No comments about Multinationals and Development.

1 comments about International Economics.

1. I am currently using this text book for an independent study and am finding that Dr. Van den Berg eases the reader into the subject gently, instead of other texts that I have used for my Economic education that slam information at you without any explanation or discussion notes. This text also makes good use of scenarioes and explaining the models that are used.
   
   The text is meant for a 300-level course in Economics, preferably after a student has completed his or her studies in the fundamentals of economics and the intermediate micro and macro texts. Still, I am finding this text much easier to work with than the Intermediate Microeconomics text that I had to read previously.
   
   I also recommend the study guide that Dr. Van den Berg has written for this course, which provides a slimmed down version of the text and makes a good complement to the text.

No comments about Harvard Business Review on Leadership in a Changed World (Harvard Business Review Paperback Series).

No comments about Nafta's Impact On North America: The First Decade.

5 comments about Beijing Jeep: A Case Study Of Western Business In China.

1. This is a very good account of the difficulties AMC encountered in trying to set up the first automobile-manufacturing joint venture in China. In fact, these were the same difficulties many other American businesses ran into in the 1980s, when everyone was eager to get into the Chinese market. I think the same problems remain today. In fact, the Chinese bureaucracy is 10 times more corrupt (in more than one incident the first thing visiting Chinese officials to the U.S. ask of their American hosts is "where is the brothel with blonde girls?") and the Chinese people more anti-Western than in the 1980s. The BJ Jeep story is not outdated. Every business exec who thinks of doing business in China must read this book, not some sugarcoated account of how great China is. I grew up in China in the 80s and witnessed the economic revolution firsthand. What pained me the most, even as a teenager, was how corrupt the Chinese society and government was becoming. Red envelopes -- the venue for bribery -- were becoming commonplace, and demanded by every level of bureaucrats with any degree of power. My recent return trips to China confirmed that the situation had not improved at all but worsened. Busisiness negotiations are a nightmare with the mainland Chinese. The book has a very interesting discussion in the beginning about how overseas Chinese are so efficient while the mainlanders are both inefficient, greedy, and inept. Trust me, all these are still true today.

   From my point of view, China is not a market every American business should or must enter. Most foreign companies that have joint ventures do *NOT* make money in China and will probably not do so in the foreseeable future. The only ones that made a lot of money were the Japanese, who flooded (as told in the book) the Chinese market in the 80s with cheap, good consumer goods that the mainland Chinese hadn't seen. Nowadays it's more difficult as China's own companies are getting competitive as well as people are no longer held in awe by Western-style products. What this book teaches, then, is how to keep your expectations low if you want to do business in China, as well as how to avoid some of the common mistakes American executives tend to make, such as assuming the efficiency of the Chinese system or presuming the chain of command. This book will serve as an excellent reminder that mainland China is still many, many years behind the West in both management style, operational efficiency, and cultural honesty.




2. Great book, great story, but not necessarily applicable to today.



3. A well writen book. Easy to read. But it is out of date and one has to be careful not to generalize the findings which were based on experiences of the first joint ventures in China some twenty years ago.



4. This book is absolutely required reading for anyone contemplating any business venture or involvement in China. We also recommend it warmly to any student of contemporary Chinese history or global business. Author Jim Mann does an exceptional job of telling the harrowing story of a high-stakes joint venture that developed when American Motors set out to manufacture Jeeps in China. The battle lines were quite clear, and this "joint" venture proved to be quite a skirmish. The partners' expectations could not have been more different. Far from being a collaboration, Beijing Jeep was a contest in which the parties used deception, subterfuge and obfuscation to wrestle for what they wanted, while giving away as little as possible. The Chinese sought access to modern automotive technology and foreign exchange. The Americans chiefly wanted to sell to China's vast domestic market and to use low-cost Chinese labor in their supply chain. Beijing Jeep depended upon ongoing Chinese subsidies until Chrysler acquired AMC. This account effectively ends with that acquisition and with the Tiananmen uprising shortly thereafter, although the author added an updated epilogue. This Jeep's rough road offers critical lessons about driving business in China.



5. Read the book when it was first published in 1989. Today it is an interesting historical note on Chinese joint business practices. Things have changed greatly in China in the past 18 years. The Chinese have evolved greatly in their international business practices, but the intent of Chinese business has not changed. Chinese business still intends to use American business technology for the good of China without the interference of US industry. The content of the book is history, but do not take the message as history. A necessary read for anyone interested in Chinese business.

5 comments about People Before Profit: The New Globalization in an Age of Terror, Big Money, and Economic Crisis.

