Homecoming - The Path to Prosperity in a Post-Global World

Informationen zum Autor Rana Foroohar Klappentext A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization—by one of the preeminent economic journalists writing today “This invaluable book is as bold in its ambitions as it is readable.”—Ian Bremmer, New York Times bestselling author of The Power of Crisis ONE OF THE BEST BOOKS OF THE YEAR: Kirkus Reviews At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order. But the reign of globalization as we’ve known it is over, argues Financial Times columnist and CNN analyst Rana Foroohar, and the rise of local, regional, and homegrown business is now at hand.   With bare supermarket shelves and the shortage of PPE, the pandemic brought the fragility of global trade and supply chains into stark relief. The tragic war in Ukraine and the political and economic chaos that followed have further underlined the vulnerabilities of globalization. The world, it turns out, isn’t flat—in fact, it’s quite bumpy.   This fragmentation has been coming for decades, observes Foroohar. Our neoliberal economic philosophy of prioritizing efficiency over resilience and profits over local prosperity has produced massive inequality, persistent economic insecurity, and distrust in our institutions. This philosophy, which underpinned the last half century of globalization, has run its course. Place-based economics and a wave of technological innovations now make it possible to keep operations, investment, and wealth closer to home, wherever that may be.   With the pendulum of history swinging back, Homecoming explores both the challenges and the possibilities of this new era, and how it can usher in a more equitable and prosperous future. Leseprobe CHAPTER 1 One World, Two Systems Years ago, during a reporting trip to Beijing following the 2008 financial crisis, I interviewed the CEO of a major European clean-energy company that was a market leader in China at the time. I asked the executive how he saw business going forward, and he said he felt optimistic—the company would be in fourth place within the next five years. I was startled. Why was falling from pole position to fourth place good news? And how could he be so precise about the future? Because, as the CEO told me, this is what Communist Party leaders had told him would happen as local competitors moved into the market. A few years later, in 2013, I was in China again. I happened to be there right as the Edward Snowden story was breaking and as the world was digesting the whistleblower’s leaks of National Security Agency material that showed that the United States, the United Kingdom, and various other liberal democracies were regularly gathering surveillance data on citizens, often with the help of private technology and telecom firms. The American public in particular had been shocked—or, as Claude Rains’s character says in the movie Casablanca, “shocked, shocked”—to learn that the U.S. government and the private sector had shared such information. During one of my interviews in Beijing, I broached the topic with a People’s Liberation Army general with whom I was discussing the potential for conflict between the two countries. At the time, the United States’ chief foreign policy problems were still in places like Pakistan, Afghanistan, and the Middle East. But I had been struck on another visit, to the U.S. Navy’s Indo-Pacific Command headquarters in Honolulu, by a heat map showing the locations of past, present, and possible future geopolitical conflicts. The red portions were moving inexorably from the Middle East to South Asia to the South China Sea, which is where the problems of the future seemed to lie. This st...

Product details

• Authors: Rana Foroohar
• Publisher: Crown Publishing Group
• Languages: English
• Product format: Paperback / Softback
• Released: 18.10.2022
• EAN: 9780593444382
• ISBN: 978-0-593-44438-2
• No. of pages: 400
• Dimensions: 156 mm x 235 mm x 25 mm
• Subjects: Guides > Law, job, finance; Social sciences, law, business > Business