The Last Economic Superpower: The Retreat of Globalization, the End of American Dominance, and What We Can Do October 4, 2010Posted by McGraw-Hill Education (Asia) in Highlights, Management & Organization.
Tags: AIG, american home mortgage, asset, asset backed commercial paper, bankrupt, bear, Bear Stearns, bernanke, billion, Brazli, BRIC, bubble, bull, Bush, business cycles, cash flow, central bank, China, Citigroup, commerical paper, commodities, commodity, competition, Congress, consumer, credit crisis, credit default swap, crisis, debt, deficit, deflation, depression, dow jones, downturn, Economic, economic growth, economy, Emergency Economic Stabilization Act, emerging market, equity, ETFs, euro, failure, Fannie Mae, FDIC, financial instrument, financial system, fiscal, foreign, Freddie Mac, free market, global financial crisis, globalization, gordon brown, great depression, growth, IMF, income tax, India, indy mac, inflation, Innovation, investment bank, job loss, job security, jp morgan, lehman, liquid, liquidity, macroeconomics, Madoff, main street, meltdown, merrill lynch, microeconomics, Minsky, moodys, mortgage, mortgage backed security, nasdaq, Obama, oil, paulson, Ponzi, poverty, private equity, productivity, real estate, recession, rescue package, Russia, s&p, savings and loan, Schumpeter, short sell, stabilization act, stagflation, standard of living, stimulus, subprime, TARP, tax cut, taxes, Thain, trillion, troubled assets relief program, unemployment, venture capital, volatility, wachovia, wall street, wamu, washington mutual
In this important new book, well-known Wall Street strategist and expert on international affairs, Joseph P. Quinlan delivers a powerful message about the role that a post-financial collapse United States will play in the global economy as it competes with other global economic powers. How the U.S. reacts to the perilous circumstances it faces could determine the future success of our global economic and political influence, and globalization in general.
According to Joseph P. Quinlan, the global impact of the 2008/2009 economic crisis will be far from temporary. Like the Great Depression, this severe recession is ushering in an entirely new epoch, one in which the free-market ideology that flourished since the days of Ronald Reagan and Margaret Thatcher and spawned widespread globalization has been utterly discredited. Quinlan further believes that the United States, with its crippling debt burden, is no longer in a leadership position to set global economic policy, while emerging countries, especially China, are now shaping a new world. He sees the era of U.S. dominance as coming to an end, threatening to bring globalization down with it. Quinlan sets out this provocative view in his new book, Future Imperfect.
In an accessible narrative fashion, he examines a wide array of reactions to the recession, and what he finds is not promising. A shift toward greater financial regulation promises to restrict global financial trade. Present bills in Congress contain “Buy America” provisions and protectionist tariffs have been enacted in countries across the globe. Holding a vast amount of America’s debt, China has become increasingly strident in promoting the virtues of state capitalism. If the U.S. and the West cannot adapt to a world in which they no longer call the shots, the result will be a collection of me-first nations trading within balkanized spheres of influence. In such a world, everyone will be a loser, with no united effort to confront such serious challenges as global climate change, peace in the Middle East, malnourishment in Africa, energy security, and the scarcity of such vital natural resources as water and oil.
Indeed, in Quinlan’s view, such a move away from globalization and towards greater regulation and protectionism would lead to a dangerous hostility between developed and undeveloped nations and among various regional blocs. And the U.S., as the world’s largest economy, top manufacturer of goods, number-one exporter of goods and services, technology leader, and largest recipient of foreign direct investment, would be the biggest loser of all.
Compelling in its logic and grounded thoroughly in facts, Future Imperfect is a wake-up call for all thinkers on the subject of international relations. Quinlan recognizes how we got here, and outlines the crucial adjustments we need to make in order to alter our course and achieve a fully integrated global economy that promotes world-wide economic growth and reduces the risks of wars and cross-border conflicts. Now, more than ever before, America must adapt to succeed in a new world of multiple and competing interests.
About the Author
Joseph P. Quinlan (New York, NY) is Managing Director and the Chief Market Strategist of Bank of America, Global Wealth and Investment Management, in New York. He joined the firm in June 2003 after working as a Senior Global Economist at Morgan Stanley. Quinlan has also worked as Director of Economic Research at Sea-Land Services, a $3 billion global transportation firm. Quinlan started his career with Merrill Lynch Economics.