1. With many books recently written on the topic of globalization it is encouraging to find one that brings out new significant aspects. PEOPLE BEFORE PROFIT does this in a way that places it in the top range of my recommended books. In addition to providing a wealth of important reflections and very useful facts, Derber covers the complex topics surrounding globalization in a clear and very accessible style. By placing himself inside the circumstances and arguments he addresses his readers directly, fostering ongoing reflection and dialogue.

   Derber examines the various uses and misuses of the term "globalization" that "globalizers" and "anti-globalizers" are claiming for their own ends. He cuts through the ideologies and myths by probing the concept within its historical context - reminding us that globalization and its driving force, "empire building", have been around for thousands of years. All ancient globalization systems were based on the exploitative relationship between a "core" and the "periphery". The net wealth flowed from the periphery (natural resources, cheap labour) to the core (skilled labour, technology) resulting in an ever-increasing gap between the rich core and the poor periphery.

   Derber compares such uneven co-dependent power relationships to a dysfunctional marriage where the powerful partner can leave or bullies the other into submission. The win-win myth of globalization is in fact a "race to the bottom" where the corporations alone have the "exit power". He emphasizes parallels between early US history and the ambitions of recent US administrations. While confined in those days to one country, the concept of globalization can be applied to the American "Robber Barons" then just as much as to the US power brokers of big corporations today. Derber contends their desire to expand economic power and political influence is dependent on the ever-increasing gap between rich and poor. "Free trade" is a misnomer in the context of unequal power relationships between the rich North and the developing countries of the South. In Derber's comparison today's billions of poor in Southern countries have taken the place of the exploited impoverished workforce during the "Gilded Age", underpinning his arguments with many pertinent examples. Yet, his main objective is to motivate all participants in the "globalization game" to learn important lessons from the past. His fundamental precept is that we must "reinvent globalization to create a safe, democratic and economically secure world".

   He challenges the narrow economic perspective of corporate leaders, arguing that globalization without democratization will fail sooner rather than later. Insisting that the political, social and cultural aspects of a globalized world have to be given equal prominence, he dissects the world economic and trading systems, such as the WTO, IMF and the World Bank. He emphasizes the importance of the "positive rights" of the UN system (right to food, shelter, work, etc.). These issues, he stresses, are of utmost importance in a fairer globalized world. He deplores the refusal of US administrations to adhere to existing international legal instruments. At the same time, he examines the "antiglobalization" movements differentiating between the "UN camp" and the "barbershoppers", the latter concerned only with the local community. Derber argues strongly that the localists and the globalists have to come together into a network of global justice movements that recognize that real democracy at one level cannot be sustained without democracy at all levels. He challenges his critics who have called him an idealist or similar with clear arguments, reporting on positive trends in intergovernmental trade debates as well as the democratization processes that have emerged since the Seattle demonstrations.

   Derber elaborated four principles for a "global New Deal" designed to bring democratic control to the global system and to establish fair economic and trade relationships. One pre-requisite is the dismantling of the Bretton Wood institutions, i.e. the IMF, WTO and World Bank, which he sees as a major culprit for the current unfair global trading system. Real participation of people and accountability to civil society represent other crucial components of his vision. Finally, the "global security" we all want and need, whether citizen or transnational corporation, cannot be achieved without tackling the extreme rich-poor divide in this world. Derber concludes PEOPLE BEFORE POWER with a series of concrete action recommendations for his readers. Read this book, whatever perspective you have on globalization. It might provide you with new insights and understanding of the challenges ahead. [Friederike Knabe, Ottawa Canada]




2. If you have time for only one book on globalization this is the one to pick. I heard Charles Derber on a radio program and was surprised at the volume of calls he generated discussing his book "People Before Profit". Political skeptic that I am, I had some doubts about buying the book but my piqued curiosity took over. Two hundred pages later my conversion was almost complete.
   "People Before Profit" takes us inside the globalization phenomenon and shows that it is not as "win-win" as portrayed by its advocates. Most of us are likely to find ourselves among losers-in more ways that you might think. Deeply moving stories of those who already lost in this brave new globalized world confer a distinction on this work that is lacking in other accounts. Nor is globalization as spontaneous and self-propelling as it is billed. Derber shows how globalization's realities grow out of policies, rules, and laws that are devised by a small group of "experts" to promote explicit corporate interests. The chapter on WTO is especially revealing. Another myth is the unique and modern nature of globalization, and the chapter on its history and its "ghosts" debunks that myth in a most elegant and entertaining way.
   But Derber's mission is not just to forewarn us of the dangerous trends inherent in the current perverse form of globalization but also draft an inspiring program that could turn things around. The last chapter is a wake-up call for all of us.
   The book is a real gem-the best gift you can give to friends and family.



