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Breakout Nations: In Search of The Next Economic Miracles


Ruchir Sharma

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Publisher: Penguin (2012)
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Investment manager and author Ruchir Sharma's pursuit of the next 'breakout nations' - the states that have the ability to sustain rapid growth - has raced to the bestselling books list in India, its publishers have claimed.
In Breakout Nations, Sharma, Morgan Stanley's head of emerging market equities, tries to explore the future economic green fields of the world, and interestingly gives India just a 50-50 chance of continuing its journey as a breakout nation.
The publisher Penguin says the book, that was released on April 23rd, is already in its second reprint.
"We are delighted that Breakout Nations shot straight to No 1 in India. It is a pathbreaking book on emerging markets and the only book you'll ever need to understand new economies, it's going to be our biggest non-fiction book this year," says Ananth Padmanabhan, vice president sales, Penguin Books India.
The author and investment fund manager has spent a week each in different developing nations, and the book is his attempt to gauge the strengths and weaknesses of these countries.
As China slows down the economic growth path and India and Brazil face their own problems, he predicts that the new powerhouses will emerge from unexpected quarters such as Turkey, Indonesia and Poland.

Book Summary of Breakout Nations: In Search of The Next Economic Miracles

The argument of BREAKOUT NATIONS is 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.

About the Author
Ruchir Sharma 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 Journal and the Economic Times of India.

Details of Book: Breakout Nations: In Search of The Next Economic Miracles

Book:Breakout Nations: In Search of The Next Economic Miracles
Author:Ruchir Sharma





Publishing Date:2012
Number of Pages:304
Weight:544 grams

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