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The War for Wealth: The True Story of Globalization, or Why the Flat World is Broken | 
 enlarge | Author: Gabor Steingart
Publisher: McGraw-Hill
Category: Book
List Price: $29.95
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Rating:  11 reviews
Sales Rank: 109294
Media: Hardcover
Edition: 1
Pages: 304
Number Of Items: 1
Shipping Weight (lbs): 1.4
Dimensions (in): 9 x 6.3 x 1.3
ISBN: 0071545964
Dewey Decimal Number: 337
EAN: 9780071545969
ASIN: 0071545964
Publication Date: April 4, 2008
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Condition: Ships next business day. NEW/UNREAD!!! Text is Clean and Unmarked! --Be Sure to Compare Seller Feedback and Ratings before Purchasing-- Has a small black line on bottom/exterior edge of pages. May have light shelf wear to cover from storage, if any. In House Upgrade to Expedited shipping for items valued at or totaling $40.00 or more!
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Product Description
Globalization. The Flat World. Outsourcing. Free Trade. Each 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 politics. In 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 U.S. politicians unite with each other and with Europe, forming a pragmatic third way to bring the West back from the brink of destruction. Compelling, 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.
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| Customer Reviews: Read 6 more reviews...
Insightful and compelling... May 13, 2008
Amanda Marie Kempa
14 out of 16 found this review helpful
I am currently researching NATO's history, so I was immediately intrigued when I heard about Gabor Steingart's ideas on an "economic NATO" - a stronger partnership between Europe and the US intended to grapple with the challenges posed by emerging economic powerhouses such as China and India and the new forms of authoritarian democracy they propagate. I would not agree with all the conclusions of his book -- overall, I am more optimistic that future giants such as China will ultimately come to the conclusion that increasingly playing by the rules is in their best interest, and that current giants like the US will manage to remain competitive, just as they did when confronted by another economic threat from Asia, Japan, in the 1980s. However, Steingart presents an inspiring and thought-provoking case for the need for stronger transatlantic cooperation: he mixes compelling reporting from all over the world with sharp and concise analysis. The far-reaching interview with Prof. Samuelson at the end of the book is big plus, too.
I particularly liked, though, that Steingart does not hesitate to develop a real vision for the partnership between Europe and the US. In the conclusion, he refers to John F. Kennedy's Philadelphia speech from 1962 and his often overlooked ideas on a transatlantic cooperation beyond NATO. Given the roadblocks even minor agreements seem to encounter, it might be overly optimistic to hope for really closer ties anytime soon -- but any outline of a vision for the future is badly needed in the current debates on the relationship between Europe and the US. That is because, unfortunately, far too many people on both sides of the Atlantic seem to consider the "special relationship" a thing of the past rather than the huge field of opportunity it actually is
Look Into the Future! July 10, 2008
Loyd E. Eskildson (Phoenix, AZ.)
12 out of 13 found this review helpful
Steingart believes we spend too much time worrying about places like Kabul and Baghdad, and not enough thinking about places like Shanghai. "The War for Wealth" then details that case. Steingart also contends that the true tale of globalization is not being told - it is anything but a win-win situation. By 2025 China and India will likely dominate the world market with their purchasing power. It took both the U.S. and Japan about 40 years to double their per capita GDP; China took only twelve years.
Harvard historian David Landes believes that their success (and others) is determined by culture - moral values and behaviors. Unfortunately, per Steingart, we currently are paving the road to our demise with self-deception and self-affirmation.
Premier Deng Xiaoping was underestimated by Western leaders when he took over after Mao's death - partly because capitalism was seen as incompatible with a lack of democracy. Deng began by gradually liberalizing restraints on China's collectivized farmers, and in five years 98% of farmland was back in their hands. Deng also put off the military demands for resources, telling them the economy needed to grow first. Subsidies for government businesses decreased, then stopped, in exchange for the state no longer claiming all their revenues. Deng also opened China to foreign investment - $7 million in 1980, $250 billion now. Deng's changes were much more successful than those in resource-rich Russia which underwent a U.S. consultant-led crash immersion.
Brazil, Russia, China, and India together comprise about 45% of the world's labor supply. This will increase further - by 2050 another 1.2 billion are expected to live in Asia.
Those waiting for Chinese wages to equal those in the U.S., thereby eliminating its competitive advantage, have a long wait - Steingart estimates it will take another 30 years before Asian incomes are half as high as those in the U.S., if wage growth in Asia remains constant.
Eighty percent of Wal-Mart's suppliers are in China; until 2004 the U.S. was the largest exporter of IT products - now it is China.
Chinese innovation is accelerated by partnership requirements placed on Westerners building in China, piracy, espionage, R&D spending about 1/3 that of the U.S. (not adjusted for currency differences), extensive training in U.S. universities, higher IQs (about 10 points, on average, per research elsewhere; nine of Microsoft's ten most promising employees are Asian), and buying Western companies and resources. (Hitachi bought RCA and found it could sell its products at a higher price using the RCA label.)
Not only is Chinese labor much cheaper than that in the U.S., it doesn't have the social overhead costs of the U.S. - eg. health care and pensions.
Potential Flashpoints in the Future: North Korea (supported by China) vs. South Korea, India (backed by Russia) vs. Pakistan (backed by China), and Taiwan. Meanwhile, the U.S. and China continue their strange economic relationship.
"The War for Wealth's" one weakness lies in its recommendations - eg. more R&D in the U.S. That cannot overcome a dramatic cost difference held by a nation that is rapidly moving from production to also provide capable design and invention as well.
An important and timely book... April 17, 2008
John Hudson (Bloomington, IN United States)
11 out of 13 found this review helpful
Gabor Steingart's book, the War for Wealth, offers a compelling and frightening assessment on the global balance of power and how it is changing. Steingart shows that while the US, Europe and other liberal democratic countries have enjoyed preeminent economic status and a high quality of life, the rise of China and India and other developing nations are emerging as very real and serious threats. He offers a wealth of informed and insightful commentary on the nature of these threats and what can be done to counteract them. This book is essential reading to anyone interested in understanding the way in which the global balance of power is shifting and how we can respond.
An Original and Thoughtful Analysis July 15, 2008
Tom G (Arizona)
10 out of 11 found this review helpful
I congratulate Gabor Steingart for writing a book that clearly defines the problems for the West brought about by globalization. He suggests realistic ideas for mitigating the worst aspects of this process. His historical context of India and China and analysis of their current direction and strategies makes it very clear that the West better act quickly to protect our culture and institutions. America's foolish self-subjugation to corporate self interest is the wrong path. We're empowering China without regard to our long-term needs. My only criticism is that he's much too lenient with the Bush administration's many failures. This is a great book and Pulitzer Prize quality writing.
A Must Read ... April 22, 2008
Kris Kline
9 out of 10 found this review helpful
Gabor Steingart not only takes the incredibly complex issue of globalization and puts it into terms we can all recognize and understand, but he then dares to go where many authors fear to tread: he offers solutions. For anyone seriously interested in the future of America, it's a real page-turner. Kris Kline, co-author Estados Unidos/United States
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