The Road to Global ProsperityExpanding the powerful argument he makes with Thomas Friedman in their bestselling That Used to Be Us, Michael Mandelbaum describes the forces driving the next stage of globalization, one of expanding wealth and vast opportunity. IN That Used to Be Us, the bestseller Michael Mandelbaum wrote with Thomas L. Friedman, the authors analyzed the challenges America faces, including globalization, and described a path to recovering America’s greatness. In The Road to Global Prosperity, Mandelbaum, one of America’s leading authorities on international affairs, looks at recent developments that call into question our optimism about the world’s economic future: the financial meltdown of 2008, Europe’s troubled currency, the reduced growth of China, India, and other emerging nations. He shows that while the global economy will face major challenges in the years ahead, there are powerful reasons to believe that globalization will continue to make the world richer. Mandelbaum examines the politics of the global economy and explains why globalization is both irreversible and a positive force for the United States and the world. As technology and free markets expand and national leaders realize that their political power depends on delivering prosperity, countries are likely to cooperate more and fight less. As more nations connect, their economies will grow. As immigration increases, as more money crosses borders, and as more countries emerge from poverty, individuals and societies around the world will benefit. The Road to Global Prosperity illuminates the crucial political issues that will determine the economic future. Mandelbaum makes a persuasive case for optimism and offers a concrete, practical guide to the economic challenges and opportunities that lie ahead. |
Contents
THE ROOF | 1 |
THE gaTES | 39 |
The Smell ofMoney | 74 |
A Drinking Binge a Heart Attack and the Flu | 90 |
THE BRICS | 125 |
The Dysfunctions ofDemocracy | 145 |
FaULT LINES | 169 |
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American Asia Asian Aslund assets banks Brazil BRICs Britain capital Chapter China Chinese Communist conflict coun country’s crises cross-border flow currency debt decade deficits democracy Doha Round dollar domestic economic activity economic growth Economist economy’s effect energy euro Europe Europe’s European eurozone exports factories financial crisis financial system firms foreign investment free markets funds future Germany global economy housing bubble Ibid immigration impact important increase India industrial inflation international economic investors Korea less loans major Martin Wolf ment Michael Mandelbaum military million monetary nomic offshoring output Panagariya percent Peterson Institute policies political backlash population potential protection Putin reduce reforms regime renminbi reserves rise Russia sector social South Korea sovereign Sovereign Wealth Funds spending tariffs tion trade trilateral countries twentieth century twenty-first century Union United University Press wages Wall StreetJournal workers world’s York