The book provides a remarkable and cavernous multi-layered insight on the issue of globalization.

The author draws a spotlight

to explain major events in the global economy of the 1990s and financial crisis which affected many countries. As a reader, I

found the book is articulated in a story telling manner which attract the reader interest and attention. Significant events in the

history of globalization are presented with clarity while still entrapping the reader interest.

The book provoke an interesting debate on whether globalization is beneficial or causing the harm. Author draws from many

sources to substantiate the good or bad side of globalization is perplexing, both side of the argument have its own merits and

hence the it is intricate to ascertain if globalization is here for good or for bad. We may take a side of the argument but it will

only from a perspective and point of reference which we are looking at. But a general sentiment as expressed by author is

globalization debate introduce confusion and confounding. The author main propulsion is to suggest that globalization adds

complexity and capitalism becomes more strongly entrenched worldwide.

The author writing is admirably crystal clear and articulated the context of different definitions of globalization for reader to

understand from globalization from different perspective. Along with the birth of anti- globalization movement and its

objectives. The author tracks back the origin of globalization with its intended goal to and purposes. Author helps to fill out

the record and enhances our understanding of economic processes. To some extent, the book continues in this on the one

hand, on the other hand style when addresses the consequences of globalization.

A balanced view of Asian financial crisis is presented in this book, especially from Malaysian perspective. The strategies

followed by different countries to take full advantage of globalization and manage the globalization may not provide a full

picture as author treat Europe as a block while Asian countries such as Japan and Taiwan as an individual country which

makes. The issue of job losses as a result of globalization and hunting for cheap market is presented in the book, but author

wrote about important changes in the global economy which is shaping the Job shift from west to the east. The book attribute

rising consumerism, work culture changes, shift in local cultures a somehow as a result of globalization.

Role of IMF is described at the surfaced level. The book is silent about how political factors and USA being a dominated force

shape IMF policies. Author also argues that the sovereignty of Nation States may erode as a result of Globalization as powerful

multinationals can influence the government policies. However, one can argue in a connected world as today, no country is

hundred percent sovereign due to commitment towards free trade, international trade policies. The book explained an

example of Korea whose too much export affected the sovereignty of the country. The book may still have to say if a country

heavily depended of FDI and the FDI ratio to local investment is critically disproportion, what kind of compromise the country

have to do on the sovereignty ? Globalization is fading in the struggle against nationalism for peoples hearts and minds. The

world has not become global; instead it became capital, wealth and classes. The nations are less important, perhaps even

irrelevant. That is happening now as the Chinese economy grows and Chinese companies are expanding their presence to

other nations by investing in their financial companies. Another example is Korea, where once so called proud Korean

companies now only just have Korean names but the ownership is foreign.
The book raise a good point why people are only realizing that globalization may have adverse impact now when free trade

exists quite long ago. The author takes a view on the powerful CEO of multinationals, sky rocketing United States current

account deficit and easy mobility of Capital.

The book successfully highlighted a point which other book on globalization often overlook, which is hyper competition in

globalization. The book attempted to portrayed hyper competition has a contribution to fail a lot of companies in US, particular

in Airline industry. However, one side of the hyper competition which book didnt show that hyper-competition occurs when

technologies or offerings are so new that standards and rules are in flux, resulting in competitive advantages that cannot be

sustained. In response, companies must constantly compete in price or quality, or innovate in supply chain management, new

value creation, or have enough financial capital to outlast other competitors. In US airline industry, South West is continuously

successful for more than 25 years, although it is a low cost airline, but it is doing something which Delta failed to do and file

for a bankcurptc. So in my view, failing of the companies cannot be blame to competition, but rather how companies react and

understand competition.

Taking an analogy from Formula one races where the governing body institute framework to ensure that Formula One cars do

not become fastest, author coagulate the same to corporate competition in industry such as airlines, car industry and

Computer industry. Mainstream airlines are now facing intense challenges and competition from low cost carrier and in Car

industry once Car giant such as Ford, GM now have to face the emerging challengers from Asian car manufacturer.

Computer giants such as Microsoft and IBM no more enjoys the position which they used to as new player like Dell and HP

change the way business in computer industry has been done. To sum all, all these industries are facing stiff hyper

competition and most of the first now find themselves into a situation where economy of scale must have to achieve to lower

the cost.

The book clearly articulate the situation of hyper competition, however, still it is silent about during the age of hyper

competition why certain industry in most of the country is well guarded and protected. In Malaysian context, some of the

industries enjoy a monopoly position, for example Telekom Malaysia enjoys a sole provider of land line phones, TNB as power

generation.

The book does not talk in detail the role of government interfere in market. Free market economist Milton Friedman states that

he initially agreed with the underlying principles of antitrust laws (breaking up monopolies and oligopolies and promoting more

competition), but that he came to the conclusion that they do more harm than good. Some of the economist also believes

that antitrust law is based on a static view of the market. In real markets, sellers seek to carve out mini monopolies so they

can increase profits. The prospect of extra profits, deriving from market power, is the engine that drives the economy. So what

might happen in a utopian, perfectly competitive environment is irrelevant to the question of whether government intervention

is necessary. The proper comparison is with the marketplace that will evolve if the antitrust laws, by punishing success,

eliminate incentives for innovation. One of the good examples is Microsoft who is slapped with the record fine and penalties in

Europe history to ship its Internet Explorer software with operating system Windows.
The author rightly pointed that main culprit of economical crisis was deficient regulation of the financial system, together with

a failure of market discipline. Olivier Blanchard, the IMFs chief economist, said that global imbalances contributed only

indirectly to the crisis. This may sound like buck-passing by the worlds main international macroeconomic organization. But

the distinction has important consequences for whether macroeconomic policy or more regulation of financial markets will

provide the solutions to the mess.

The author has rightly pointed towards the globalization and link between environment deterioration. The World watch Institute

said the booming economies of China and India are planetary powers that are shaping the global biosphere. In 2007, China

has overtaken the United States as the worlds biggest producer of CO2. At present rates, tropical rainforests in Indonesia

would be logged out in 10 years, Papua New Guinea in 13 to 16 years. A major source of deforestation is the logging industry,

driven spectacularly by China and Japan. Thriving economies such as China and India are quickly becoming large oil

consumers. China has seen oil consumption grow by 8% yearly since 2002, doubling from 1996-2006.

Crude oil prices in the last several years have steadily risen from about $25 a barrel in August 2003 to over $140 a barrel in

July 2008. The State of the World 2006 report said the two countries high economic growth hid a reality of severe pollution.

The book should also state that the worlds ecological capacity is simply insufficient to satisfy the ambitions of China, India,

Japan, Europe and the United States as well as the aspirations of the rest of the world in a sustainable way.

To sum, it is a good read for anyone who wanted to understand political and social impact of globalization on countries.