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EID MUBARAK
The strengths of nations vary; at a glance it may look as if wealthy nations are lucky to have a central economic tenant which helps them stand out.
Author Ruchir Sharma, expresses how leadership, vision and a disciplined methodology has helped nations maintain a robust economy.
It might seem that geography, a natural gift of commodities or a bountiful reserve of energy are the key factors for a nation to be economically robust.
However, in his book ‘The Rise and Fall of Nations’ Sharma illustrates, by example, that it is a disciplined approach that has enabled nations to shed a sluggish economy, raise wealth and avoid perilous consequences.
Many countries have engaged in increasing debt as a means to invigorate the economy, yet the author argues that once debt exceeds GDP growth, the economy is going to take a hit somewhere down the line. And it is at this point that the economy will likely show negative growth.
Through examples Sharma highlights many countries with potential where growth has been short-lived due to poor handling of wealth.
There are instances where growth is doctored or fast track plans has helped countries to enjoy rapid growth, which is often short lived. Assuming these are such potential economies, these were hyped in the media but the real picture unfolds later.
Sharma is the Chief Global Strategist at Morgan Stanley Investment Management, and I believe his very perceptive reasoning, expressed in the book, is informed by the many analytical reports he has had privileged access to due to his position.
This will be a useful book for businesses looking for insight on the global economy and for entrepreneurs seeking potential countries to invest in.
I give this book a four (out of five) star rating.
