The World's Worst Bet

""A painfully convincing history of how both political parties decided that worldwide free trade was a good thing.... It's a discouraging story skillfully told by Lynch, global economics correspondent for the Washington Post.""--Kirkus ""How did we get globalization so wrong? In The World's Worst Bet, David Lynch explores how America embraced a model of globalization that hollowed out our industrial base, enabled China's rise, and set the stage for a destabilizing political backlash at home. The World's Worst Bet is essential reading for understanding the structure of the world economy and the shape of our politics.""--Chris Miller, New York Times-bestselling author of Chip War ""Lynch has given us a singularly--thrillingly--persuasive chronicle of globalization's spectacular rise and fall. He not only explains the unwinding of a promise but also offers a vital warning about the next great upheavals in the global economy. Without a fair, humane commitment to the least fortunate, we may find that Lynch's piercingly clear history is, in fact, a prophecy.""--Evan Osnos, National Book Award-winning author of Age of Ambition ""The era of hyper-globalization is ceding to hyper-nationalism because America's elites failed to help its losers. Grasping how and why the US has swung from Clinton to Trump in such short order takes an experienced, wise and deeply probing reporter like David Lynch. Journalists of Lynch's caliber are a rare thing. Read him on why Trump's cure is worse than the disease but can be fixed only if we grasp how we created this mess in the first place. An important book.""--Edward Luce, commentator and columnist, Financial Times ""A fascinating and sobering assessment of globalization. David Lynch built his career through careful investigations around the world, enabling him to combine first-hand observation with careful economic analysis. What has gone wrong with the world's trading system? Are we facing a temporary disruption to what will ultimately prove to be an unstoppable process of economic and financial integration? Or is today the start of a deeper roll-back and a retreat into... what exactly? There are no easy answers, but Lynch offers an insightful and honest perspective. Anyone who seeks prosperity in the global economy of tomorrow should read this book.""--Simon Johnson, winner of the Nobel Prize in Economics