The Big Idea
The relative economic superiority and power of the United States is quickly slipping away. This is mainly brought about by the rise of new superpowers, particularly China and India, which are ushering a third wave of globalization, one that is characterized not by corporations but by highly educated and skilled individuals - the three billion new capitalists. The continuous rise to power of countries such as China and India threatens to undermine the six-hundred year old dominance of the west, particularly that of the United States.

This book serves as a shocking wake-up call for Americans and the rest of the world as it projects the worlds economic future if the current trends continue. These trends include increasingly unsustainable trade deficits, the equally unsustainable and dangerous buildup of massive dollar reserves in some countries, the end of the U.S. position as the leader in science in technology, the outsourcing of jobs and the demographic meltdown in major parts of the world.

Towards the end of the book, the author offers practical suggestions on how the U.S. can avert a totally disastrous scenario.

About the Author
Clyde Prestowitz - Clyde Prestowitz, one of the shrewdest economic trend-spotters with a long history of predicting the important trends long before they become apparent to others, is also the Founder and President of the Economic Strategy Institute, a Washington think tank influential in the areas of international trade policy and specialized in how key sectors of the US and world economy adapt to change, in particular the effects of globalization.

Prior to founding ESI, Clyde Prestowitz served as vice chairman of the Presidents Committee on Trade and Investment in the Pacific. He was also a senior executive with American Can Company and Scott Paper Company in the United States, Europe, Japan, and throughout Asia and Latin America. Mr. Prestowitz has also served as counselor to the Secretary of Commerce in the Reagan Administration, and sits on the board of the US Member Committee of PBEC and is a member of the advisory board of Intel Corp.

He regularly writes for leading publications, including the New York Times, Washington Post, and Foreign Affairs. He is the author of several best-selling books, including Trading Places and Rogue Nation: American Unilateralism and the Failure of Good Intentions.