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Winner Take All: China's Race for Resources and What It Means for the World Hardcover – June 5, 2012
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Winner Take All is about the commodity dynamics that the world will face over the next several decades. In particular, it is about the implications of China's rush for resources across all regions of the world. The scale of China's resource campaign for hard commodities (metals and minerals) and soft commodities (timber and food) is among the largest in history. To be sure, China is not the first country to launch a global crusade to secure resources. From Britain's transcontinental operations dating back to the end of the 16th century, to the rise of modern European and American transnational corporations between the mid 1860's and 1870's, the industrial revolution that powered these economies created a voracious demand for raw materials and created the need to go far beyond their native countries.
So too is China's resource rush today. Although still in its early stages, already the breadth of China's operation is awesome, and seemingly unstoppable. China's global charge for commodities is a story of China's quest to secure its claims on resource assets, and to guarantee the flow of inputs needed to continue to drive economic development. Moyo, an expert in global commodities markets, explains the implications of China's resource grab in a world of diminishing resources.
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Kirkus ReviewsWritten to clarify important global questions, this book deserves a wide audience.”
Jim Rogers, author of Hot Commodities and A Gift to My ChildrenDambisa Moyo offers a smart primer for investors looking to make sense of the opportunities and risks in the commodity space today. You must read this book if you want to understand the reality of what's happening in the world today. I am afraid the West is going to wake up too late to prepare for the future.”
Peter Munk, Chairman and Founder, Barrick Gold CorporationFor anyone longing to make sense of tectonic, eco-political shifts occurring in the commodities market, Winner Takes All is a fascinating and important book. By focusing her razor-sharp mind on China's central role in the new commodities rush, Moyo sheds light on and makes sense of a profound and dramatic moment in our history. Her book is a must-read."
Ian Bremmer, president of Eurasia Group and author of The End of the Free Market
Steven W. Mosher, The Washington Times
All over the world, China is snapping up mines, agricultural land and oil fields at a frenetic pace, often paying more considerably more than the going rate. The sheer scale of its purchases is astonishing.” Asian Review of Books
[A] warning call by a celebrity intellectual, Winner Take All serves a useful purpose.” Winnipeg Free Press (Canada)
While at heart a book of facts and figures, it is a warning to western governments and a source of valuable information to investors about where to hedge the commodity dollar of the future.” Globe and Mail (Canada)
Moyo, a youthful emerging superstar among global-economy mavens, is not afraid of controversy, as in her new book, a portrait of a world of shrinking resources and potential clashes over them: water, arable land, energy supplies.”
China Economic Review
Winner Take All is impressive in its scope, ranging from the current state of global resource demand and trends in Chinese acquisitions to how commodity trading works and future trends in the demand and supply of resources.”
Winner Take All, Dambisa Moyo's new book on China's role in the current global resource race, is a call to arms against a country that she sees as cannibalizing the world's resources while others foolishly sleep.” ExpatChn.com (Shanghai)Winner Take All is well-researched and chock-full of information about the global commodities market. It's an important and worthwhile ead that provides context for many current events and our world economyand if Moyo's predictions turn out to be accurate, it will shed light on future political issues, too.” Journal of International AffairsThe story of China's remarkable transformation over the past 30 years from an impoverished agrarian society into the world's second largest economy has been extensively documented. Less attention, however, has been given to the consequences of the country's breakneck growth rates on global commodity supply and demand . Moyo's book offers a useful primer on the policies China has adopted to satisfy its commodity demand, and the consequences of these policies for the rest of the world.”
iTV-Asia[Moyo] does her homework, takes no one's word as gospel, considers all sides and makes a very persuasive and troubling case for the Chinese approach to resource security.”
If we do have to face facts, Moyo is our woman. Winner Takes All would delight Gradgrind: it is peppered with nuggets and statistics, both macro and micro. One cannot accuse Moyo of failing to do her homework. So much has been packed into it that her book is impossible to read without learning something. . . . [Winner Takes All] is a warning of crippling resource scarcity.” The Irish Examiner
About the Author
- Publisher : Basic Books; 1st edition (June 5, 2012)
- Language : English
- Hardcover : 272 pages
- ISBN-10 : 0465028284
- ISBN-13 : 978-0465028283
- Reading age : 13 years and up
- Grade level : 11 and up
- Item Weight : 1.1 pounds
- Dimensions : 6 x 1.25 x 9 inches
- Best Sellers Rank: #1,639,143 in Books (See Top 100 in Books)
- Customer Reviews:
About the author
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My interest was also peaked since I have an undergraduate degree in agriculture, and some grad work in agricultural economics, but even for those who have no knowledge of the commodity markets, this book is valuable. It provides a good lesson on how China has been able to take control of much of the world market's supply of valuable commodities, how what China does in Africa and Latin America can be a lesson form the United States and the rest of the Western world. Her chapters on harbingers of things to come and what constitutes a clear and present danger are quite interesting, and worthwhile reading. All in all, I recommend this work for everyone to read - it will serve you well.
