First published 2017
Global economic forces threaten American prosperity on multiple fronts. David Smick examines how worldwide GDP and trade growth have plummeted by half since 2010. Commodity markets have crashed while China and other emerging economies flood the world with excess production capacity, creating deflationary pressures that damage growth everywhere. Corporate debt in developing nations has doubled as China pursues an unprecedented credit expansion. Europe stagnates economically, Japan slides back toward deflation, and Brazil teeters on the edge of default. Meanwhile, global public debt reaches alarming heights. Smick argues that neither major American political party has provided the bold leadership needed to shield the country from these threats. He presents a detailed action plan for the next president to navigate this treacherous economic terrain and restore American growth that benefits businesses of all sizes rather than just major banks and the wealthy elite.
Genres: business, economics, non-fiction, 21st-century
Vibes: intimate, suspenseful, thought-provoking
Tropes: call-to-action, expert-analysis
Setting: America, China, Europe, Japan, Brazil
Period: 2010s
272 pages · Hardcover · PublicAffairs