Homecoming
The Path to Prosperity in a Post-Global World
(Sprache: Englisch)
A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization—by one of the preeminent economic journalists writing today
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A sweeping case that a new age of economic localization will reunite place and prosperity, putting an end to the last half century of globalization—by one of the preeminent economic journalists writing today“This invaluable book is as bold in its ambitions as it is readable.”—Ian Bremmer, New York Times bestselling author of The Power of Crisis
ONE OF THE BEST BOOKS OF THE YEAR: Kirkus Reviews
At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order. But the reign of globalization as we’ve known it is over, argues Financial Times columnist and CNN analyst Rana Foroohar, and the rise of local, regional, and homegrown business is now at hand.
With bare supermarket shelves and the shortage of PPE, the pandemic brought the fragility of global trade and supply chains into stark relief. The tragic war in Ukraine and the political and economic chaos that followed have further underlined the vulnerabilities of globalization. The world, it turns out, isn’t flat—in fact, it’s quite bumpy.
This fragmentation has been coming for decades, observes Foroohar. Our neoliberal economic philosophy of prioritizing efficiency over resilience and profits over local prosperity has produced massive inequality, persistent economic insecurity, and distrust in our institutions. This philosophy, which underpinned the last half century of globalization, has run its course. Place-based economics and a wave of technological innovations now make it possible to keep operations, investment, and wealth closer to home, wherever that may be.
With the pendulum of history swinging back, Homecoming explores both the challenges and the possibilities of this new era, and how it can usher in a more equitable and prosperous future.
Lese-Probe zu „Homecoming “
CHAPTER 1One World, Two Systems
Years ago, during a reporting trip to Beijing following the 2008 financial crisis, I interviewed the CEO of a major European clean-energy company that was a market leader in China at the time. I asked the executive how he saw business going forward, and he said he felt optimistic the company would be in fourth place within the next five years. I was startled. Why was falling from pole position to fourth place good news? And how could he be so precise about the future? Because, as the CEO told me, this is what Communist Party leaders had told him would happen as local competitors moved into the market.
A few years later, in 2013, I was in China again. I happened to be there right as the Edward Snowden story was breaking and as the world was digesting the whistleblower s leaks of National Security Agency material that showed that the United States, the United Kingdom, and various other liberal democracies were regularly gathering surveillance data on citizens, often with the help of private technology and telecom firms. The American public in particular had been shocked or, as Claude Rains s character says in the movie Casablanca, shocked, shocked to learn that the U.S. government and the private sector had shared such information.
During one of my interviews in Beijing, I broached the topic with a People s Liberation Army general with whom I was discussing the potential for conflict between the two countries. At the time, the United States chief foreign policy problems were still in places like Pakistan, Afghanistan, and the Middle East. But I had been struck on another visit, to the U.S. Navy s Indo-Pacific Command headquarters in Honolulu, by a heat map showing the locations of past, present, and possible future geopolitical conflicts. The red portions were moving inexorably from the Middle East to South Asia to the South China Sea, which is where the problems of the future seemed to lie. This struck me as
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a big and very underexplored story, given that most of what you could buy in Walmart had to make its way through the South China Sea to get to American consumers.
I asked the general (a woman, interestingly) what she thought about the Snowden leaks and the role of both the state and the private sector in the global economy and geopolitics. She smiled and said that most Chinese found Americans naïveté around such things surprising. In China, there is no line between the country and the company. The two were one and the same, and the latter would always be in service to the former.
These were among the many reporting moments I ve had in China over the last two decades that made me wonder why U.S. policy makers and corporate leaders ever thought that China would miraculously take its place in the existing world order and trade system. At the time that I was having these conversations, much of the world certainly, China was understandably questioning the wisdom of laissez-faire, Anglo-American-style capitalism and unfettered free trade in the wake of the financial crisis. Yet policy makers in the West were still pretending that the world would reset to the mid-nineties. CEOs of large companies were willfully blind to the risks of supply chain problems and market access in China, where a new Great Power conflict with the United States clearly loomed and where the rules of the market game could, in its state-run system, change at any time. There was also a general level of arrogance on the part of the West in relation to China that I found puzzling. Why would such a large nation, with its own long history, rich culture, very different political system, and enormous market, not create its own rules as it retook its historic place on the world stage? Remember that for much of recorded history, China and India, not America, vied
I asked the general (a woman, interestingly) what she thought about the Snowden leaks and the role of both the state and the private sector in the global economy and geopolitics. She smiled and said that most Chinese found Americans naïveté around such things surprising. In China, there is no line between the country and the company. The two were one and the same, and the latter would always be in service to the former.
