Abenomics policies, 57–58
ACTA. See Anti-Counterfeiting Trade Agreement
ADB. See Asian Development Bank
ADBI. See Asian Development Bank Institute
Advanced economies challenges, 336–341
Advanced economies prospects, 48–49
Advanced market risks, 75–103
AEC. See ASEAN Economic Community
Anti-Corruption Action Plan, 320
Anti-Counterfeiting Trade Agreement (ACTA), 9
Arab Spring, 42, 293–296
Arab Spring, economic impact of, 231–232
ASEAN. See Association of South East Asian Nations
ASEAN BAC. See ASEAN Business Advisory Council
ASEAN-BAC Survey on ASEAN Competitiveness, 192
ASEAN Business Advisory Council (ASEAN BAC), 192
ASEAN Economic Community (AEC), 191–194
ASEAN Business Advisory Council (ASEAN BAC), 192
economic convergence and interdependence, 192
single market and production base, 192
Asian Development Bank (ADB), 4, 348–349
Asian Development Bank Institute (ADBI), 30
Asset quality review, European Banking Authority, 58
Association of South East Asian Nations (ASEAN), 22, 191
Brunei Darussalam, 194–196
Cambodia, 196–198
GDP, 31, 32
Indonesia, 198–201
influences of, 28–35
international trade effects in, 193
Laos, 201–203
Malaysia, 203–206
member countries, list of, 30
Myanmar, 206–209
Philippines, 209–213
Regional Comprehensive Economic Partnership (RCEP), 33
Singapore, 213–215
Thailand, 215–216
unit labor costs, relative levels of, 34
Vietnam, 216–217
Bananagate scandal, 315
Barron, Patrick, 115–117
Bastiat, Frederic, 119–120
Beggar-thy-neighbor policy, 115
Beijing-based Unirule Institute of Economics, 94–95
“Beyond Economic Growth” (Soubbotina and Sheram), 286
Black holes of global finance, 314
Blanchard, Olivier, 48
Boone, Elisabeth, 305–306
Bottom-of-the-pyramid customers, 28
Brazil
and currency rate, 79
emerging markets, economy of extremes, 71–74
International Monetary Fund(IMF), 136–138
and Middle East and North Africa (MENA) region, 240
Breakfast clubs, 190
Bribery Act, 188
BRICS (Brazil, Russia, India, China and South Africa) countries, 7–8, 22, 24, 133–164
coping with de-dollarization, 154–160
GDP, 37
global influence, challenge of, 39
global influential ascend, 153–164
IMF-like development bank, capitalization of, 160–164
influences of, 35–39
U.N. budgets, participation and contribution to, 38
Brunei Darussalam, 194–196
Building Better Global Economic BRICs (O’Neill), 35
Business intelligence, importance of, 279–290
Cambodia, 196–198
Capital Control Measures, effectiveness of, 84
Chiang Mai Initiative (CMI), 161
China
and currency rate, 77–78
emerging markets, challenges, 67–71
International Monetary Fund, 147–149
and Middle East and North Africa (MENA) region, 243–244
CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa), 22
breakdown of, 169
vs. BRIC economies, 167
Colombia, 169–171
corruption, problem of, 187–190
definition of, U.S Department of Justice, 189–190
Egypt, 177–180
emerging market, 165–169
Indonesia, 171–173
influences of, 39–41
market performance, 166
Next Eleven (N-11) countries, 40–41
South Africa, 184–187
Turkey, 181–184
Vietnam, 173–177
CMI. See Chiang Mai Initiative
Colombia, 169–171
foreign investment in, 171
GDP growth rate, 170–171
seguridad democrática (democratic security) policy, 170
U.S.-Colombia Free Trade Agreement, 170
Consumer price index (CPI), 47, 82, 88, 110
Corruption, 309–333
challenges of combating, 312–315
levels, by country, 309–310
political participation and accountability, importance of, 319–321
poverty, 316–319
prevention, software and web-based analysis, 330–332
Corruption Perceptions Index, 96
CPI. See Consumer price index
