Three Billion New Capitalists

by Prestowitz, Clyde V.

• ISBN13: 9780465062812
• ISBN10: 0465062814
• Format: Hardcover
• Copyright: 2005-05-03
• Publisher: Basic Books

Summary

By the beginning of this century it was already commonplace to speak of the U.S. as a "hyperpower," to talk of its military, political, and economic clout as unprecedented in world history, and to assume that American dominance would continue at least throughout our lifetimes. It is conventional wisdom that America will have no serious rivals for at least a generation. But the American position is far more fragile and ephemeral than much of the world believes.Clyde Prestowitz shows the powerful yet barely visible trends that are threatening to end the six-hundred-year run of Western domination of the world. The trends include America's increasingly unsustainable trade deficits; the equally unsustainable (and dangerous) buildup of massive dollar reserves in places like Japan and China; the end of America's position as the world's premier center for invention and technological innovation; the sudden entrance of 2.5 billion people in India and China into the world's skilled job market; the role of the World Wide Web in permitting many formerly localized jobs to be done anywhere in the world; and the demographic meltdown of Europe, Japan, Russia, and, in later decades, even China.Three Billion New Capitalistsis a clear-eyed and profoundly unsettling look at America's and the world's economic future, from an author with a history of predicting the important trends long before they become apparent to others.

Author Biography

Clyde Prestowitz is President of the Economic Strategy Institute in Washington, D.C., and is the author of Trading Places and Rogue Nation. He lives in Potomac, Maryland.

Table of Contents

Prologue	ix
1 Icebergs Ahead	1	(21)
2 How the Capitalist Road Turned East	22	(21)
3 The Global Ballet	43	(15)
4 Made in China	58	(21)
5 Serviced in India	79	(27)
6 High Tech I: America's Baby	106	(29)
7 High Tech II: The World's Baby	135	(15)
8 Cheap No More	150	(14)
9 The End of the Dollar	164	(31)
10 The Comfortable Road to Ruin	195	(29)
11 The Great Shift	224	(30)
12 To Ride the Third Wave	254	(25)
Notes	279	(18)
Recommended Reading	297	(2)
Acknowledgments	299	(4)
Index	303