Published in 2012, Breakout Nations: In Pursuit of the next Economic Miracles by Ruchir Sharma is extremely well researched, insightful and gives a clear and concise overview of emerging markets. Sharma, a writer and investor, gives a general background and analysis of the world’s developing economies in a digestible format with each chapter delving into each country’s merits and demerits. He discusses the respective countries' cultures, governments, demographics, economy and political stability. The book gives a summary of major events, particularly the 2008 crisis and how the underlying countries evolved from this. The author’s observations, conclusion and forecasts are based on facts, trends and pattern.
Sharma identifies a number of smaller, less-developed emerging markets that he believes have the potential to ‘break out’ and achieve rapid growth in the coming years. These countries include Mexico, Indonesia, Turkey and Nigeria. As mentioned, the book was published in 2012 and therefore one has the advantage of hindsight and can see where the author’s views were wrong or right.
The book at times was a little wordy and may have been more relevant ten years ago when the book was first released. Nonetheless, Breakout Nations is an excellent read for anyone who would like to understand the future of the global economy and gain an understanding of emerging markets. It provides a wealth of information and I would recommend it to anyone who would like to understand the future of the global economy and cyclical cycles.
Chloe Parsons, Manager.