Crime, 309–333
prevention, software and web-based analysis, 330–332
Currency exchange rates, 79
Currency rate, 77–85
Bank of Japan (BOJ) and, 79
Brazil and, 79
and capital flows, 81–85
China and, 77–78
consumer price indices, 82
control, 81–85
devaluation, threats of, 80
direct intervention, 80
European Central Bank, 79
foreign exchange taxes, 83
interest rates, 80
leading export and import traders, 78
managed flexible exchange rate, 83
quantitative easing (QE), 77, 80, 81
United States, 77–78
Currency suicide. See Currency war
Currency war, 17, 77.See also Currency rate
BRICS countries and, 114
exchange rates, against dollar, 113
and global economies, 112–115
value in devaluation, 118–122
wealth and subsidy transfer, to foreigners, 116–117
Currency Wars: The Making of the Next Global Crisis (Rickards), 114
Debt level reductions, 10–13
Déséglise, Christian, 38
Dodd-Frank financial overhaul bill, 50
Doi Moi (“Renewal”), economic reform package, 174
EBR. See European Business Registry database
ECB, SeeEuropean Central Bank
Economic freedom, 50
Economic growth, Asia and, 282–284
Economic liberalization, 142
Economic nationalism, 98–102
fiscal stimulus and financial bailouts, 98–99
response to, 101–102
Economic order, new, 284–290
Economics in One Lesson (Hazlitt), 119
Economist Intelligence Unit, 25
EEU. See Eurasian Economic Union
Egypt, 177–180
economy, 177–178
emerging and frontier markets, 344
GDP growth, 180
IMF, 179
Nasser, Gamal Abdel and, 177
Pew Center’s Global Attitudes Project, 178
unemployment and inflation, 178–179
YaLibnan, Lebanese news, 178
Emerging countries, World Bank and, 22
Emerging market crisis, coping with, 335–358
Emerging Market Potential Index (EMPI), 266–267
Emerging markets, 63–74
advanced vs., 47–74
Association of South East Asian Nations (ASEAN), 22
Brazil, economy of extremes, 71–74
capitalism, new form of, 66–67
case studies, 275–276
challenges, 352–355
challenges and opportunities, 341–342
China’s Challenges, 67–71
counter-influence of, globe, 21–46
Egypt, 344
entry mode, 259–277
GDP and, 24–26, 32
impact of, on global economy, 65–74
indicators to institutions, 266, 268
Indonesia, 344–345
institutional voids, opportunities filling, 268–270
Iran, 345–346
Kraft-Cadbury, in India, 276
manufacturing bases, 266
McDonalds, in India, 276
multinational companies, failure of, 261–265
Nigeria, 346
overview, 259–261
Pakistan, 346–349
Philippines, 349–350
ranking, 265–267
recovery from global financial crisis, 357
risks, 75–103
sourcing destinations, 266
stimulating domestic demand
policies, 63
strategic choices for companies, 270–275
target markets, 266
Turkey, 350
Vietnam, 350
EMPI. See Emerging Market Potential Index
Eurasian Economic Union (EEU), 140
European Business Registry (EBR) database, 331
European Central Bank (ECB), 13, 16, 88, 89
The European Union, global economic prospects, 58–62
asset quality review, 58
euro crisis, 58–60
GDP, 60–62
Maastricht Treaty, 58
olive growing countries, 58–60
Eurozone crisis, 15
Every Nation for Itself: Winners and Losers in a G-Zero World (Bremmer), 6
Ewing, Jack, 48
Exchange control, 303
Extortion, Private and Public: The Case of Chiquita Banana (Paul), 328
FCL. See Flexible Credit Line
FCPA, SeeForeign Corrupt Practice Act
Financial repression, 15, 16, 17, 19
Financial system vulnerabilities, 284–290
Fiscal austerity, 11, 60
Flexible Credit Line (FCL), 341
Foreign Corrupt Practice Act (FCPA), 188
corruption and crime, 309–333
criticism, 327–330
enforcement, billion-dollar fines and jail time, 325
grease payments, 323