This is an excellent read.
In Dead Aid, Moyo is blunt. She argues that the cause of Africa's precarious conditions is aid, mainly concessional (non-emergency) loans and grants. Over the years, $1 trillion of development aid went to Africa from Western governments through a variety of channels. But, Africa has not been better off. Hence, aid, according to Moyo, is the cause of poverty in Africa.
To me, this is a pretty bold statement, and I am afraid that it does suffer from a type of logical fallacy known as "the post hoc fallacy," one that confuses correlation with causation. But notwithstanding this logical shortcoming, the existing positive correlation between aid and poverty (i.e., more aid, more poverty) in Africa is suggestive. Why on earth over the past thirty years, the most aid-dependent countries, according to Moyo, have enjoyed growth rates averaging minus 0.2 per cent per annum. Between 1970 and 1998, when aid flows to Africa were at their peak, poverty increased from about 12 percent to a shocking 66 percent. Africa's real GDP per capita today is lower than that in the 1970s, "leaving many African countries at least as poor as they were forty yeas ago." Is not that a clear signal that something is amiss? Yes indeed. And, Moyo seems to come to grips with the missing point. Why developed countries through international institutions such as World Bank and IMF keep doing the same thing despite the fact that aid policies have been falling short of expectations? The response, according to the native of Zambia is that: the number of people employed in World Bank, IMF, UN agencies, and a myriad of registered NGOs is about 500,000. They are all in the business of aid. So, readers that are bewildered by the relationship between aid and development in Africa and elsewhere (in Haiti for instance) can now draw their own conclusion!!!
In Winner Take All, Moyo's crusade continues. China that once was a friend, a much better one compared to the Western counterparts (see Dead Aid, Chapter 7: Chinese are Our Friends), should now be kept in the loop if we are to secure a common and better future for the world. Why? Because China's seemingly unstoppable desire to keep up with its economic development will have global consequences for all of us. China's rush for commodities around the world, particularly in developing countries with a specific focus on Africa is, Moyo contends, unprecedented in history, outstripping even the insatiable demands for raw materials sparked by the eighteenth century Industrial Revolution. China is buying up mountains in Peru and lands in Africa with the sole intention of anticipating the considerable challenges presented by a resource-scarce future. Given that the world resources - water, copper, mineral, and other foodstuffs - are scarce, there are reasons to be scared. Moyo urges other world power to be more proactive because if China is left alone, it will have an incentive to determine on an arbitrary basis the price of these commodities and hence disturb the market mechanisms. This is what economists call monopsony.
If China's rapid campaign for resources continues at this pace, Moyo foresees an ominous situation characterized by a swift surge in commodity prices, which in turn will lead to worsening living standards across the globe. And, "in the extreme", the story goes on, "as resource scarcity becomes more biting, commodity shortages could lead to outright war."
Moyo's book that purports to examine the economic implication of China's ascendancy as the lead buyer of the world resources, presents some very unpleasant facts. While I don't want you to be overwhelmed by a great deal of details, I think it is worthwhile to mention the followings (and please bear with me): of what the world disposes as lands, only 11 percent (or 1.4 billion hectares) is arable - suitable for crops. The other 89 percent, unfortunately, is essentially composed of mountains and deserts, thus making its exploitation for food production highly unlikely. The landscape is more distressful when Moyo presents the density of people per unit of arable land, which according to her is more accurate than population density - the number of people per unit of area of land. For instance, Moyo reckons, with a world of roughly seven billion for a 1.4 billion hectares of arable land, the situation in an ideal planet is not threatening because if land were evenly distributed, every five people would share a hectare of land. That would be wonderful, no fear of scarce resources and I am sure that Winner Take All would not even exist. But, since the world's land is unevenly distributed in a sense that while some countries possess lots of arable land to dedicate to food production, others have relatively less. China epitomizes this reality perfectly. With its world's largest population, China has only around 12 percent arable land. So, China's unmatched relationship between supply and demand of natural resources is what explains the country relentless endeavors to control the world resources.
Now, to what extent should we take Moyo's concerns, alarms and appeals at face value? Are we truly living in a Malthusian world? Is this really the crucial problem facing mankind? I must acknowledge that these questions do not by any means intend to underestimate Moyo's preoccupations. To some extent, I believe that she put forward legitimate points that we should take into account in a holistic approach to the world challenges. However, the above questions can stimulate (prospective) readers to go over Moyo's oeuvre with a fine-tooth comb. When one reads Winner Take All with a more critical thinking, we are inclined to wonder: What about human's abilities to devise ways to cope with these issues? Inasmuch as it is not the first time that likewise fears are projected, and to the extent that mankind has always created efficient ways to cope with them, it is legitimate to wonder whether Moyo's arguments are not inflated.
By reading the book, you might have your own point...
After all, I commend Moyo for such a well-done job...
I got this book only for a few bucks, and it;s a brand-new one.
I haven't have any time to read it, but I think i will like it