3. If you have time for only one book on globalization this is the one to pick. I heard Charles Derber on a radio program and was surprised at the volume of calls he generated discussing his book "People Before Profit". Political skeptic that I am, I had some doubts about buying the book but my piqued curiosity took over. Two hundred pages later my conversion was almost complete.
   "People Before Profit" takes us inside the globalization phenomenon and shows that it is not as "win-win" as portrayed by its advocates. Most of us are likely to find ourselves among losers-in more ways that you might think. Deeply moving stories of those who already lost in this brave new globalized world confer a distinction on this work that is lacking in other accounts. Nor is globalization as spontaneous and self-propelling as it is billed. Derber shows how globalization's realities grow out of policies, rules, and laws that are devised by a small group of "experts" to promote explicit corporate interests. The chapter on WTO is especially revealing. Another myth is the unique and modern nature of globalization, and the chapter on its history and its "ghosts" debunks that myth in a most elegant and entertaining way.
   But Derber's mission is not just to forewarn us of the dangerous trends inherent in the current perverse form of globalization but also draft an inspiring program that could turn things around. The last chapter is a wake-up call for all of us.
   The book is a real gem-the best gift you can give to friends and family.



4. I could easily believe that two authors wrote this book, interweaving their messages.
   
   One Derber seems to be a "nice" free trade advocate, who observes that, if Buddha or Jesus were somehow given the chance, "most people would come to the conclusion the even Buddha and Jesus would likely fail to change corporate policy" to press for maximum return (even at the expense of 14+ hour days for some workers in the world, conveniently allowing that to be government, and not businesses, job).
   
   Another Derber appears to support an corporate antiviolence agenda to "respect the rights of workers to freely associate and organize." Crushing unions seems awful to this Derber, although the business-friendly Derber seemed to insist even Jesus or Buddha would agree the business should crush such unions.
   
   I may have read thru this book too quickly, but just as certainly I have no interest in going back to see what I may have missed. Back cover praise from Chomsky and Nader may not be as hard to acquire as one may think, when the writing is for a generally good cause. I'd suggest reading the 13 page epilogue which has some practical and challenging advice that I did find of substance.



5. The full title might be a more helpful description than anything I can write . . . People Before Profit, The New Globalization in an Age of Terror, Big Money, and Economic Crisis. The book is basically a description of globalization, i.e. profit at all costs in a capitalist colonialism, and it's obvious and not so obvious problems. A lot of time is spent discussing how what happens in the West (and the States in particular) effect those in the third worlds. Essentially describing how top heavy on consumption we are and how that creates fault lines that splinter in other places of the world. As far as a primer on globalization and how our consumption patterns effect others, I couldn't recommend a better book. It's extremely easy to read. And isn't just doom and gloom, but actually very hopeful in the assessment. Although I am a bit more skeptical about us being able to put into practice what he proposes as the solution.

4 comments about New Barbarian Manifesto.

1. Angell's work is really very good, even if the author is sometimes too heavy handed. I saw him on the BBC and he admitted that his book was aimed at stirring the pot. He does that, no doubt. Rather than the glib views of how IT will change our world, Angell suggests that IT and technological change may well have some very serious and unforeseen consequences. It is a must read for all those who blithely toss around the term e-commerce. Read this and get another view!



2. Ever see the film `Falling Down' with Michael Douglas? Well, after a long and frustrating struggle with rank-and-file academics and bureaucrats, Ian has finally taken an intellectual crowbar to post-war socialist greenhouse.

   This is not a pretty book; it is slash and burn. It represents the blinding rage of a generation who suffered in silence as Winston Smith and Joseph K. were digested by early virulent strains of political correctness. So, beware, this book is deeply offensive to lawyers and politicians and all the other anti-conceptual drones who have nested in the post-war socialist paradigm.

   What gives this book its power is the changing nature of the global political economy. Here we are dealing with facts - as hard and cold as the steel rails on which the Industrial Revolution was built. Remember those poor sods who attended the Congress of Vienna in 1815? What? The end of the Austro-Hungarian Empire? Haw, haw, haw. Steam engines powering ships? Hee, hee, hee. A new economy? Ho, ho, ho. The collapse of the Russian, French, and British empires? Tears of laughter. Airplanes? Oh, please no more!

   I myself do not necessarily agree with all Ian's arguments, but there is no doubt that he has drawn a true note from his violin. I do believe that Rome will indeed burn again. What will rise from the ashes is what Ian seeks to explore.