Increase in U.S. Department of Justice enforcement, 323
Securities and Exchange, actions brought by, 322
violations, 324–327
“Fragmentation and East Asia’s Information Technology Trade” (2004), 283
Frontier markets
Bangladesh, 343–344
challenges and opportunities, 341–342
Egypt, 344
highlights of, 343
Indonesia, 344–345
Iran, 345–346
Nigeria, 346
Pakistan, 346–349
Philippines, 349–350
Turkey, 350
Vietnam, 350
Fukuyama, Francis, 6
Future of Dollar Hegemony (Zoffer), 159
GCC. See Gulf Cooperation Council
G-7 countries, 286
economies and, 1–19
global financial crises, 13–19
power dynamics and multipolar world, 7–9
real government bond yields, 18
G-8 countries, 4–5
G-20 countries, 286
economies and, 1–19
global financial crises, 13–19
indebtedness impact, emerging markets, 10–13
list of, 2
power dynamics and multipolar world, 7–9
GDP. See Gross domestic product
Geoghegan, Michael, 40
Gini index, 72
GLIN. See Global Legal Information Network
Global Corruption Index, 188
Global economic prospects, 47–74
currency war and, 112–115
The European Union, 58–62
GDP, 109
G-7 economies, 106
G-20 economies, 106
IMF, 109
Japan, 54–58
quantitative easing (QE), 106–107, 111
United States, 50–54
at War, 105–122
Global Legal Information Network (GLIN), 331
Global market crisis, coping with, 335–358
Global trade, rebalance of, 123–131
cumulative current accounts, GDP, 124
current account deficits, nations with, 129
exports, GDP, 125
fiscal cliff, 130
G-7 and G-20 nations, 128
great recession, 126
imbalance of global economy, 127
Great Depression, 13
Great recession, 4, 126
Gross domestic product (GDP), 10–12
advances in, 4
BRICS (Brazil, Russia, India, China and South Africa) countries, 37
Colombia, 170–171
Egypt, 180
and emerging markets, 24–26, 32
The European Union, global economic prospects, 60–62
global economic prospects, 109
global trade, rebalance of, 124, 125
Indonesia, 171
Japan, global economic prospects, 55–56
Middle East and North Africa (MENA) region, 45, 225–226
South Africa, 185, 187
Turkey, 182–184
World Bank, top economies by, 2–4
Gross world product (GWP), 1
Gulf Cooperation Council (GCC), 45
G-Zero phenomenon, 6
Happy Planet Index (HPI), 74
Harper, Stephen, 10
Hazlitt, Henry, 119–120
Hot money, 17, 172
HPI. See Happy Planet Index
Hutchinson, Martin, 168
Imagining India: the Idea of a Renewed Nation (Nilekani), 143
IMF. See International Monetary Fund
Import restrictions, 303
Indebtedness, 10–13
India
emerging markets, 276
International Monetary Fund, 141–146
and Middle East and North Africa (MENA) region, 241–243
Indonesia, 171–173, 198–201
automakers in, 172
cheap financing, 172
emerging and frontier markets, 344–345
external debt in, 173
foreign direct investment in, 172
GDP growth rate, 171
high commodity prices in, 173
hot money, 172
infrastructure spending in, 173
Industrialization, 281–282
Indus Valley civilization, 141
Inflation, defined, 85
Inflation targeting, 85–91
with advanced economies, 86–90
advantage of, 86
central banks, summary of, 87
characterization of, 86
with emerging economies, 90–91
monetary-policy strategy, 86
transmission mechanism, 85
Institutional voids, 27, 268–270
Interest rates frequency distributions, 14, 18
International Anti-Bribery Act of 1998, 315
International Monetary Fund (IMF), 2, 6, 24, 39, 44, 47, 48, 133–164
Brazil, 136–138
BRICS global influential ascend, 153–164
China, 147–149
India, 141–146
Russia, 138–141
South Africa, 149–153
Iran, emerging and frontier markets, 345–346
Islamic caliphate, 348
Japan, global economic prospects, 54–58
