- Audible Audio Edition
- Listening Length: 12 hours and 21 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Blackstone Audio, Inc.
- Audible.com Release Date: July 12, 2012
- Whispersync for Voice: Ready
- Language: English
- ASIN: B008KGCDC4
- Amazon Best Sellers Rank:
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Breakout Nations: In Pursuit of the Next Economic Miracles Audible – Unabridged
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Top Customer Reviews
His first major conclusion is that China's growth will slow sharply. Total debt as a share of GDP is rising, its cheap labor advantage is rapidly disappearing, its consumers are already strongly participating in its new economy - spending has increased nearly 9%/year for 30 years, and some estimate China already has a 25% share of the world's luxury market, its 'one-child' policy is now bringing an aging population (average age 37 in 2020, vs. 29 in India and 49 in Europe), its highway network is already second only to the U.S., slightly more than half its population is now city-dwelling (691 million), developers have built 'ghost cities' and malls, and its economy is already quite large - the world's second largest.
Sharma is even more negative on India.Read more ›
These small mistakes apart there are a couple of underlying themes that I felt are important for anyone considering buying the text. Though the book claims to be looking at the long term returns from different economies and the author's predictions about the same he presents a very narrow view of looking at policies and tools.
Let us look at something of relevance to the American audience. The book claims that in the aftermath of the Great Depression the US followed Hayek's paradigm to let the markets clear out ill resources and return to health and the result was that the US economy doubled in size in the next 20 odd years. While it is true that the government or the Fed intervened very little in the early part of the recession in 1929 the recession did not end till 1933 and by then a few things had happened:
1. The Fed intervened and brought more liquidity into the system.
2. The dollar was devalued (by almost 75%) essentially creating inflationary expectations in a deflationary economy.
3. The New Deal was brought in.Read more ›
I am, sadly, not personally seeking an investment home for a few billions of spare cash, but I read the book out of a growing curiosity about what the global economy may come to look like in the relatively near future: about the real likelihood of a decline of the West and the apparently inexorable rise of China and other emerging economies. This book gave me everything I wanted, and more.
Sharma's key point is that it is no longer useful or sensible to talk about 'emerging markets' as one investment opportunity: these markets make up nearly 40% of the global economy and about 15% of the value of the world's stock markets and there are highly significant differences between individual economies. Here's the basic plot: a 'breakout nation' (the ones investors might be especially interested in) is one that can exceed, or at least match, the growth rate for its income class.Read more ›
Most Recent Customer Reviews
Ruchir Sharma has done a great job chronicling the strengths and weaknesses of developing nations. His job as the head of emerging markets group at Morgan Stanley provide him a... Read morePublished 3 months ago by Rohit P
So a little about me, I'm an undergraduate economics major and global studies minor at Ucla. This is my first Amazon review, so says a lot about how much I like the book. Read morePublished 3 months ago by annie
Dust jacket is really dirty. I wanted the book soo much. I don't mind it.Published 4 months ago by Ken Mungai
This book became dated very quickly. It's now of historical interest. I liked the book - I just wished that I had read it when it was originally published.Published 4 months ago by Richard Newton
A well written comprehensive overview of global economies and their modes of operation.Published 8 months ago by John Tarascio
Excellent reviews of countries. The country level reports need the instruments of change like the key laws, or policy declaration docs etc.Published 8 months ago by Amazon Customer
Sharma wrote this book few years earlier than the economic crisis that Brazil is facing today, kind of an anticipation, he foresaw Brazil was lacking basic economic principles to... Read morePublished 19 months ago by czilveti
An interesting insight from one of the biggest names in EM.Published 20 months ago by William McMicking