The Great Shift of Wealth and Power to the East

One of Business Week's top picks for summer reading!

Recommended by the New York Times for summer reading!

American superiority is deteriorating faster than you think. Powerful trends are converging to rapidly shift wealth and power to Asia - and, as acclaimed international trade expert Clyde Prestowitz shows, geopolitical clout will follow economic strength. Now we have to cope with the fallout. How will we deal with a world in which the dollar is no longer the dominant currency, the United States is no longer the dominant power, and people in Slovenia, Singapore, and Seattle are all competing for the same work on the same terms? Three Billion New Capitalists is a clear-eyed and profoundly unsettling look at America's and the world's economic future.

Business Week's Review of the new paperback edition:

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"Three Billion New Capitalists is a call for government to safeguard U.S. citizens from the dangerous shoals of international trade. The appeal comes from an unlikely source: Prestowitz once served in the pro-laissez-faire Reagan Administration as a trade negotiator. But, says the author: "The apparently effortless technological supremacy Americans assume as a birthright...had nothing to do with market forces and everything to do with targeted policy decisions." Prestowitz believes that India and China are on a trajectory to become global economic leaders - and that unless it takes dramatic steps, the U.S. will fall behind."

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