Contents -- Foreword -- About the Book -- About the Author -- Preface and Acknowledgements -- Overview of The Global Economy in Transition: Debt and Resource Scarcities -- Part I The Global System -- Introduction to Part I -- China's Effort to Redefine Corporate Governance -- CONCLUSION -- Welcome to the Age of Angst -- THE GOOD OLD DAYS -- A STAGNATING WORLD -- FAILURE TO DELIVER -- Wikileaks and Consequences for Modern Diplomacy -- WIKILEAKS AND RAISON D'ÉTAT -- SECRET VERSUS NON-SECRET DIPLOMACY -- WHAT DID WIKILEAKS TELL US? -- THE FUTURE OF DIPLOMACY -- CONCLUSION -- References -- The Deadly Cocktail -- NATIONALISM -- POPULISM -- INEQUALITIES -- THE CLASH -- CONCLUSION AND SUGGESTIONS -- Private Gain, Public Loss -- Making Profit at the Cost of Society's Interest -- Conventional Economic Theory - A Critique Highlighting Flaws in American Style Capitalism -- INTRODUCTION -- WHY DO WE QUESTION THE AMERICAN STYLE CAPITALISM? -- WORLD OF PLENTY -- SCARCITIES AND BURDEN SHARING -- HOMO OECONOMICUS -- INTERDISCIPLINARY ANALYSIS -- SOCIAL COSTS -- Social Transaction Costs -- Social Opportunity Costs -- Net Social Costs of Economic Transactions -- PRODUCTION THEORY -- CONSUMPTION THEORY -- COMPETITION? -- GLOBAL ECONOMICS -- CONCLUSION -- REFERENCES -- Part II Scarcities - New Economic Thinking -- Introduction to Part II -- Key Events Driving the Future of Chinese Economy -- "BOTH" INSTEAD OF "EITHER-OR" -- LESS INDIVIDUALISM, MORE COLLECTIVISM -- Saving Resources with a Tax on their Total Use -- Want a Way Out of the Recession? Create Jobs by Saving Resources -- ENORMOUS SOCIETAL COST -- COHERENT POLICY FRAMEWORK -- The Era of Scarcities -- HOW DO WE COPE WITH THIS CHALLENGE? -- Food Scarcity -- Energy Looks the Same -- A Clean Environment is the Fifth Scarcity -- Can It Be Done? -- Asia Redraws the Map of Progress.

ASIAN DEMOGRAPHY AND THE NEW ECONOMIC MODEL -- TRENDS IN TECHNOLOGY AND EDUCATION -- MATCHING EDUCATION TO NATIONAL NEEDS -- FIVE SCARCITIES: FOOD, COMMODITIES, ENERGY, WATER, AND A CLEAN ENVIRONMENT -- FORCES THREATENING ASIA'S FUTURE -- A NEW PARADIGM FOR GROWTH -- Tax on Commodity Profits Could Postpone Scarcity -- Part III Debt -- Introduction to Part III -- The Way Out of the Debt Trap -- BURDEN OF ADJUSTMENT -- BLESSING IN DISGUISE -- Global Debt Picture Not Very Pretty -- UNDIGESTED LESSON -- DYSFUNCTIONAL U.S. -- Inflation or Deflation? Both! -- U.S. More Worrying than Europe -- Why Debt Does Not Go Away -- CONSUMER SENTIMENT -- BITING THE BULLET -- Global Economy Faces Wealth Redistribution -- UNCHARTED WATERS -- Has the Fed Got it Wrong Again? -- The Markets Prey on Debt-Laden Nations -- Nationalism or Capitalism? Sovereign Wealth Funds of Non-OECD Countries -- INTRODUCTION -- THE FIGURES -- THE EUROPEAN REACTION -- EU/OECD SWFS -- WHAT MAKES AN SWF INVESTMENT DIFFERENT FROM OTHER INWARD FDI? -- Defensive Actions -- SWF - Risk-Taking Profile -- SWFs - Points of Concern and Answers -- SWFs - Perceived Impacts -- CONCLUSION -- ACKNOWLEDGEMENTS -- REFERENCES -- Agonising Wait for U.S. Economy to Rebalance -- Get Out While you Can -- U.S. Recession: Spend Now, Save Later -- Part IV The Euro-zone -- Introduction to Part IV -- Lessons Asia Can Learn from Europe -- Europe, Not Euro, May Break Apart -- Now Comes the Hard Part for the Euro-zone -- Why the Euro will Survive -- COMPETITIVENESS GAP -- In Europe, North Battles South -- Europe After the Debt Crisis -- Painful Euro Crisis and Lessons for the World -- The Euro-zone Fights for Survival -- Part V Asia in the Global Economy -- Introduction to Part V -- Economic Integration - The Future for Asia -- From Asian Financial Crisis to the Western Debt Crisis.

The Asian Supply Chain Becomes More Compact -- What Makes S'pore Different -- THE GLOBAL COMPETITION -- MEGA-CITIES, MEGA-REGIONS -- Lessons for Asia from the Global Financial Crisis -- How Will Southeast Asia Position Itself in Asia's Future in an Age of Scarcities? -- GLOBAL GROWTH -- DEMOGRAPHY -- Demographically Asia Faces Several Challenges -- URBANIZATION -- THE ERA OF SCARCITIES -- IMPACT OF SCARCITIES -- WINNERS AND LOSERS -- CONCLUSION -- How Can ASEAN Stay Relevant? -- Asia Faces U.S. Default on its Sovereign Debt -- U.S. and China May Move to Cap Military Spending -- China to the Rescue: Growing Out of the Financial Crisis -- How the U.S. and Asia Can Help Each Other -- Postscript to The Global Economy in Transition: Debt and Resource Scarcities.