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The Kimchi Matters: Global Business and Local Politics in a Crisis-Driven World

The central argument of this book is that to do globalization right, one must understand the local political realities of how individual countries work. This truth holds for companies venturing abroad and for policymakers contemplating foreign challenges, and no less for small investors, voters, and others whose lives and finances are increasingly affected by distant world events. The Kimchi Matters lays out an intuitive framework for making sense of international economic and political developments, whether negative (why markets in Argentina collapsed, why Russia stumbled, why U.S. allies Saudi Arabia and Pakistan became sources of international terrorism and instability) or positive (why Singapore and Botswana, to name just two, became unlikely success stories). Investors contemplating buying foreign stocks or bonds or real estate can use the ideas here to analyze the countries in which they might commit time and money. Business executives who are contemplating expanding operations to other countries can use these ideas to determine the likelihood of those countries being politically stable and economically dynamic. Perhaps most importantly, readers should gain an understanding of what transpired in the globalization boom, why things did not work out as planned, and how they might be made to work better in the future.