In addition to his duties at Bank of America, Quinlan is a Senior Fellow at the Center for Transatlantic Relations, the Paul H. Nitze School of Advanced International Studies (SAIS) of Johns Hopkins University. He is also a Senior Transatlantic Fellow (non-resident) at the German Marshall Fund in Brussels, where his research centers on regional and global trade and investment flows. In late 2006, Quinlan was appointed as a non-resident Fellow on U.S.-Asian Affairs at the Pacific Council on International Policy. In 1998, he was nominated as Eisenhower Fellow and studied China-Taiwan cross-straits relations for a month in Taiwan.
As a Fellow, Quinlan regularly debriefs and advises senior U.S. congressional leaders on global economic/financial affairs on Capitol Hill, and has testified before the European Parliament on transatlantic trade issues. He is a leading expert on global trade and investment flows.
He is the author, co-author, editor or contributor to over a dozen books. He has published over 125 articles on international economics and trade, with publications appearing in such venues as Foreign Affairs, Financial Times, Wall Street Journal, and Barron’s. He appears regularly on NCBC, PBS, and Bloomberg. He is regularly quoted in various media outlets. He has been profiled twice in Barron’s twice over the past few years.
Quinlan lectures on global finance at New York University, where he has been on the faculty since 1992. He is also an adjunct professor at Fordham University. He has lectured in Europe and Latin America on global affairs and international finance. Other teaching experience include: Distinguished Lecturer at Fordham University, New York; Distinguished Lecturer, Chapman University, Los Angeles; Florida Atlantic University, Boca Raton, Florida. He has also lectured at the Wharton School of Business and the Thunderbird School of Global Management, Glendale, Arizona.
Tags: Africa, aid, AIG, american home mortgage, asset, asset backed commercial paper, bankrupt, bear, Bear Stearns, bernanke, billion, Brazli, bubble, bull, Bush, business cycles, cash flow, central bank, CEO, Chimeraca, China, Chinamerica, Citigroup, commerical paper, commodities, commodity, competition, conflict, Congress, consumer, credit, credit crisis, credit default swap, crisis, currency, debit, debt, deficit, deflation, Deng xaiopeng, depression, dow jones, downturn, dumping, Economic, economic growth, economy, Emergency Economic Stabilization Act, emerging market, equity, ETFs, euro, exchange, failure, Fannie Mae, FDIC, financial instrument, financial system, fiscal, foreign, Freddie Mac, free market, global financial crisis, globalization, gordon brown, great depression, growth, hong kong, IMF, income tax, India, industrial, industry, indy mac, inflation, Infrastructure, Innovation, investment bank, jo wenlai, job loss, job security, jp morgan, lehman, liquid, liquidity, macroeconomics, Madoff, main street, manufacturing, Mao zedong, meltdown, merrill lynch, microeconomics, Minsky, monitarism, moodys, mortgage, mortgage backed security, nasdaq, Obama, oil, paulson, policy, Ponzi, poverty, private equity, private sector, productivity, public sector, real estate, recession, rescue package, Russia, s&p, savings and loan, Schumpeter, shanghai, short sell, Sino-American relations, stabilization act, stagflation, standard of living, stimulus, subprime, Taiwan, TARP, tax cut, taxes, Technology, Thain, trade, trade imbalance, trillion, troubled assets relief program, unemployment, venture capital, volatility, wachovia, wall street, wamu, washington mutual
The Uneasy Partnership that Will Change the World
Authors: Jones, Handel
©2010 | 1st Edition | 304 pages , Hardcover
Pub Date: July 2010
Price: US$ 27.95
From a leading global economic analyst, the definitive look at the costs and benefits of competing with China
Conventional wisdom pits China against the U.S. in a war for economic supremacy. However, In ChinAmerica, Handel Jones, a pioneer in creating Sino-American business partnerships, and one of the leading experts on China’s industrial and economic emergence, demonstrates that the wave of the future is cooperation between the two titans, not conflict-and how America will benefit from increased economic engagement and competition with China.
