The War for Wealth: Why Globalization is Bleeding the West

The War for Wealth: Why Globalization is Bleeding the West of Its Prosperity A heavy book with lots of historical facts Chronicles the end of the American century along with the rise of China and India We sure have a lot of work to do in this country to restore us to our former status A LIBRARY JOURNALBEST BUSINESS BOOK OF THE YEARGlobalization The Flat World Outsourcing Free TradeEach of these phrases is a flashpoint in one of the most heated debates of our lifetime Is globalization a force for good, or is it a policy that is sure to destroy the economic foundation of the United States and Europe while exporting our wealth and prosperity overseas In The War for Wealth, leading intellectual and agenda setting journalist Gabor Steingart examines how globalization has affected the state of the world s economy and returns with a bleak outlook for the West our prosperity and wealth are disappearing faster than ever, and with it our political power and our long held democratic ideals But all is not lost we can still stem the flow of capital and jobs and once again restore the West to its respected position of global leader in economics and politicsIn this eye opening and dramatic account, Steingart lays out the three potential scenarios the world faces a shock scenario in which there is a global economic crash, an Asia over all scenario where the rising economies of Asia completely overtake the West, or the American renaissance scenario in which US politicians unite with each other and with Europe, forming a pragmatic third way to bring the West back from the brink of destructionCompelling, controversial, and thought provoking, The War for Wealth alerts readers to the crucial state of the Western economy and shows how leaders can return the West to its position of power in the global arena I love books, and I seem to find a new one to like every week And yet, I can honestly say, this is the best book I ve read in years Few books have the power to encapsulate the meteoric economic and political changes that face the United States and the world right now Gabor Steingart, a German journalist working in Washington, DC, for Der Spiegel, has managed to come at just the right time with just the right book, The War for Wealth What makes this book so pertinent First, it approache I love books, and I seem to find a new one to like every week And yet, I can honestly say, this is the best book I ve read in years Few books have the power to encapsulate the meteoric economic and political changes that face the United States and the world right now Gabor Steingart, a German journalist working in Washington, DC, for Der Spiegel, has managed to come at just the right time with just the right book, The War for Wealth What makes this book so pertinent First, it approaches the question of whether globalization truly benefits all Unlike who favor the open market who make the assumption that free trade helpa all, Steingart posits that globalization instead is leading to a redistribution of resources Not all countries benefit equally In this new world order, Americans are needed largely as consumers, not workers, who are financing their purchases on a mountain of debt The expansion of the labor market as a result of globalization, in fact, has led to a decline in the value of workers This has hurt Western nations the most In the US industrial base alone, there has been a 50 percent decline in jobs in a single generation Americans and Europeans are overpriced for the global market, not because of their wages although this is a factor but largely because of the cost of their social safety net.Who are the winners Those in India and China, obviously In China, those growth rates are even being understated by the Communist government so that the West does not even see the full extent of this unfettered development Moreover, China has chosen a different,insidious tactic in this economic war As Steingart notes, the Asians are attacking with economic weapons and avoiding ideological conflict They do not conduct debates with the West over equality and justice, nor do they level any accusations or issue threats The rising global powers are not interested in a battle of cultures They are ignoring issues of religion and ideology They are quiet adversaries who are placing their bets on economic efficiency The West, they reason, can be defeated with its own weapons Unlike many who see these problems, however, Steingart is not a protectionist, nor does he see globalization as something to be halted in its steps He is not a fear mongered As an economist and journalist, Steingart knows that this is a trend that is not likely to be reversed It can, however, be managed by savvy leadership and a willingness on the part of Western nations to work together Steingart basically lays out three options global chaos the shock scenario , the rise of Asia the Asia above all scenario, in which American dreams bite the dust , or remaking history the American Renaissance scenario.How America and the West manage globalization, international trade, and the development of rules and regulations to even the playing field are critical to the continuance of the good life If I could have one wish, it would be that both presidential candidates and their camps would read Steingart s book This critical overview of the world and economic development today is something that every American should be thinking about as they approach the future There may be possibly be some good ideas here and at least the is a genuine contradictory viewpoint being expressed but the style of writing makes this book so frustrating as to be unreadable The text is translated from German by the author himself, the Washington correspondent for der spiegel, but it is not just language which is the problem The book instead intends to be a magnum opus on the economic history of the world, similar from an economic viewpoint to Kennedy s rise and fall of t There may be possibly be some good ideas here and at least the is a genuine contradictory viewpoint being expressed but the style of writing makes this book so frustrating as to be unreadable The text is translated from German by the author himself, the Washington correspondent for der spiegel, but it is not just language which is the problem The book instead intends to be a magnum opus on the economic history of the world, similar from an economic viewpoint to Kennedy s rise and fall of the great powers However the author has none of the historians flair and the book is filled with factual flaws and bold statements of fact which are instead huge suppositions, the tendency to float between continents and time periods within the same paragraph of explanation is another concern Wasn t able to read this to the end but the authors supposition that china and Asia as a whole is replacing the west as the dominant power, that free trade which allows these countries to take advantage of lower labour and environmental standards is hurting the west, and that the west needs to wake up and respond are all issues which a better written book could have explored There is a touch of Thurowesque, the Asians are coming xenophobia, but something here amongst a rather messy book Not all the streets are paved with gold in the new world economy Steingart outlines quite powerfully how China is competing in today s economy With over 175 million unemployed urban dwellers keeping wages in China down for the foreseeable future coupled to the lack of pollution controls and social services we in the West take for granted a level playing field for fair competition is not possible.What will the future bring International lower wages have already meant the demise of labor union Not all the streets are paved with gold in the new world economy Steingart outlines quite powerfully how China is competing in today s economy With over 175 million unemployed urban dwellers keeping wages in China down for the foreseeable future coupled to the lack of pollution controls and social services we in the West take for granted a level playing field for fair competition is not possible.What will the future bring International lower wages have already meant the demise of labor unions in North America Third world countries are taking not just blue collar but white collar jobs now as well The accounting firm or hospital you use today might already be outsourcing your tax returns and the interpretation of your x rays overseas.China s Universities produce farDoctorate degrees which lead topatents, innovation and future economic growth Meanwhile our kids spend their free time listening to iPods and wasting their study time playing games on gaming consoles manufactured overseas.Will China surpass the United States as the world s number one superpower Reading The War for Wealth makes you think James Gingerichhttp www.linkedin.com in jamesg2006http softwaresalespersoneducation.b Gabor Steingart gives a clear, concise explanation why we should be upset over globalization rather than such other things as Iran any other issue in my opinion, gay marriage that have little or no effect on the economy Gabor Steingart gives a clear, concise explanation why we should be upset over globalization rather than such other things as Iran any other issue in my opinion, gay marriage that have little or no effect on the economy Really fresh and interesting take on globalization Essential reading for Barack Gabor makes a compelling argument why the West needs to change how they do business with the East. China, Indiawho will be the supower of the 21st centruy Not the U.S We ll still be big, but 3rd or 4th out A bit scary.


About the Author: Gabor Steingart

Is a well known author, some of his books are a fascination for readers like in the The War for Wealth: Why Globalization is Bleeding the West of Its Prosperity book, this is one of the most wanted Gabor Steingart author readers around the world.


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