A fascinating book detailing the tectonic shift in the world's economic power.
Money, power and influence are shifting from Wall Street, the multinational banks and the G7.
The new economic powerhouses look set to be the BRIC countries and other emerging economies. The new big investors are not the banks of the G7 countries, but rather, a multi-trillion-dollar network of super-rich, secretive, and largely unregulated investment vehicles--foreign sovereign wealth funds, government-run corporations and private equity funds. Taking advantage of the recession and liquidity problems in the US and Europe, cash-rich nations like China, Singapore, Saudi Arabia and Norway are using their sovereign wealth funds to buy up major stakes in multinational corporations, farmland and natural resources.
Highly informative and genuinely startling, Eric J. Weiner's up-to-date account of the shift of global power is a wake up call for politicians and investors in Europe and the US. The Shadow Market moves the conversation from "international competition" to "global financial warfare," and is a must-read for anyone interested in the future of the global economy or how and where to invest your money today.
The book is well researched, full of interesting facts and observations. There is an extensive bibliography for further reading.
Eric J. Wiener is a business and economics writer. He has written for the Wall Street Journal, The Los Angeles Times and many other publications.