The World Is Curved: Hidden Dangers to the Global Economy
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David Smick keeps a low profile, but experts consider him one of the most insightful financial market strategists in the world. For more than two decades, he has conferred with central bankers and advised top Wall Street executives and investors. The World Is Curved picks up where Thomas Friedman’s The World Is Flat left off, taking listeners on an insider’s tour through the private offices of central bankers, finance ministers, even prime ministers. Smick reveals how today’s risky environment came to be—and why the mortgage mess is a symptom of potentially far more devastating trouble. He wrestles with the two questions on everyone’s mind: How bad could things really get in today’s volatile economy? And what can we do about it?The World Is Curved is the rare work that speaks simultaneously to the Wall Street, Washington, and London elite, yet its apt storytelling shows Main Street readers how to survive in these turbulent times.“The World Is Curved is...essential...for those who wish to understand the workings, politics, and distresses of the global financial system...insightful and entertaining...” — Alan Greenspan, former chairman of the Federal Reserve Board; author of The Age of Turbulence“David Smick’s probing insights in The World Is Curved stem from an extraordinary vantage point few observers can match.”—George Soros, Soros Fund Management Publishers Weekly Confronting the ever-increasing challenges of globalism and the economic problems plaguing the U.S. from a downward spiraling value of the dollar to the subprime mortgage crisis, Smick argues again and again that the solution to the problem is deregulation and encouraging entrepreneurship. While he examines the U.S. in relation to other emerging and potentially powerful markets (China and India, in particular), Smick argues weakly against Thomas Friedman's more utopian or opportunistic points of view. Jim Bond delivers the book in an accessible and gentle tone. Smick's prose can be a bit inundating, but Bond balances speed with emphasis to keep listeners' attention. A Portfolio hardcover (reviewed online). (Sept.)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
1 The End of the World 92 A Dangerous Ocean of Money 363 Entrepreneurs in a World of Private Equity and Hedge Fund Troublemakers 684 Tony Soprano Rides the Chinese Dragon 935 Japanese Housewives Take the Commanding Heights 1326 Nothing Stays the Same: The 1992 Sterling Crisis 1597 The Incredible Shrinking Central Banks 1888 Class Warfare and the Politics of Globalization 2149 Surviving and Prospering in This Age of Volatility 242Acknowledgments 277A Word on Sources 281Bibliography 285Index 289