Abenomics policies, 57–58
GDP, 55–56
global financial crisis of 2008, 55
Great East Japan Earthquake of 2011, 55
inflation rate, 110
OECD, 55
public debt ratio, 56–57
Kant, Immanuel, 119–120
Khaleej Times article, 44
Labor problems, 303
Laos, 201–203
Load shedding, 151
Local-content laws, 303
Logit analysis, 298
Maastricht Treaty, 58
Macro-prudential regulations, 17
Maierbrugger, Arno, 32
Malaysia, 203–206
Marcus Goncalves Consulting Group (MGCG), 280
Market research, importance of, 279–290
Martin, Paul, 1
MENA. See Middle East and North Africa (MENA) region
MESH. See Middle East Strategy at Harvard project
MGCG. See Marcus Goncalves Consulting Group
Middle East and North Africa (MENA) region, 22, 292
Arab Spring, economic impact of, 231–232
Brazil and, 240
BRICS countries and, 250
China and, 243–244
corruption index, 229–230
exports and imports, 233
export-to-GDP ratio, 236
foreign direct investment (FDI) in, 227, 237–239, 251–252
GDP, 225–226
GDP growth rates, 45
global and emerging market Crisis, 350–352
governance systems, indicators, 251–252
high inflation, 231
India and, 241–243
influences of, 41–46
integration of BRICS with, 239–240
international tourism receipts, 228
intra-regional trade, 232–237
long-term issues of, 228–239
low entrepreneurship levels, 230–231
map of, 220
non-fuel exports, 226
opportunities in, 252–253
overview of, 219–228
population size, 221, 223
population size and growth, 43
public sector, labor market distortion, 230
Russia and, 240–241
South Africa and, 244–250
historical perspectives, 245–246
investments inflow and trade,
perspectives on, 246–250
trade diversification, 232–237
trading partners, major, 233
unemployment rates, 228–229
United States and, 254–257
World Economic Outlook
projections, 45
Middle East Strategy at Harvard (MESH) project, 42
Modern global economic evolution, 281–282
Myanmar, 206–209
Nakba Day, 297
NATO. See North Atlantic Treaty Organization
NAWA (North Africa-West Asia), 41
New York Times article, 48
Next Eleven (N-11) countries, 40–41
Nigeria, emerging and frontier markets, 346
Nilekani, Nandan, 143
North Atlantic Treaty Organization (NATO), 293, 310
Obamacare, 50
OECD. See Organization for Economic Cooperation and Development report
Operating risks, country ranking by, 302
Organization for Economic Cooperation and Development (OECD) report, 28–29
Organized crime. See Crime
Pakistan, emerging and frontier markets, 346–349
Pakistan on the Brink (Rashid), 347
PBOC. See People’s Bank of China
People’s Bank of China (PBOC), 68, 101–102
Pettis, Michael, 128
Philippines, 209–213
Association of South East Asian Nations (ASEAN), 209–213
emerging and frontier markets, 349–350
Plaza Accord, 114–115
PMI. See Purchasing Managers Index
Political and economic risks, coping with, 291–307
Political risks
assessing, 297–305
confiscation, 301
country profiling assessment matrix, 298
country ranking by, 302
domestication, 302
economic and cultural nationalism, 300
government types, sampling of, 299–300
managing, 305–307
sovereignty, 299
Political unrests, 292–297
Poverty, corruption and, 316–319
PPP. See Purchasing power parity
Price controls, 303
Public debt ratio, Japan, 56–57
Purchasing Managers Index (PMI), 69–70, 176
Purchasing power parity (PPP), 35, 148
Qatar National Bank Group (QNB Group), 45
QNB Group. See Qatar National Bank Group
Qualitative easing programs, 280
Quantitative easing programs
currency rate, 77, 80, 81
global economic prospects, 106–107, 111
tapering, 90
Racketeer Influenced and Corrupt Organizations Act (RICO), 324
