Seeing the Elephant
Understanding Globalization from Trunk to Tail
by Peter Marber
Published by John Wiley & Sons on February 9th, 2009

As the United States, Europe, and other developed nations face the hardships of an economic crisis, many countries once described as "developing" nations now wield greater economic and political influence than some of the so-called "major" powers.  In the era of globalization it’s nearly impossible to discuss basic concerns like food or gas prices, without examining global intersections in trade, energy, immigration, the environment, and defense.   Rising economic powerhouses—China, Russia, India, Brazil, and others—bring a diverse set of interests to the table that the United States cannot afford to ignore.  Moreover, non-state actors – such as banks, multinational corporations, non-governmental organizations and even terrorists – have mushroomed in recent decades and now maintain tremendous influence in world affairs. America's future success, therefore, hinges on understanding and skillfully meshing these participants in the global system. 

 In Seeing the Elephant:  Understanding Globalization from Trunk to Tail (Wiley; February 2009; $27.95; Hardcover; ISBN:  9780470283851), Peter Marber,  Head of Emerging Markets Fixed Income and Currencies at HSBC Global Asset Management, describes how increasing economic integration and the rise of new players is drastically altering the geopolitical landscape, and offers insights on how the U.S. can make policy to maintain a leading role in the years to come.  Marber underscores the importance of forging strong relationships with pivotal developing nations and America's need to reaffirm the centricity of global protocols, rules, and institutions after an unfortunate period of neglect - particularly as protectionist tempers flare amid the current economic crisis.

In his inauguration speech, President Barack Obama clearly stated his intention to engage the global community and open new lines of communication and diplomacy with other nations.  His speech highlighted some of the seven key, interlinking issues Marber describes in detail in Seeing the Elephant.  These include:  trade and finance, energy, security, immigration, health, the environment, and poverty.
 
Marber recommends key adjustments in policies that aim to strengthen and modernize our current institutional infrastructure, including NATO, the WHO, the WTO, the World Bank, and the UN, among others.  While his strategies do not guarantee that the United States will remain on top economically, they ensure that the global system America helped to create triumphs in the end, protecting against the factionalism that led to two World Wars and destroyed decades of economic progress.

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