This book took me a while to read, probably because there is a lot to take in. It discusses the emerging nations of the world, the countries such as China and why they have been growing, and what the next decade could bring. The thing I got most out of the book was how inter-connected politics and economics is, something I’d never really thought about before. I took some notes as I went along:
The book starts with the author at a lavish party in India where he strikes up a conversation with the “twenty-something son” who works in the family export business who remarks “where else will the money go?”, referring to emerging markets. Thus a book is born.
Chapter 1 provides an intro with the definition of a emerging nation detailed, and the author’s approach to looking at them (“monitor everything from per capita income levels to the top-ten billionaire lists, the speeches of radical politicians, the prices of black-market money changers, the travel habits of local businessmen, the profit margins of big monopolies, and the size of second cities). This approach plays out in the rest of the book.
Chapter 2 focuses on the success story that is China, although “to a degree most observers have underestimated many critical factors now point to a slowdown”. Chapter 3 looks at India which has “many stars aligned in its favour, from it’s demographic profile to its entrepreneurial energy and an annual per capita income that is only one-fourth of China’s.” Chapter 4 covers Brazil where prices are high, which has resulted, at the time of this review, with riots (June 2013).
Chapter 5 is about Mexico where oligopolies rule. Russia is next where “the spectacularly ugly homegrown Ladas have made way for Mercedes and BMWs” although “the bottom line is that Russia was an amazing comeback story until 2008.” A chapter looking at Poland and the Czech Republic follows, before Turkey, then Indonesia are profiled. Chapter 10 looks at “South Korea’s rare ability to stay at the cutting edge of fast-changing industries".
South Africa with “its fundamental problems” is next, followed by a chapter on frontier markets where “investors who get in early and get a grip on what’s going on can double or triple investments – but it’s just as easy to lose everything.” Then there is a chapter devoted to commodities which the author likens the current commodity boom to the dotcom boom, even terming it commodity.com, before a final closing chapter about emerging countries in the next decade and how the perceived East-West shift is not something that the West should worry about too much.
Overall then a lot to take in, with the anecdotes such as the Indian party at the beginning, some nightclubbing on the Bosporus, private helicopters being used in Brazil to get to business meetings on time because of clogged up roads helping to bring the points to life. The book would be best for people who have an interest in the topic or who want to get into it. Certainly a lot of food for thought although not an escapist read.
I got this book through Amazon Vine UK. It is listed HERE.
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