Three Billion New Capitalists: The Great Shift of Wealth and Power to the East by Clyde Prestowitz is a good companion to Tom Friedman’s The World Is Flat regarding globalization. At times I felt the chapters could have been written by both authors. Ultimately they complement the globalization story.
Prestowitz was counselor to the Secretary of Commerce during the Reagan Administration and is Founder and President of the Economic Strategy Institute, a thinktank in Washington DC.
Globalization is certainly not new and some issues addressed by Prestowitz may be hard to wrap around completely, but he provides an overview of what has been accelerating … offshoring. To no surprise the destination is China and India. Released in 2005 Prestowitz could not have considered the Mattel lead paint product recalls fiasco just two months old as consequences of globalization. Or was that just bad management on Mattel’s part?
The shift in wealth and power also focuses on banking and oil. Two chapters focus on this impact for China and India … and America along with the EU. What is an example of the impact on America: 100,000+ new cars are registered every month in Bejing? I would like to see the numbers for Bangalore. Think of a billion new drivers wanting to see their country, visit family and travel to see friends.
