Summary and Info
In Brave New Wealthy World, leading capital markets expert John C. Edmunds argues that global economic conditions are improving, and that the benefits of economic growth will reach virtually everyone on earth--including billions who have been left behind until now. Edmunds identifies the key mechanisms that will deliver these benefits: the modernization of defective national financial systems, and securitization: the transformation of illiquid assets into securities that can be traded at will amongst investors anywhere on Earth. He also projects significant improvements in services-based job creation linked to changing population trends, as well as enhanced rates of return on cross-border investment in emerging markets. Edmunds describes viable new structures for investment in poor countries, and proposes a new symbiotic relationship between rich and poor countries that offers powerful benefits to both. While he doesn't expect wealth disparities or boom/bust cycles to disappear, he demonstrates that today's international financial arrangements are delivering unprecedented prosperity and well-being--and spreading their benefits far more widely than critics ever thought possible.