Thirty years ago, China seemed hopelessly mired in poverty, Mexico triggered the Third World Debt Crisis, and Brazil suffered under hyperinflation. Since then, these and other developing countries have turned themselves around, while First World nations, battered by crises, depend more than ever on sustained growth in emerging markets. With the global economy teetering on the brink, the stakes are higher than ever as this fundamental question is considered: which policy reforms, implemented under what circumstances, actually increase economic efficiency? As he explores in Turnaround, Peter Henry demonstrates that in much of the emerging world the policy pendulum now swings toward prudence and self-control. With similar discipline and a dash of humility, the First World may yet recover and create long-term prosperity for all its citizens.
Simultaneous Arabic translation will be provided
image: Alicia Nijdam / CC-BY-2.0
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