Focusing on several key areas of conflict and mutual interest, Jones details what American businesses and policy-makers must do to keep pace with China’s private and state-owned corporations. Filled with sharp observations and cutting-edge research, ChinAmerica is the most comprehensive look yet at the interdependency of the world’s two leading powers. It is, in short, a book that will change minds about Sino-American relations.
“A must-read for anyone seeking to understand the emergence of China as a major industrial power and how profoundly it is changing the world economy.” — Dr. Henry Kressel, author of Competing for the Future: How Digital Innovations Are Changing the World
“This book is essential reading for business leaders and observers everywhere as this dramatic shift of economic and political power from the West to China continues.” — Ray Bingham, chairman, Flextronics International
“ChinAmerica provides extremely in-depth visibility into the interactions and interdependency of China and the United States. I believe everyone who takes the time to read it will learn of the many challenges and opportunities that exist for both China and the United States.” — Richard Kulle, president and CEO, gEM Services, Inc.
“Handel Jones lays out concisely what China is doing right and the United States is doing wrong. This is a wake-up call because China today is the most serious economic competitor that the United States has ever faced. This book should be required reading for all U.S. politicians and business leaders.” — Wilfred J. Corrigan, founder, chairman, and CEO (retired), LSI Logic Corp.
1. Book Review
- by The Next Silicon Valley, July 16, 2010
2. Book Review
- by China Daily on August 03, 2010
3. Book Review
- China Economic Review
4. Book Review
- Today’s Manager Oct -Nov 2010 Issue
5. Book Review
- Chinese Cross Culture Vol.8 No.4
5. Interview with Handel Jones
- China Daily on August 03, 2010
6. Interview with Handel Jones
- Jing Daily
7. Interview with Handel Jones
- Global Times
About the Author
Handel Jones is the founder, owner, and CEO of International Business Strategies, Inc. He has over 35 years of experience in the industry, which has included senior management positions at ITT and at Rockwell International (an organization with over 100K employees), where he was VP of Strategic Planning, Acquisitions, International Marketing, and Engineering for the Commercial Electronics group.
International Business Strategies has been in business for 21 years and is a market and strategy consulting company, and the customers include the leaders in the electronics business in the U.S., Japan, Europe, South Korea, Taiwan, and China. Examples of customers include IBM, Nokia, Samsung, Sony, Toshiba, TSMC, and China Resources, as well as many of the large financial institutions. International Business Strategies is also involved with analyzing government strategies and the impact on the global economic environment.
Dr. Jones has presented at the Warburg Pincus Technology and Media Roundtable in Beijing (over multiple years). He has been quoted in Fortune, the Wall Street Journal, Business Week, and former Fortune editor Gene Bylinsky’s book called the “The Japanese Chip Challenge”. Dr. Jones has been involved with China since the early 1980s and had interaction with the Minister of Industry of China. There was also a strong emphasis on Japan, including the rise and fall of the Japanese industry as well as the analysis of the rise of South Korea and the growth of Taiwan.
The current area of emphasis is on the China industry. Dr. Jones has traveled extensively around China, with over 10 visits to China in 2008 alone. The analysis of the Chinese industry includes the activities of the Chinese government, the state-owned enterprises (SOEs), and the private companies. Dr. Jones has focused on helping international businesses to invest in China as well as for Chinese companies to expand overseas.
His work has supported Carlyle, Blackstone, CitiGroup, Warburg Pincus, Walden, KKR, Morgan Stanley, and Bain Capital and covers mergers and acquisitions, venture capital, business expansion and restructuring. There is in-depth understanding of the past trends, but the key area of emphasis is projecting the impact on future global economic environments.
Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System April 8, 2010Posted by McGraw-Hill Education (Asia) in Finance, Highlights.
