"This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.

The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.

This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

AN EXPLOSIVE NEW WILDE AND CHASE ADVENTURE FROM THE INTERNATIONAL BESTSELLING AUTHOR. 'Action, adventure and mayhem aplenty' Scott Mariani 'A writer of almost cinematic talent' - Daily Express Their days of death-defying adventure seemingly behind them, acclaimed archaeologist Nina Wilde and her husband, ex-SAS soldier Eddie Chase, live like any normal family. However, when a mythical civilisation is unearthed deep in the Antarctic ice, they are drawn into a battle for control of its astonishing power. Dashing from New York to New Zealand, from futuristic Chinese cities to the outback of Australia, they soon confront the gravest threat they've ever faced. Pursued by ruthless mercenaries and a secret special forces unit, Nina and Eddie discover the clock is counting down to the extermination of all humanity... Globe-trotting and breathless, this is perfect for fans of action thriller authors like Clive Cussler and Scott Mariani. Praise for Andy McDermott: 'A writer of almost cinematic talent' - Daily Express, Scotland 'Adventure stories don't get much more epic than this' - Mirror 'McDermott raises the bar. . . non-stop high octane action' Publishers Weekly

From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.

Is peace an aberration? The New York Times bestselling author of Paris 1919 offers a provocative view of war as an essential component of humanity. NAMED ONE OF THE TEN BEST BOOKS OF THE YEAR BY THE NEW YORK TIMES BOOK REVIEW “Margaret MacMillan has produced another seminal work. . . . She is right that we must, more than ever, think about war. And she has shown us how in this brilliant, elegantly written book.”—H.R. McMaster, author of Dereliction of Duty and Battlegrounds: The Fight to Defend the Free World The instinct to fight may be innate in human nature, but war—organized violence—comes with organized society. War has shaped humanity’s history, its social and political institutions, its values and ideas. Our very language, our public spaces, our private memories, and some of our greatest cultural treasures reflect the glory and the misery of war. War is an uncomfortable and challenging subject not least because it brings out both the vilest and the noblest aspects of humanity. Margaret MacMillan looks at the ways in which war has influenced human society and how, in turn, changes in political organization, technology, or ideologies have affected how and why we fight. War: How Conflict Shaped Us explores such much-debated and controversial questions as: When did war first start? Does human nature doom us to fight one another? Why has war been described as the most organized of all human activities? Why are warriors almost always men? Is war ever within our control? Drawing on lessons from wars throughout the past, from classical history to the present day, MacMillan reveals the many faces of war—the way it has determined our past, our future, our views of the world, and our very conception of ourselves.

A visionary look at the evolution and future of India In this momentous book, Nandan Nilekani traces the central ideas that shaped India's past and present and asks the key question of the future: How will India as a global power avoid the mistakes of earlier development models? As a co-founder of Infosys, a global leader in information technology, Nilekani has actively participated in the company's rise during the past twenty-seven years. In Imagining India, he uses his global experience and understanding to discuss the future of India and its role as a global citizen and emerging economic giant. Nilekani engages with India's particular obstacles and opportunities, charting a new way forward for the young nation.