3. To get a handle on books like this we must understand the author's philosophy of life.For Angell, the prime purpose in life is making money, lots of money.In his view the most greedy and ruthless go-getters, the "new barbarians," should have open slather to trample on the rest of society.He thinks it is good that globalization is causing societies to disintegrate, because it represents the triumph of the new barbarians.It is instructive to note the thinkers he admires most - Friedrich Nietzsche, Friedrich von Hayek, and Ayn Rand - all right wingers who extolled the "superman" over ordinary folk. Hence Angell's views have worrying fascist implications. In his world the super-rich will rule in "smart regions," and the rest of the people can just go jump.Angell expounds the logic of globalization, but he does not address the problems caused, such as the environmental crisis.He is a spin doctor for globalization.His vision of the future is a recipe for chaos.Rather than being a man for the future, the new barbarian is a dinosaur, doing his best to pull us all down.



4. This is a very cool book because the synthesis is done by a academian who writes like a potboiler novelist! The paragraphs are shock full of references to deep philosophical and academic treatises, but done in an entertaining manner. Every paragraph is like poetry. Excellent derivative work.

   In a nutshell, the author is taking a theme first exposed by Alvin Toffler "Future Shock" "Third Wave" and developing it further to synthesize the way the world's economies have performed in the last 20 years.

   Outstanding! Don't be put off by the seeming "facist" or "harsh" tone of some of this writing--the author is tell you how it is, not how it should be--hence the term "barbarian" in the title. The old guard will attempt to smooth over raw, naked capitalism but in the opinion of the author it will be a losing battle (I'm not so sure, since I believe most old people, having been raised by the Welfare State, will never go quietly, so it will take another generation or two to renounce the Nanny Welfare State.

   I give it four stars not five because the opinions are thrown out without much argument or development. It is a derivative work where you have to understand some background first. So it's not really a beginner's book.

2 comments about mastering foreign exchange & currency options: a practical guide to the new marketplace (2nd Edition) (Financial Times Series).

1. 
   This book has a well written chapter on the economics of foreign exchange. This books' chapters on e-foreign exchange and innovations in e-fx are rather useless for the beginner and also outdated.
   
   The chapters on technical analysis and the individual trainer are short and to the point. It's good information but not enough 'meat' to assist the individual to make better trades. More or the same information can be found in other books that also explain in more details.
   
   There are several chapters that are mainly written for large institutional traders which I didnt find very useful other than getting a 'birds-eye' view from their position.
   
   In my opinion, this book is more for intermediate traders but I wouldn't recommend it to beginners.



2. After reading almost 50 books on the Forex Market and trading the markets live for a few years, I decided that Ms. Taylor's Mastering Foreign Exchange and Currency Options: A Practical Guide to the New Marketplace is the one Forex Book I would take with me if forced to select one. Why? Because it is the only book to somehow comprehensively cover topics as diverse as Currenex, the application of Technical Analysis to FX, Buy Side vs. Sell Side FX Dealer dynamics, Corporate Treasury Hedging, and of course a fairly essential history of both the economics of foreign exchange and the fundamentals relevant to trading it. The book is only 380 pages and most certainly does meet the needs of entry level traders. Intermediate traders or professionals will certainly find topics covered which prompt an occasional: " I didn't know that !". Again, Ms. Taylor has given us the essentials of both the theoretical dimensions of Foreign Exchange pricing both Spot, Futures, and Options AND the nitty, gritty incidentals of how the technology works to make the market happen. What most books on Forex fail to do - this book does achieve. Few Forex primers squarely place Spot Forex into the Inter-Bank context where it belongs. Few books adequately integrate information about Corporate Treasury concerns with the nature of Central Bank Intervention. Trading Forex on the Retail level without understanding CLS or the Flow Information available through Currenex is like Racing Nascar without knowing how to change a tire. Ms. Taylor's book achieves this through the gift of being able to simplify, coordinate, and render the essential of a topic without loss of rigor or information. Usually books achieving this are a dense read, but this book is not - and that is the work of a great teacher.

No comments about A Handbook of Primary Commodities in the Global Economy.

2 comments about The New Global Economy and Developing Countries: Making Openness Work (Policy Essay, No. 24).

1. Like clothes, economic development policies are subject to the trends of fashion. This book examines the current development fad, "openness," and critiques it as a flawed economic model when applied simplistically to developing countries. The author, Dani Rodrik, professor of international political economy at Harvard, is no enemy of an open world economy, but he argues that its boosters greatly oversell its virtues and neglect its vices. He contends that too many governments and their policy advisors are fixated on openness --the unrestricted flow of goods, services, and capital across borders--as an end in itself. The dangers to this approach, he warns, are that: 1) openness alone is an unreliable mechanism to generate and sustain economic growth; 2) it tends to widen income and wealth inequalities within both developed and developing countries; and 3) it exposes countries to external shocks that can trigger domestic conflicts and political upheavals.

