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Exploring Senses |
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Worth
A Read |
By Chikita Kukreja
About the Book
Tectonic Shift represents a continuation of the
journey started by Commanding Heights, Daniel Yergin and
Joseph Stanislaw's masterful recounting of the economic
history of the 20th century. The book offers a plausible
scenario on how the global economy is likely to evolve
in the first few decades of the 21st century. So, in
short it looks at global economies in view of the
emerging geopolitical forces.
The book focuses on the future of different nations of
the globe taking into consideration their economic and
political state. The political system of a nation
directly influences its economic balance. Sheth and
Sisodia have divided the world's developmental process
into three basic growth engines - Western Europe in
1800s, United States in 1900s and Large Emerging Nations
in the 21st century. Of all the countries in the world,
United States has the highest economic output according
to the World Bank.
According to the authors, `the surest and the farthest
way to benefit the largest number of people is to create
true synergy by speeding integration between advanced
and less developed countries.' The authors, take case
studies from across Europe, America, Japan, South Korea,
Africa, Australia, and India to discuss the challenges
faced from a historical perspective. Taking a futuristic
view they also attempt to put forth the threats of
tomorrow. They believe that by 2025, most countries of
the world would be loosely or tightly aligned by the
three trade blocs which are America, Europe and Asia.
The chapter wise description of the book makes the
process of learning extremely interesting. The first few
chapters explain in detail the 'magic of Ricardo' (read
David Ricardo's theory of comaprative advantage) showing
how free trade will prove to be beneficial in the
future. Later, the authors focus on what each trade bloc
must do to make itself globally competitive providing an
overview of the needed change against the challenges to
be faced.
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