Breakout Nations: In Pursuit of the Next Economic Miracles

Front Cover
Allen Lane, 2012 - Developing countries - 292 pages
3 Reviews

The argument of Breakout Nationsis 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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User Review  - Miro - LibraryThing

Its difficult to exaggerate the quality of this book. Ruchir Sharma searches for the real keys to national development which are often not so obvious or easy to identify. His whole analysis deals with ... Read full review

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User Review  - HadriantheBlind - LibraryThing

It is hard to escape popular economic discussions without hearing the name BRIC and developing nations. The very name - BRIC, like brick, suggests that these four nations are monolithic and identical ... Read full review

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About the author (2012)

Ruchir Sharma, author of Breakout Nations,is head of emerging markets at Morgan Stanley, a position which lends him a truly global perspective and first-hand experience of the world he is describing, as well as affording him unique access to top CEOs, key finance ministers and heads of state. He is an occasional television commentator, on CNBC and in India, and a regular columnist for Newsweek, the Wall Street Journaland the Economic Times of India.

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