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Breakout Nations: In Pursuit of the Next Economic Miracles

4.04  ·  Rating details ·  2,598 ratings  ·  242 reviews
To identify the economic stars of the future we should abandon the habit of extrapolating from the recent past and lumping wildly diverse countries together. We need to remember that sustained economic success is a rare phenomenon.

As an era of easy money and easy growth comes to a close, China in particular will cool down. Other major players including Brazil, Russia, and
Hardcover, 304 pages
Published April 9th 2012 by W. W. Norton Company
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Dec 05, 2012 rated it did not like it
Due to tremendous hype about this book, I read it but I was surprised that it is nothing but some random notes on various economies of the world.

The stories /case studies or concepts mentioned in the book are almost outdated. Anyone who reads a newspaper daily will find this book as a nothing but the bits and pieces collected from the leisurely articles on economics written to fill the boringness of a Sunday.

The chapters on China, India, Russia and Brazil are lack depth and these are totally ou
Rohit Enghakat
Sep 02, 2017 rated it really liked it
Shelves: business
Published in 2012, I picked up the book five years late. This is an extremely well-researched book, giving a general background and in-depth analysis of developing or under-developed economies of the world. Ruchir Sharma is a wealth manager and the chief of one of the biggest fund houses in the world. He has given a first hand account of the economic situation prevalent in select list of countries which he thinks will emerge as winners or losers in the long run over the next decade.

Each chapter
I had started this book with a high expectation. I thought that the book would provide some great insights about the emerging economies and was expecting an analysis of the BRICS nations (Brazil-Russia-India-China-South Africa) but the book contains short articles on countries across the world-from countries in Eastern Europe (Poland, Hungary) to countries in Africa (Nigeria) in addition to the Brics Nations.

The author has discussed the merits and demerits of the country and focused on their res
Professor Bala Subramanian
Nov 05, 2012 rated it it was amazing
This book just won the prestigious Tata Literature First Book Award yesterday (November 4, 2012). The authors shortlisted for this award included Nilanjana Roy (The Wildings), Sudha Shah (The King in Exile), Sudheendra Kulkarni (Music of the Spinning Wheel), Naresh Fernandes (Mahal Foxtrot), Ruchir Sharma (Breakout Nations) and Aman Sethi (A Free Man).

\Germinating from his experiences of having spent one week each month in emerging markets for the past 15 years, “Breakout Nations” takes a penetr
Apr 11, 2012 rated it it was amazing
Shelves: economy
Ever wished that you were there at the beginning of... IBM, Apple, Google, Twitter, green technology ect... This book helps you look ahead and gives you informative speculation on the next BRIC emerging market. Worthy read, and easy to understand from the novice to the ubber economist or the savy investor.
Anil Swarup
Jun 19, 2012 rated it really liked it
It is a reality check on the euphoria that surrounds the emerging economies. Extremely well articulated and written in simple language even to make sense to those that do not understand the nuances of economic development. What it reveals about countries like China and India is nothing new but is presented in a manner that it appears to be convincing. Only time will tell whether what has been predicted will come true but the book makes a very interesting reading.
Samantak Bhadra
Apr 19, 2013 rated it it was amazing
Economics has always possessed that characteristic indigestible and toxic charm which renders the study or dissection of any topic, even remotely associated with it, an intensely grey-cell-intensive expedition. This is where Ruchir Sharma’s book barges in through the gates of the mighty impenetrable bastion and brings with it a deluge of fresh air. The very first element that catches the reader’s attention is the ingenious and yet simple compartmentalization of different countries and geographic ...more
Parth Agrawal
Jun 21, 2017 rated it it was amazing
Life changing book it was!! Guys I generally say this at the end that how fruitful will it be for you to read this blah blah. But I couldn't help but to start with this as I don't want to prove it to you how good a book this is. I just want to declare this and you can take my word, once you are through, even you won't ask for proof.
This is the second book I've read of Mr Ruchir Sharma and that completes both the books written by him. I would suggest that the books should be read in sequence as
Jun 28, 2017 rated it really liked it
Ruchir is a stone cold pimp. He is head of emerging markets for Morgan Stanley and speaks so clearly and with energy (He is interviewed on Bloomberg sometimes). He is very direct and doesn't muck up his explanations. I read his latest book "The Rise and Fall of Nations" and it is one of my favorites. This book proved to be a great refresher on the nations that have the necessary requirements for growth, or the recipe for failure. His second book builds on this first one and ties his thoughts tog ...more
Mar 04, 2018 rated it liked it
The theme of this book is one close to my heart - to try and identify the next big winners on the global stage. The growth stories of South Korea, Taiwan, Singapore, and (partly) China are deeply inspirational ones for anyone interested in the genesis and drivers of lasting economic success. Sharma attempts to identify the next set of winners from the current crop of emerging and frontier markets.

