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The former dean of the Yale School of Management and Undersecretary
of Commerce in the Clinton administration chronicles the 1971
August meeting at Camp David, where President Nixon unilaterally
ended the last vestiges of the gold standard - breaking the link
between gold and the dollar - transforming the entire global
monetary system. Over the course of three days - from August 13 to
15, 1971 - at a secret meeting at Camp David, President Richard
Nixon and his brain trust changed the course of history. Before
that weekend, all national currencies were valued to the U.S.
dollar, which was convertible to gold at a fixed rate. That system,
established by the Bretton Woods Agreement at the end of World War
II, was the foundation of the international monetary system that
helped fuel the greatest expansion of middle-class prosperity the
world has ever seen. In making his decision, Nixon shocked world
leaders, bankers, investors, traders and everyone involved in
global finance. Jeffrey E. Garten argues that many of the roots of
America's dramatic retrenchment in world affairs began with that
momentous event that was an admission that America could no longer
afford to uphold the global monetary system. It opened the way for
massive market instability and speculation that has plagued the
world economy ever since, but at the same time it made possible the
gigantic expansion of trade and investment across borders which
created our modern era of once unimaginable progress. Based on
extensive historical research and interviews with several
participants at Camp David, and informed by Garten's own insights
from positions in four presidential administrations and on Wall
Street, Three Days at Camp David chronicles this critical turning
point, analyzes its impact on the American economy and world
markets, and explores its ramifications now and for the future.
Globalisation often seems to be an impersonal and abstract
phenomenon. Whether in everyday culture or matters of policy, its
force has been experienced as something at once general and
monolithic. By contrast, From Silk to Siliconis the first book to
tell the history of globalisation through the lens of the people
who shaped it. Taking ten extraordinary individuals, this book
examines what these men and women did, how they did it, and how
their combined will and vision continue to influence our world
today. Drawing together their various stories, Jeffrey E. Garten
finds the common links between these figures. Placing the
individual at the forefront of history, Garten explores some
critical issues, including: How does the growing power of
international trade affect nations' sovereignty? How much influence
can any one person have in transforming our society? He argues
that, in our increasingly globalised world, our progress and growth
will come to be guided by many more such leaders and innovators.
From Silk to Silicon presents a future full of human possibility.
A dramatic transformation of global power is under way, one only
dimly recognized by most Americans. As economics and trade now loom
larger than nuclear stockpiles or Cold War ideology, those
countries with the fastest growing economies have begun to rewrite
the rules of power and influence in the world. These nations are
the Big Emerging Markets, and for too long we have failed to
recognize their importance. We can no longer afford that luxury.
The Big Ten is the essential guide to the ten most important Big
Emerging Markets. Jeffrey E. Garten, the Dean of the Yale School of
Management and the former Under Secretary of Commerce for
International Trade, explains who they are, why they have burst
onto the world scene, and how they will reshape the world in the
twenty-first century. The ten countries to watch are spread across
the globe: Mexico, Brazil, and Argentina in the Americas China,
India, Indonesia, and South Korea in Asia Poland and Turkey in
Europe and in Africa, South Africa. The Big Ten are bigger than
most people realize: they are home to half the world's population,
and the United States exports more products to these countries than
to Europe and Japan combined. They also wield immense political
influence in many of the world's most critical regions. Moreover,
American industrial firms, mutual funds, and pension plans have
begun to invest heavily in these dynamic economies, making our own
prosperity increasingly dependent on theirs.While the Big Ten offer
new opportunities for the United States, Garten observes their
potential political instability could create economic havoc around
the world. In addition, they pose powerful ethical and strategic
dilemmas. The BEMs do not share our values regarding human rights,
child labour, corruption, or environmental degradation, and our
growing contacts with these societies are sure to violate our
notions of fairness and our moral sensibilities. And as the Big Ten
grow and mature as regional powers, they will pose unprecedented
challenges to American global leadership.Drawing on his first-hand
experiences at the highest levels of government, finance, and
academia, Garten advances a comprehensive plan for America to meet
the challenges of this emerging new world. he addresses the
critical questions facing American policy makers, business
executives, educators, and concerned citizens, and he outlines the
bold changes that will be necessary if we are to control our
national destiny in the decades to come. The Big Ten will help
readers understand the importance of NAFTA, the rise of China, the
connection between trade and human rights, and the imperatives for
American foreign policy, business, and higher education. Packed
with powerful insights and real-life stories from the front lines
of international commerce, The Big Ten will redefine the way we
think about America's global role in the twenty-first century.
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