Book Review: Breakout Nations- In search of next economic miracles

Breakout-Nations

Ruchir Sharma is known for his outstanding business acumen. He is also known to be one of the most influential and powerful persons on the planet. His study on the emerging markets as per the current scenario is well explained in the book. The book is to be read in retrospect as it was written in 2012. Nevertheless, many things have changed its shape or have become crystalline from the natural nebulous state such as price wars, demonetization in India and addition of Renminbi (Chinese Yuan) to the currency basket. The book dwells into the geo-political and economic foray in a lucid and eloquent manner.

The approach of analyzing every country separately with comprehensive insights on its history helps the reader to understand the chapter thoroughly. The length of each chapter is also relatively small. The book is intriguing and extremely informative. The analysis of Turkey, Sri Lanka and the Five Tigers of Asia were appalling to me. The curiosity zoomed to heights after reading the initial few pages. The book talks on various economic factors like currency level, GDP, per capita income, Gini Coefficient and technology infusion. The blend of history with the present and Ruchir’s assessment of the future is a fantastic approach, as it becomes a complete learning experience to the audience.

The metaphors such as “morphic resonance” helps the reader understand the pervasion of knowledge among different economies in the world. The book emphasizes on the underlying causes rather the facts that can be obtained online from many sources. For example, the comparison of Indian “Hindu Rate of Growth” with the South African rate of growth in the nascent years of post-independence is well elaborated instead of just comparing them. Another landmark example that I loved was, the discussion on the uprising of Turkey with the integration of secularity and religious orientation. The basics are laid out clearly so that the reader could understand the dynamics of the MEA (Middle East Asia) with respect to the entire world.

The book also talks about other important countries in the global arena and their confrontations in striving to make their country a developed one. The description on all countries are crisp and it is an easy read for the audience. I would urge all the students interested in basic economics and geo-politics to definitely give it a solid read. I was lured by Fareed Zakaria’s statement about the book, “This book is one of the most interesting ones on economic landscape” and trust me, it is that good!

I would rate the book a 4.5 out of 5. I personally felt that the book was short with minimalistic yet optimal details. Perhaps, many would feel this itself to be heavy, as it is loaded with insights and information! I am eagerly waiting to start reading the next book of Ruchir which is also on the same lines, called as “The rise and fall of Nations”.

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