One has to give credit to the author for identifying the temporary nature of commodity booms - this
Rishi Prakash
Oct 31, 2012 rated it really liked it
These days, we keep seeing numerous books on emerging economies at regular interval. These are mostly written by Americans. Of late, some Indians who have made it big in the United States have also jumped into the book-writing business. Morgan Stanley's top executive Ruchir Sharma's book 'Breakout Nations' stands out in this clutter of books. It is one of the most fascinating books on the world's new economies.

I have come across very few guys who have original thoughts when it comes to writing
A Man Called Ove
Feb 09, 2015 rated it it was amazing
Scanning non-fiction shelves esp on contemporary politics/economics by Indian authors scares me. A lot of them r superficial cozy-reads by journalists with minimal research and recycled material.
This though is a joyride by d head of 'emerging markets' at Morgan Stanley. A sort of economics travelogue that reminded me of 'Boomerang' by Michael Lewis and 'The Quest' by Yergin. The author analyses the economy of 15-20 countries and their prospects of growth, providing needed history and culture. So
Rahul Gautam
May 16, 2013 rated it it was ok
The book is just a summary of the key factors driving the growth of key emerging markets in the world. While the author has tried to challenge the conventional wisdom of economists about emerging markets, he himself has not been able to come up with sufficient arguments to support his conclusions. There are few generic comments regarding business and commodity cycles which are driven by intuition rather than by hard numbers and facts. For example, the author mentions that the commodity cycle of ...more
Shrey Goyal
May 18, 2013 rated it really liked it
The most concise, non-spin-doctored, insightful guide to the new economic landscape. Completely changed the way I look at the whole 'emerging markets' phenomenon. ...more
Ajay Palekar
Dec 25, 2018 rated it it was ok
Predicting the next economic miracle ... this is the quest of any budding investor or follower of world economics. What is Ruchir Sharma's prediction?

To be honest his answer is far less interesting than the framework and methodology he uses to follow and understand the trends and the conventional and very flawed logic and wisdom he spouts as he explains it.

Take one of his claims, "The suppressed Chinese consumer is a myth" he then cites the high consumption of Rolls Royces, Louis Vutton purses,
Vivek Kumar
May 16, 2017 rated it it was amazing  ·  review of another edition
The book was written in 2011 and as the name suggests, it has made many macroeconomic predictions. Many of these predictions have been spot on. But the best thing about the book is that it links political system with the economic development. If you want to have an idea of the developing world, this is the book for you.
Akash Khandelwal
Mar 23, 2019 rated it really liked it  ·  review of another edition
Taking examples of both developed and developing nations, this well researched book covers how their economies are likely to shape up. Although it has become silightly outdated (publish year : 2012), still does a very good job highlighting how policymaking can be a leading indicator whether a nation is likely to breakout in the next decade.
Apr 29, 2019 rated it liked it
Shelves: 2019
This book is meant for someone who has been in the business/finance world for a while and wants to learn a bit more about emerging markets. It is very difficult to read for someone who is new to the business/finance world.
Priyanka Maheshwari
May 03, 2020 rated it it was amazing
A book that has been written based on the past but is surprisingly relevant at this point. We can actually see every piece of the puzzle fall into place in the current global scenario.
Simple Amazing!
Nishchal Kumar
Aug 01, 2020 rated it it was amazing
A very well researched book on the economic conditions, growth opportunities and the trend to become amongst the present developing nations to become the next economic miracle. The book gives a very good economic condition, political system and governance and growth scenario in most of the leading world's developing countries. ...more
M.R. Raghu
May 21, 2018 rated it it was amazing
Excellent take on emerging countries and frontier markets. The writing style is engaging and research backed information on some of the countries are eye opening. A must read for any emerging market investor.
Virat hooda
Feb 10, 2017 rated it liked it
Shelves: indian-authors
True Wonderer
Economics ,is a fascinating study, to which i got acquainted quite late in life but it turned out to be one of those things that you instantly like(Specially Macroeconomics) and are surprised by the fact that you didn't come across them sooner. Ruchir Sharma has managed to do the impossible with Economics in this book, he has kept the brush strokes broad enough that a layman could understand and appreciate the overall picture & he has kept the same strokes fine enough in places so t
There's a certain gravitas to Ruchir Sharma's work. He writes with authority and quite some severity, both born out of experience as well as a natural inclination towards serious writing. This book is his second on my shelf, albeit one which comes chronologically before the other I've read. Since I read this a while ago, a detailed critique is not forthcoming.