Tags: Alt-A, american home mortgage, Ameriquest, and Markets, Apprenticed Investor, arms, Bad Money, bailouts, Bank of China, Bear Stearns, bernanke, Bill Fleckenstein, BNP Paribas, Case-Shiller, CDO, CDX, central bank, Charles Morris, chris dodd, countrywide financial, credit, credit crisis, crisis, Devil Take the Hind Most, dollar, downturn, Economic, economic bubble, economy, Fannie Mae, fed, fed policy, Federal Reserve, fiscal, foreign bank markets, Freddie Mac, friend of angelo, FuisonIQ, George Soros, Greenspan's Bubbles, hedge fund, Hope Now Alliance, house price index, housing market, interest rates, Jim Johnson, jp morgan, Kent Conrad, Kevin Phillips, Liar's Poker, margin calls, Mark Williams, McGraw-Hill Education, meltdown, Messiahs, Mobs, mortgage, mortgage backed securities, mortgage backed security, mortgage broker, mortgage crisis, mortgage debt, mozilo, NAR, national association of realtors, NetBank, New Century Financial, paulson, Richard Bookstaber, Risk, risk mangement, s&p, savings and loan, Senate Banking Committee, Senate Finance Committee, Standard & Poor's, subprime, super SIV, superfund, Term Securities Lending Facility, The New Paradigm for Financial Markets, TSLF, U.S. dollar, unsustainable, valuation, wall street, When Genius Failed, William A. Fleckenstein, William Bonner
Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System
Author: Williams, Mark
©2010 | 1st Edition | 256 pages , Hardcover
Pub Date: March 2010
Price: US$ 27.95
Author’s Website | Author’s Interview | Sample Chapter | Learn More
The risk taking behind Wall Street’s largest bankruptcy . . .
In this dramatic and compelling account of Lehman Brothers’ spectacular rise and fall, author Mark T. Williams explains how uncontrolled risk toppled a 158-year-old institution—and what it says about Wall Street, Washington, D.C., and the world financial system. A former trading floor executive and Fed bank examiner, Williams sees Lehman’s 2008 collapse as a microcosm of the industry—a worst-case scenario of smart decisions, stupid mistakes, ignored warnings, and important lessons in money, power, and policy that affect us all. This book reveals:
- The Congressional inquisition of disgraced CEO Dick Fuld: Did he really deserve it?
- How the investment-banking money machine broke down: Can it be fixed?
- The key drivers that caused the financial meltdown: Can lessons be learned from them?
- The wild risk taking denounced by President Obama: Is Washington to blame, too?
- The ongoing debate on reform and regulation: Can meaningful reform avert another financial catastrophe?
This fascinating account traces Lehman’s history from its humble beginnings in 1850 to its collapse in 2008. Lehman’s story exemplifies the everchanging trends in finance—from investment vehicles to federal policies—and exposes the danger and infectious nature of uncontrolled risk.
Drawing upon first-person interviews with risk management experts and former Lehman employees, Williams provides more than just a frontline report: it’s a call to action for Wall Street bankers, Washington policymakers, and U.S. citizens—a living lesson in risk management on which to build a stronger fi nancial future. Williams provides a tenpoint plan to implement today—so another Lehman doesn’t collapse tomorrow.
Includes a ten-point plan to ensure a strong financial future for both Wall Street and Main Street
About the Author
Mark T. Williams is a nationally recognized risk management expert in the field of banking. Since 2002, Mark has been on the Finance and Economics faculty at Boston University where he teaches courses in risk management, economic activity and capital markets. He holds the academic rank of Executive-in-Residence/Master Lecturer. He also consults with major banking institutions.
Prior to Boston University, Mark held positions in banking, as a Federal Reserve Bank examiner and as a senior executive for a major trading company. Frequently he is asked by media to provide thought leadership on financial risk management related matters.
Since 1997, Mark has resided with his wife and two daughters in Newton, Massachusetts. He is an avid bike rider, and commutes to Boston University from his home year round.
Mark T. Williams introduces his latest book, about the financial market debacle and Lehman Brothers.
SuperCycles: The New Economic Force Transforming Global Markets and Investment Strategy March 9, 2010Posted by McGraw-Hill Education (Asia) in Economics, Highlights, Review.
