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