Especially enlightening is his look at China, which he sees as a kind of totalitarian bureaucatic oligarchy, and his view of China's future, which is rather pessimistic compared to many more rosy forecasts. Out of the wrong faction attention of today's innovative monetary policy to focus on the big picture strategist it must work in close relationship with the private sector. He quotes the German view that the British were bullying, devious and dirty. They only care about the facts and insights that reflect future revenue and risks. We struggle to get a handle on it and tend to revert to our world view. The author likes: globalization, Bill Clinton, Alan Greenspan, entrepreneurs, capitalism, risk-takers, wealth, free trade. And that's why entrepreneurs are perceived as being dangerous beings.
Country abandoned by the movement of capital in the process falls in. São tipo robôs, não existe planos de Segurança Social, ali, depois da velhice, as pessoas estão entregues a si próprias, sem qualquer apoio. A ideia inicial de Smick é que o mundo financeiro actual não é plano, mas curvo, pois a falta de transparência não permite aos analistas ver para além da linha do horizonte. Intrigued by this author's thoughts written in a I wanted to then read this book. É isso que a Europa quer para ela? David Smick's excellent book offers an insider's view of our current financial calamity mixed with a healthy dose of economic theory.
And what can we do about it? I would definitely recommend this book to anyone who wants to learn what central bankers are doing when they go to their endless rounds of meetings and luncheons. The problem is that the future is difficult to predict. It is a perilous place for foreign investors and the Chinese need to do significant work to overhaul their legal and financial systems and stamp out corruption. But whether the survival of today's global economy is being increasingly questioned. The book displays a great ambivalence.
The jargon is admirably limited and the concepts are not much more than Econ 101. For many, no amount of data will sway us. As the author describes, liquidity is the oil in the global economic engine; if the oil collects in the bottom of pan short-term gov debt , the economy freezes up. Smick provides a good summary of the development of the current financial crisis, and takes us through the collapse of Bear Stearnes. Smick foi conselheiro de vários candidatos à Presidência dos Estados Unidos.
Nevertheless, he argues cogently that the more important effect of this push toward class warfare will be the withdrawal of international capital. No anecdote is provided on any Chinese gov official or businessmen. While I would not characterize this book as uplifting it is an important look at what got us to where we are and what dangers are still out there. Our outlook is considerably different from a year ago. Smick's career as an economic consultant.
Read along while Smick exposes the hidden global economic dangers and what steps must be taken to correct an imperfect system. Not only was I wrong, I was extremely, simplistically foolish to think such a thing. Japan's system of effectively managing bureaucracy and its essence is now facing a period of bending and brittle. All of which I heartily agree with. This book is an excellent introduction to an often arcane world. I really hope policy makers on both sides of the aisle are seeking advice from people like David Smick.
He has served as an adviser to both Republican and Democratic presidential candidates and has written for publications such as The Wall Street Journal and The New York Times. Smick and his family live in Washington, D. The next president would do well to read this book. I read this book hoping to find some insights or predictions about where the current ecoomic mess is headed, internationally and domestically. He also published widely, including , and.
Regarding taxation, he emphasizes that during a period of fiscal imbalance, it is easy to resort to class welfare and raise taxes on the wealthy. A couple of points smacked me in the head. The United States should maintain its position as an attractive target for investment, and its fiscal imbalances should be resolved quickly. He praises Senator Schumer and Jack Kemp for their understanding that globalization is more beneficial to all than damaging. The traders sound like a collection of benevolent, altruistic souls only concerned about getting the economy to restructure to provide greater efficiency. The irony that has the virtue of personal saving demoted to a social liability is hard to respect. This book was a bit hard to absorb in one read--I'll definitely have to go over it multiple times--but I think the author is spot on and I appreciated his insights.