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An
outstanding book was just released about the rising nations of Asia.
Now, I
may be a bit biased because I already know of and respect the work of a
couple of the book's authors (it was co-written by three: Yiannis Mostrous,
Elliott Gue and Ivan Martchev, editors of the Silk Road Investor, Energy
Strategist and Global Viewpoints newsletters, respectively).
I've
also found that what I've come to respect the most over time is balance. My
commentaries sometimes stir the pot a bit because I'll rail against arguments
from those I perceive to be stopped clocks; recently I've tended to call out
perma-bears, but I feel the same way about those who can never seem to
envision anything but sunny skies for the economy and markets, folks who have
historically been mainstream Wall Street strategists.
What I
prize most in other commentators is a little nuance and a willingness to
re-examine and change one's opinions when called for. It's just my personal
preference.
This
is why I think so highly of "The Silk Road to Riches: How you can Profit
by Investing in Asia's Newfound Prosperity," just released by Financial
Times Prentice Hall publishing.
With
their expertise in energy and international markets, do the authors
acknowledge the strains the rising Asian economies are putting on the world's
natural resources? Of course. They don't, however, go on to fill pages with
horror stories about how oil will soon run so dry that not only will nations
go to war, but neighbor will fight neighbor in a frantic battle for every
drop, as at least one peak oil book has literally predicted.
Do
they assert that within a generation China will become the world's largest
economy? Indeed, yet the authors are reasonable enough to also recognize that
for now, the nation is still reliant on U.S. consumption and would be
dramatically impacted by a meaningful consumer slowdown here, as opposed to
some who suggest that if U.S. consumption went south, the Chinese wouldn't
skip a beat, they'd simply start consuming all their output themselves. With
an under-developed banking system and virtually non-existent credit markets,
such an assertion is just plain silly at present.
Broadly
speaking, the authors recognize today's enormous economic imbalances and the
potential threat to the U.S. Dollar as the world works toward a new global
pecking order, economically. Although China ends up at the top of the list in
time, the authors allow for a number of possible paths that get us there;
unstable as the path may be at times, it isn't doom and gloom we're promised
as a result. This book sees the emergence of Asia broadly speaking as a
positive for East and West alike, which is refreshing.
And
I'm not the only one who thinks so. The book is quickly receiving high
praise, including from the likes of Dr. Marc Faber, who says,
"Finally...a book that combines serious analysis with specific
investment recommendations... about the world's largest and most powerful economies."
Well
said. The Silk Road to Riches is the perfect book for these most interesting
economic times in which we live.
**Many
investors who are wary of U.S. markets are looking abroad for opportunities.
For an exclusive, in-depth report on the most important Asian economies, be
sure to download our exclusive, free report on China, India and Japan here: http://www.deltaga.com/reportForm.asp?rep=3.
Chip
Hanlon
President, Delta Global Advisors, Inc.
19051 Goldenwest,
#106-116 Huntington Beach, CA 92648 Phone: 800-485-1220
Fax: 800-485-1225 www.deltaga.com
A widely-followed
market commentator, Mr. Hanlon served as the C.O.O at Euro Pacific Capital
prior to taking the reigns at Delta Global. He had previously been the
President of Unfunds, Inc. and spent 7 years prior with Sutro & Company
as a Vice President and the company's Los Angeles Director of Syndicate
Offerings.
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