The “Gulf Falcons”—the countries of the Gulf Cooperation Council—have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on oil exports. This book discusses attempts at diversification in the Middle East and North Africa and the complex choices policymakers face. It brings together the views of academics and policymakers to...

Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually th...

A Harvard-trained economist's startling predictions reveal critical challenges in the decades ahead, helping individuals, businesses, and governments to make smarter decisionsAs individuals, companies, and countries struggle to recover from the economic crisis, many are narrowly focused on forecasts for the next week, month, or quarter. Yet they should be asking what the global economy will look like in the years to come—where will the long-term risks and opportunit...

China Versus the West is an innovative book.The author, a leading specialist on the international and Asian economy and business, presents the most comprehensive picture of the changing power balance between the emerging superpower China and the "old" developed economies of the West: mainly the US, Europe and Japan. The reader can clearly see in what areas and to what extent China has become the world leader, in what areas it is catching up and in what are...

CONSIDER THIS SHOCKING FACT: while China’s number one export to the United States is $46 billion of computer equipment, the number one export from the U.S. to China is waste—$7.6 billion of waste paper and scrap metal.Bestselling author Clyde Prestowitz reveals the astonishing extent of the erosion of the fundamental pillars of American economic might—beginning well before the 2008 financial crisis—and the great challenge we face for the future in competing with th...

As Morgan Stanley's chief Asia specialist, getting Asia right is Stephen Roach's personal obsession, and this in-depth compilation represents more than 70 of Roach's key research efforts not just on Asia, but also on how the region fits into the broad context of increasingly globalized financial markets. The book argues that the "Asia factor" is not a static concept, but rather one that is constantly changing and evolving. Broken down into five parts–Asia's critical role in globalization; ...

In Globalization, authors Bruce Greenwald and Judd Kahn cut through the myths surrounding globalization and look more closely at its real impact, presenting a more accurate picture of the present status of globalization and its future consequences. Page by page, they uncover the real facts about globalization and answer the most important questions it raises, including: Will globalization increase or diminish in economic importance? Do higher living standards depend more on global...

This book suggests how high levels of corruption limit investment and growth can lead to ineffective government. Developing countries and those making a transition from socialism are particularly at risk, but corruption is a worldwide phenomenon. Corruption creates economic inefficiencies and inequities, but reforms are possible to reduce the material benefits from payoffs. Corruption is not just an economic problem, however; it is also intertwined with politics. Reform may require changes...

The author examines what China can teach the U.S. in education, economic policy, foreign policy, strategic planning, and politics.While America reeled from the 2008 financial crisis, a high unemployment rate, and a surge in government debt, China's economy was the second largest in the world, and many predict it will surpass the United States'. President Obama called China's rise "a Sputnik moment"—will America seize this moment or continue to treat China as its sc...

The Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship initially arose out of mutual benefits, in recent years it has taken on the trappings of an unstable codependence, with the two largest economies in the world losing their sense of self, increasing the risk of their turning on one another in a destructive fashion.     In Unbalanced: The Codependency of America and China Stephen Roach, senior fellow at...

In the next twenty years the world economy will enjoy one of its strongest periods of growth. Greater innovation and technical change will increase opportunities. Life expectancy, income and educational standards will rise. The West's share in the global economic cake may get smaller, but there will be more cake than ever before.These are the predictions of Gerard Lyons, a leading international economist who spent nearly thirty years working in the City. He is now the chief economi...

Imagine this: a mere century ago, the purchasing power of an average American was one-tenth of what it is today. But what will it take to sustain that growth through the next century? And what can be said about economic growth to aspiring nations seeking higher standards of living for their citizens?In this important book, William J. Baumol, Robert E. Litan, and Carl J. Schramm contend that the answers to these questions lie within capitalist economies, though many observers make th...