Breakout Nations: In Pursuit of the Next Economic Miracles by
Ruchir Sharma
My rating:
4 of 5 stars
Published in 2012, I picked up the book five years late. This is an extremely well-researched book, giving a general background and in-depth analysis of developing or under-developed economies of the world. Ruchir Sharma is a wealth manager and the chief of one of the biggest fund houses in the world. He has given a first hand account of the economic situation prevalent in select list of countries which he thinks will emerge as winners or losers in the long run over the next decade.
Each chapter is about a country and he delves deep into the problems or the plus points of the economy of each of these. The language is easy to understand without too many economic jargons and any layman would be able to soak in the facts provided. It is also interspersed with some trivia which makes it interesting to read. For e.g., how many of you know that Saudi Arabia imports refined petroleum or diesel as it does not have refining capacity to refine its oil produce although it is the largest exporter of crude oil. Or local glass manufacturers in the Gulf region have to import sand, a key raw material for making glass, although the countries are surrounded by sand all around. Apparently, the sand quality is too poor to manufacture glass so they have to import high quality sand from other countries.
If ever there is a sequel (probably he should write a sequel maybe in 2020), I would certainly pick it up to see if his research has borne fruit.
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Devil's Light by Richard North Patterson
