Connected: 24 Hours in the Global Economy
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What if you could look behind the headlines of the global economy to see how it really worked? Now you can. In Connected: 24 Hours in the Global Economy, Daniel Altman teaches us how the billions of decisions made by individuals can and do change the future. Connected is part travel guide, part owners manual—-an absorbing, accessible, and essential road map for every citizen of the global economy in the twenty-first century. Publishers Weekly Altman's overview of the world's economic workings is useful and informative, though surprisingly dutiful considering the author's promise of a "whirlwind tour." Moving briskly between topics pegged to an hour-by-hour timeline gimmick he discusses many concepts: exchange rates, trade deficits, international deals, currency markets, corruption, financial derivatives, technological innovation, the importance of oil. While addressing the outsized role of the U.S., Altman offers valuable glimpses of key foreign economies and leaves us with a solid understanding of how they fit into "the world trading system." "If you want to cope with connectedness," journalist Altman writes, "you have to be as connected as you can in other words, you have to pay attention to what's happening in the rest of the world." Granted, anyone who's already paying attention will find much of the book's information somewhat remedial. And Altman's attitude toward globalization is so studiously evenhanded and argument-free that the reader may long for the glossy zeal of an advocate like Thomas Friedman or a detractor like Lou Dobbs. Still, as global macroeconomic primers go, this is a quick read that reminds us that we're all in this together and that many of us have an awful lot to learn to keep up with the global economy. (May 1)Copyright 2007 Reed Business Information
Introduction ix"Ericsson and Napster to Unveil Online Music Service" - When Does Working Together Really Work? 3"Japan Charges Mitsubishi Heavy, 17 Others for Rigging Contracts" - Can Governments Make Global Markets More Competitive? 17"Intel Signs Agreement to Help Develop 'Digital Vietnam'" - Do Multinational Companies Bring Progress or Problems Abroad? 35Interlude: Credit Markets and Currencies 51"China's Haier Considers Maytag Bid" - What Determines the Global Economic Pecking Order? 61"Euro Group Must be More Forceful with Ecb-Juncker" - Who Really Controls the World's Money Supply? 85Interlude: Stock Markets 105"Zuma Fall Seen as Good for South Africa Investment" - What Does Corruption Cost? 111"Syria Aims to Have a Stock Market by Year-End" - How Important are Financial Markets to Economic Growth? 127"Julius Bar Confirms Private Client Data Stolen" - is the Financial System Becoming More Vulnerable to the Actions of the Few? 139Interlude: Oil 157"Brazil Markets Slide as Political Jitters Rise" - Which Comes First, Political or Economic Stability? 163"U.S. Treasury Secretary Urges European Financial Reforms" - Can the United States set the Global Economy's Rules? 177"Alberta Aims to Attract Skilled Oil Workers" - is Immigrationa Luxury or a Necessity? 193"Former Siu Aviation Students Sue Hooters Air Over Business Plan" - Does it Help the Economy When Ideas Have Owners? 209"East Timor not Ready to Handle Oil, Gas Revenue, Gusmao Says" - Can a Poor Country Get Rich Too Quickly? 223"Thai Airways Will Omit Interim Dividend as Cost of Fuel Rises" - Do Disruptive Shocks Help the Economy in the Long Term? 237Epilogue 249Notes 257Acknowledgments 275Index 277