Tags: aid, AIG, american home mortgage, asset, asset backed commercial paper, bankrupt, bear, Bear Stearns, bernanke, billion, Brazli, bubble, bull, Bush, business cycles, cash flow, central bank, China, Citigroup, commerical paper, commodities, commodity, competition, Congress, consumer, credit crisis, credit default swap, crisis, debt, deficit, deflation, depression, dow jones, downturn, Economic, economic growth, economy, Emergency Economic Stabilization Act, emerging market, equity, ETFs, euro, failure, Fannie Mae, FDIC, financial instrument, financial system, fiscal, foreign, Freddie Mac, free market, global financial crisis, globalization, gordon brown, great depression, growth, IMF, income tax, India, indy mac, inflation, Innovation, investment bank, job loss, job security, jp morgan, lehman, liquid, liquidity, macroeconomics, Madoff, main street, meltdown, merrill lynch, microeconomics, Minsky, moodys, mortgage, mortgage backed security, nasdaq, Obama, oil, paulson, Ponzi, poverty, private equity, private sector, productivity, public sector, real estate, recession, rescue package, Russia, s&p, savings and loan, Schumpeter, short sell, stabilization act, stagflation, standard of living, stimulus, subprime, TARP, tax cut, taxes, Thain, trillion, troubled assets relief program, unemployment, venture capital, volatility, wachovia, wall street, wamu, washington mutual
The New Economic Force Transforming Global Markets and Investment Strategy
A brilliantly original assessment of what caused the global crash and a practical plan for investing accordingly
Supercycles, according to international economist and strategist, Arun Motianey, are the continuous, long waves of boom and bust that undulate through the global economic and financial systems. More often than not, they are the result of policymakers’ well-intentioned but misguided attempts to achieve price stability. In Supercycles, Motianey surpasses the traditional business cycle model (“Boom and Bust”), to provide a detailed, objective, and at times surprising explanation of global economics.
Drawing heavily on history and informed by cautious readings of a wide range of economic thought, Motianey critiques the way macroeconomics has been practiced by the major powers’ central banks through the years.
Specifically, it was the banks’ intervention, ostensibly in the quest for price stability that actually served to entrench price instability. Further, he makes a compelling case for the new tools we’ll be using to manage the post-meltdown global economy, and even advises on investor portfolios to protect us from the likeliest scenarios that occur when a supercycle enters its terminal phase.
A cogent and impossible-to-ignore mixture of economics, finance, policy, risk management, and investment advice from a global perspective, Supercycles is certain to inform and inspire debate among investors, academics, and casual readers alike.
“Highly readable. The pitch-perfect blend of the best economic thinking informed by the lessons from the past and the investment savvy of a veteran investment advisor at the top of his game.”
– Thomas J. Trebat, Executive Director, Institute of Latin
American Studies & Center for Brazilian Studies,
“A provocative way of looking at the global economy. This book will make you stop and think.”
– Peter Scaturro, Private Bank Executive
“This lively volume not only examines the big picture, but also provides practical advice for investors who are trying to prosper in this complex and challenging economic environment.”
– Harvey S. Rosen, John L. Weinberg Professor of Economics
and Business Policy, Princeton University
“Arun Motianey sheds light on some of the more ludicrous propositions of modern equilibrium economics. He describes how investment bankers and economists got it all wrong?and the world is experiencing the disastrous consequences.”
– Dr. Terry O?Shaughnessy, Fellow in Economics, St. Anne’s
College, Oxford University
“Not all readers will agree with Motianey’s savage criticism of the fi nance-driven modern economy, but few can read SuperCycles without having at least some of their preconceived notions challenged. A must-read for policymakers and investors.”
– Dr. Kevin Hebner, Global Investment Strategist,
Third Wave Global Investors
“Required reading for those who do not want to get lulled into the conventional thinking?”
– David Martin, Chief Risk Officer, AllianceBernstein
SuperCycles: The New Economic Force Transforming Global Markets and Investment Strategy was recently been reviewed on the influential investing site SeekingAlpha.com. Seeking Alpha has given Supercycles a positive review terming it a “must read for economic junkies” and calls the author, Arun Motianey’s ideas “fresh and innovative”. To read, please click HERE
Author Arun Motianey was recently interviewed on Yahoo Finance and CNBC’s Squawk Box To view, please click on the link below:
The Economist features SUPERCYCLES, both in the magazines and in the Financial Markets Blog:
- The Economist – The cycle lane, to read, please click HERE
- The Economist, Financial Markets – The Financial Cycle. To read, please click HERE