This book is a shapshot of his views from 2011. It is neither optimistic nor pessimistic. It just it. Sharma tries to do justice to everyt
Jun 26, 2012 rated it it was amazing
This book is a breath-taking journey of the economic 'juggernauts' of the present times.Written by a reputed investor, it provides us with the insight of how the people , inside the industry, perceive the countries in which they plan to invest.

Written in lucid manner, it explains why a nation can or can not ce a 'break-out' nation, an expression for nations which can project high economic growth in the foreseeable future. The author focuses on the 'emerging' nations with rules and regulation i
Rahul  Adusumilli
Feb 12, 2014 rated it really liked it
Shelves: economics
Featuring chapters on countries like India, China, Russia, Turkey, South Africa, Mexico, Brazil, and regions like Africa, Middle East, Central Europe, South East Asia, this books lists out the varying factors at play in various developing economies.

One thing that strikes out is how woeful India's per capita income is, in comparison to even these countries, and how all the talk about us being an upcoming superpower is pure hogwash.

America and the developed countries make an appearance towards th
Oct 17, 2012 rated it really liked it
Shelves: own, economy-finance
It's a summary of major events, policies and strategies which made breakout economies the heroes of the new world order, particularly in post-2008 crisis world. For someone looking to know how and why BRICS flourished in last decade but are floundering now, the book is from one of the most important stakeholders. The language is fluid and is full of observations based on history and recent observations rather than too much data. One may always argue that a good historian can rewrite history and ...more
Siddharth Sharma
Jul 23, 2012 rated it really liked it
It's enlightening and the coverage for analysis is extensive. It throws light on countries all over the world, capable of projecting strong growth within years to come, explores possible 'breakout' nations and attempts to remove myths surrounding the BRICS group. To me, a science student with new found interests in economics, it's a book that has given a lot of ideas and views. Being no expert, I cant comment on their accuracy, nonetheless, the arguments were logical and appealing. A world view ...more
Ranjeev Dubey
Jun 12, 2012 rated it liked it
Ruchir Sharma is the master of his subject and anything he says is worth hearing whatever your view of it.

I thought he knew the price of everything without necessarily its value. The book was high speed data with debatable conclusions; the kind of thing you would do in an investor's meet or a board meeting to intimidate everyone into doing exactly what you want.

But that said, everyone who cares about this subject should read this book. I am glad I read it.
Anshul Kaushik
Aug 05, 2012 rated it it was amazing
Ruchir has given its best shot by depicting Race for greatest economy , As an envoy of change he picked up mostly every developing nation and few developed nations to compare and contrast different aspects of progress related to economy. He started each new country by touching its freedom movement and some cardinal past events and than gradually Connects them to the contemporary situation. Overall a good book to get a glimpse of working economies...
Anil Kagal
Jul 12, 2012 rated it really liked it
The book is easy to read but one wonders whether it is possible to make sense of something as complex as India or Russia by visiting the country for two weeks, talking to a few people and writing a small chapter on it. For lay people with little time it makes an excellent read and gives one the feeling of being "well informed" but is this gross oversimplification? ...more
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Mr. Ruchir Sharma is a Managing Director, Head of global emerging markets equity team, Portfolio Manager, and Member of global tactical asset allocation investment committee at Morgan Stanley Investment Management Inc. Mr. Sharma is also a Managing Director at Morgan Stanley Investment Management Limited. He is also a Portfolio Manager at Van Kampen Asset Management. Mr. Sharma joined the firm in ...more

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