Reducing Trans-Atlantic Barriers to Trade and Investment: An Economic Assessment (research study), 9
Repression tax rate, 16
Reserve requirement ratio, 68
Rickards, James, 105, 114
Rickards, Jim, 17
RICO. See Racketeer Influenced and Corrupt Organizations Act
RiskRadar, LexixNexis, 188
Russia
International Monetary Fund, 138–141
and Middle East and North Africa (MENA) region, 240–241
SASAC. See State-Owned
Assets Supervision and
Administration Commission
Schwab, Klaus, 140
Security Council, U.N., 6
Shiite protest movement, 294
Singapore, 213–215
South Africa, 184–187
economy, 184
GDP growth, 185, 187
IMF, 184, 186
inflation-targeting policy, 187
investment in, 185
and Middle East and North Africa (MENA) region, 244–250
OECD, 184
World Bank, ranking, 186
World Economic Forum’s Global Competitiveness report, ranking, 186
Stakeholders, 288, 289
State capitalism, 91–97
response to, 97
risks associate with, 94–97
State Hypocrisy on Anti-Bribery Laws (Kinsella), 328
State-Owned Assets Supervision and Administration Commission (SASAC), 95
Stiglitz, Joseph, 6
Strategic Intelligence: Business Intelligence, Competitive Intelligence, and Knowledge Management (Liebowitz), 330
Tax controls, 303
Thailand, 215–216
The Growth Map: Economic Opportunity in the BRICs and Beyond (O’Neil), 36
Think India (Rai and Simon), 144
Thornton, Grant, 190
TPP. See Trans-Pacific Partnership
Transatlantic Trade and Investment Partnership (TTIP), 8–9, 286
Trans-Pacific Partnership (TPP), 8–9, 33
Transparency in Corporate Reporting:Assessing Emerging Market Multinationals (Transparency International), 188
Travel warnings, 304–305
Troyjo, Marcos, 38
TTIP. See Transatlantic Trade and Investment Partnership
Turkey, 181–184
Baku-Tbilisi-Ceyhan pipeline, 182
economy, 181
emerging and frontier markets, 350
Forbes magazine survey, 181
GDP growth, 182–184
OECD, data from, 182
privatization program, aggressive, 181
World Bank, prediction, 182
UNDP. See United Nations Development Program’s report
UNESCO. See United Nations Educational, Scientific and Cultural Organization report
United Nations Development Program’s (UNDP) report, 72
United Nations Educational, Scientific and Cultural Organization (UNESCO) report, 73
United Nations Interregional Crime and Justice Research Institute, 311
United Nations Interregional Crime and Justice Research Institute (UNICRI), 311
United States, global economic prospects, 50–54
debt ceiling, 51
Dodd-Frank financial overhaul bill, 50
economic freedom, 50
Obamacare, 50
treasuries, 54
Value in devaluation, currency war, 118–122
delaying real reform, 121
against fiat currencies, 119
against gold, 118–119
insights from Kant, Bastiat and Hazlitt, 119–120
monetary expansion, boom-bust cycle, 120–121
moral hazard of welfare state, 122
wealth-transfer agent, exporter as, 121
Vietnam, 173–177
Association of Southeast Asian Nations (ASEAN), 216–217
credit default swap (CDS), 176
Doi Moi (“Renewal”), economic reform package, 174
economic achievement and challenges, 176–177
emerging and frontier markets, 350
foreign investment, 176
Ministry of Industry and Finance, statistics from, 175
Purchasing Managers Index (PMI), 176
revenue from retail sales and services, 175
socialist-oriented market economy, 174
traditional markets, 175
Vietnam Association of Retail, 175
World Bank, prediction, 174, 175, 176
WTO, member of, 173, 175
WANA (West Asia and North Africa), 41
Ward, Robert, 39
World Bank, 6, 22, 140, 162
World Bank Group, 309
World Economic Forum’s (WEF) Global Competitiveness Report, 144, 145–146
Zoffer, Joshua, 158–159