Three Billion New Capitalists

The relative economic superiority and power of the United States is quickly slipping away. This is mainly brought about by the rise of new superpowers, particularly China and India, which are ushering a third wave of globalization, one that is characterized not by corporations but by highly educated and skilled individuals - the three billion new capitalists. The continuous rise to power of countries such as China and India threatens to undermine the six-hundred year old dominance of the west, particularly that of the United States. This book serves as a shocking wake-up call for Americans and the rest of the world as it projects the world's economic future if the current trends continue. These trends include increasingly unsustainable trade deficits, the equally unsustainable and dangerous buildup of massive dollar reserves in some countries, the end of the U.S. position as the leader in science in technology, the outsourcing of jobs and the demographic meltdown in major parts of the world. Towards the end of the book, the author offers practical suggestions on how the U.S. can avert a totally disastrous scenario.