These were among the many reporting moments I ve had in China over the last two decades that made me wonder why U.S. policy makers and corporate leaders ever thought that China would miraculously take its place in the existing world order and trade system. At the time that I was having these conversations, much of the world certainly, China was understandably questioning the wisdom of laissez-faire, Anglo-American-style capitalism and unfettered free trade in the wake of the financial crisis. Yet policy makers in the West were still pretending that the world would reset to the mid-nineties. CEOs of large companies were willfully blind to the risks of supply chain problems and market access in China, where a new Great Power conflict with the United States clearly loomed and where the rules of the market game could, in its state-run system, change at any time. There was also a general level of arrogance on the part of the West in relation to China that I found puzzling. Why would such a large nation, with its own long history, rich culture, very different political system, and enormous market, not create its own rules as it retook its historic place on the world stage? Remember that for much of recorded history, China and India, not America, vied
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Autoren-Porträt von Rana Foroohar
Rana Foroohar
Bibliographische Angaben
- Autor: Rana Foroohar
- 2022, Internationale Ausgabe, 400 Seiten, Maße: 15,7 x 23,4 cm, Kartoniert (TB), Englisch
- Verlag: Crown
- ISBN-10: 0593444388
- ISBN-13: 9780593444382
- Erscheinungsdatum: 24.10.2022
Sprache:
Englisch
Pressezitat
Fascinating . . . Powerful . . . [A] valuable [contribution] to the understanding of the trends toward regionalization. Foreign AffairsForoohar s work here is equal parts journalism and visioning, offering a host of case studies of how we might produce and consume differently while simultaneously painting a picture of a more resilient and rooted economy. . . . As [Homecoming] spells out in vivid detail, we have our work cut out for us to bring the economy home. The American Prospect
In this deeply reported book, Foroohar offers a mix of lively on-the-ground tales and stimulating macroanalysis to explain how globalization and localization are changing business, finance, and our wider society. . . . A must-read. Gillian Tett, New York Times bestselling author of Anthro-Vision
Foroohar has consistently been right on globalization. Homecoming explains how local manufacturing is becoming a solution for many communities around the world. The detailed reporting and interviews make for eye-opening and gripping reading. Joseph E. Stiglitz, Nobel Prize laureate in economics
The way we eat impacts everything in our world, and Homecoming is a thorough examination of not just the dire consequences but also the many hopeful possibilities contained in that simple truth. Alice Waters, New York Times bestselling author of Coming to My Senses
By asking the fundamental questions of what matters and who matters, this book comes with some conditioned optimism about the future: Global cooperation is possible (and needed), but can yield positive social outcomes only if built on sound economic thinking that values community, sustainability, and equity. The road to this new form of capitalism is paved with books like Homecoming. Mariana Mazzucato, author of Mission Economy
In this fascinating book, Rana Foroohar argues that the retreat from hyperglobalization is a fact and a welcome one at that. Homecoming will change
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how you think of the world to come. Dani Rodrik, author of The Globalization Paradox
Foroohar walks us through the fiasco of four decades of devotion to neoliberal economic theory that emerged from the collapse of the Bretton Woods system, leading to the inevitable global and internal imbalances we see today. Homecoming offers a truly comprehensive and vivid discussion of the aftermath and what we need to do to belatedly address these errors. Daniel Alpert, author of The Age of Oversupply
Rana Foroohar understands what went wrong with America and how to make it right. In Homecoming she weaves it all together to show how to build a safer, cleaner, and more peaceful world. A visionary blueprint for a future that works for all of us. Barry C. Lynn, author of Liberty from All Masters
Foroohar walks us through the fiasco of four decades of devotion to neoliberal economic theory that emerged from the collapse of the Bretton Woods system, leading to the inevitable global and internal imbalances we see today. Homecoming offers a truly comprehensive and vivid discussion of the aftermath and what we need to do to belatedly address these errors. Daniel Alpert, author of The Age of Oversupply
Rana Foroohar understands what went wrong with America and how to make it right. In Homecoming she weaves it all together to show how to build a safer, cleaner, and more peaceful world. A visionary blueprint for a future that works for all of us. Barry C. Lynn, author of Liberty from All Masters
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