   A developing country can gain much from openness to trade and investment, he agrees, but it must also do much in actively "making openness work"--the theme of the book. The minuses of openness may outweigh the pluses if a country fails to develop its own internal "complementary policies and institutions." What kind of policies and institutions? He cites these as among the most important: "participatory institutions, civil and political liberties, free labor unions, non-corrupt bureaucracies, high-quality independent judiciaries, and mechanisms of social insurance such as social safety nets." He offers specific evidence on how such institutions are valuable to developing countries for coping with turbulence in the world economy and for countering the widening of inequality that openness often brings. For most economists Rodrik is heretical because he debunks the "free market religion" and derides "knee-jerk globalizers," though only in passing. This is far from a diatribe against globalization. Instead, the book presents a detailed factual case for openness as "part of a development strategy," rather than a substitute for one. His forceful advice to governments and policy advisers: "Stop thinking of international economic integration as an end itself. Developing nations have to engage the world economy on their own terms, not on terms set by global markets or multilateral institutions." A valuable chapter of the book is one titled "Is Africa Is Different?" Rodrik answers No; openness can work its wonders there but (as anywhere) definitely not if applied simplistically.

   Rodrik slips into jargon from time to time, but you can still benefit from reading his book even if you don't have a degree in economics.

   --Robert A. Senser, editor of the Website Human Rights for Workers




2. In this book, Danny Rodrik offers some valuable guidance for policy-makers. They should focus on the fundamentals of economic growth - investment, macro-economic stability, human resources and good governance - and not let international economic integration dominate their thinking. The potential benefits of openness will only be realised when "complementary policies and institutions are in place domestically".

   An important result from his analysis is that a strong, participatory, democracy is good for growth. This is very much in line with Barro's "Determinants of Economic Growth" (1998).The resoning is that a country with a strong democracy will be better at resolving the social conflicts emerging from external economic shocks, and therefore benefit from greater macroeconomic stability. In order to increase the effectiveness of dealing with shocks, the channels to which non-elites can make themselves heard, and participate, in policy making needs to be improved. Otherwise dissatisfaction will lead to social unrest.To play the role of honest broker, the state needs to perceived as competent and free of corruption.

   Two policy areas are identified as being central to achieving long-term growth and making openness work: A domestic investment strategy; the strengthening of domestic institutions of conflict management.

   Many of his findings offer support for much of current policy thinking on development. The importance of political freedom, security of person, and the need for a reasonable degree of macroeconomic stability is widely recognised. Good governance has moved firmly up the list of priorities. Also, attempts are being made to try and increase the widespread "ownership" of reforms through e.g. the Comprehensive Development Framework of the World Bank.

   However, there are several important areas where Rodrik's analysis requires further consideration:

   · Developing countries, in devising a domestic investment strategy, are better advised to look at ways of reducing risk and improving their credibility in the eyes of domestic and foreign investors, rather than following Rodrik's suggestion to improve investment returns through e.g. investment subsidies. (see Moran (1998) "Foreign Direct Investment and Development").

   · The strong link between good governance and openness is very important and needs greater attention. Red tape and corruption are strongly correlated. Trade restrictions nearly always introduce distortions, caused by "rent seeking" activities, and create vested interest groups.

   · As he suggests, all countries are able to improve their "fundamentals". But it is also true that different regions are likely to benefit from integration - in terms of both growth and poverty reduction - to very different extents.

   · Rodrik suggests that Africa is not "different". He is right in so far as domestic factors - stability and security - are central to its success. But sub Saharan Africa is different . It faces great difficulties in building institutions of conflict management and has a legacy of being the most trade and capital hostile region.

   · As is always the case in the "never ending question" of empirical tests of the links between trade and growth, the interpretation of the results of his work is very much open to question. He is far from decisively refuting this link.

   Taking some of these factors into account suggests that Rodrik's somewhat sanguine attitude to inward-looking developm t is ill advised. Also, the potential role for international governance in helping to overcome several of and the problems facing poorer countries - low credib ity, limited regulatory resources, small markets -becomes more important. But these rules will help in so far as they encourage certainty, transparency and non-discrimination, rather than in offering flexibility. However, as Rodrik states, " these rules of the internation economy must be flexible in order to allow developing countries to develop their own "styles of capitalism"".