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Connected

by Altman, Daniel
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Overview

What if you could look behind the headlines of the global economy to see how it really worked? Now you can. In Connected: 24 Hours in the Global Economy, Daniel Altman teaches us how the billions of decisions made by individuals can and do change the future. Connected is part travel guide, part owner's manual---an absorbing, accessible, and essential road map for every citizen of the global economy in the twenty-first century.

About the Author, Altman

Daniel Altman received his Ph.D. in economics from Harvard and has written for The Economist and The New York Times, where he was the youngest member of the editorial board. He is now a columnist for the International Herald Tribune. He splits his time between New York, Hong Kong, and Buenos Aires.

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Editorials

Publishers Weekly

Altman's overview of the world's economic workings is useful and informative, though surprisingly dutiful considering the author's promise of a "whirlwind tour." Moving briskly between topics—pegged to an hour-by-hour timeline gimmick—he discusses many concepts: exchange rates, trade deficits, international deals, currency markets, corruption, financial derivatives, technological innovation, the importance of oil. While addressing the outsized role of the U.S., Altman offers valuable glimpses of key foreign economies and leaves us with a solid understanding of how they fit into "the world trading system." "If you want to cope with connectedness," journalist Altman writes, "you have to be as connected as you can—in other words, you have to pay attention to what's happening in the rest of the world." Granted, anyone who's already paying attention will find much of the book's information somewhat remedial. And Altman's attitude toward globalization is so studiously evenhanded and argument-free that the reader may long for the glossy zeal of an advocate like Thomas Friedman or a detractor like Lou Dobbs. Still, as global macroeconomic primers go, this is a quick read that reminds us that we're all in this together—and that many of us have an awful lot to learn to keep up with the global economy. (May 1)

Copyright 2007 Reed Business Information

Library Journal

Seasoned journalist Altman isn't for or against globalization, he just wants to describe it to you accurately. Copyright 2007 Reed Business Information.

Kirkus Reviews

An illuminating tour of the world economy. In more than a dozen vignettes, veteran journalist Altman describes the people, deals and issues that helped shape the international economy on a randomly chosen day, June 15, 2005. His effort to elucidate the complexities of globalization abounds with revealing stories. Haier, a high-end Chinese appliance company, designs niche products, partners with local companies in overseas markets and for two decades has boosted sales by an astonishing 68 percent per year. Changes in required labor skills present Calgary oil companies with huge challenges in recruiting workers from abroad. Multinationals play a major role in countries like Vietnam, where Intel has worked with the government to become the driving force for the entire computer industry. Altman uses each story as a window on a crucial market: stocks, credit, currencies, oil, etc. He presents information in accessible language, whether describing the strategic linkup of a telecommunications giant (Sweden's Ericsson) and a music retailer (Napster), or the battles over trademarks and copyrights now so common in the marketplace. His examples frequently illustrate connections: Change the interest rates in one country and you affect the entire global market; raise oil prices and it becomes more difficult to move goods around and to obtain raw materials for hundreds of products. One chapter explains why the U.S. sets so many global rules and gets to appoint the president of the World Bank. (Size and wealth matter.) Altman notes that interdependency in the IT age demands international cooperation. Danger lurks in the form of sabotage, a lethal computer virus or even a simple typo. In 2005, a Tokyobroker wanted to sell one share of a stock for 610,000 yen but entered an order to sell 610,000 shares. He wiped out $224 million in potential profits. Invaluable reading for Globalization 101. Agent: Robert N. Preskill/LitWest Group LLC

Book Details

Published
May 1, 2007
Publisher
New York : Farrar, Straus and Giroux, 2007.
Pages
304
Format
Hardcover
ISBN
9780374135324

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