An in-depth discussion of "Three Billion New Capitalists: The Great Shift of Wealth and Power to the East" by Clyde Prestowitz.
Written in 2007; 4,504 words; 3 sources; MLA; $ 117.95
Paper Summary:
The paper relates that because globalization affects everyone, Clyde Prestowitz' book, "Three Billion New Capitalists: The Great Shift of Wealth and Power to the East", becomes relevant for all modern readers. The paper examines the heart of Prestowitz's focus; the United States and its economic policies. The paper shows how the economic policies guiding emerging economic superpowers like China are more forward-thinking than the outmoded ones that prevail in the United States. The paper discusses Prestowitz's ideas that a revision of American economic philosophy, spending more on education, health care and sound infrastructure, is vital in order to "ride the third wave" of globalization.
From the Paper:
"Clyde Prestowitz could have easily titled his 2006 book Three Billion New Capitalists Can't Be Wrong. The author does not judge the ethics of globalization itself, for Prestowitz is a realist who understands that globalization began in the 15th century and has only recently entered what the author calls a "third wave." Three billion new capitalists can't be wrong because the economic policies guiding emerging economic superpowers like China are more forward-thinking than the outmoded ones that prevail in the United States. Part history lesson, part appeal for changes to American foreign and domestic economic policy, Three Billion New Capitalists: The Great Shift of Wealth And Power to the East is a must-read for anyone remotely interested in the implications of globalization. Because globalization is affecting every citizen of the world, Prestowitz' book becomes relevant for all modern readers and could even become required material in public schools."
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