THE KIMCHI MATTERS: Global Business and Local Politics in a Crisis-Driven World

"All politics is local," former House Speaker Tip O'Neill once famously remarked, and the adage holds true for economics as well, even in the era of globalization. In a world where local markets are increasingly interconnected, events in one small country can easily snowball to have a worldwide impact. Using kimchi, the flavorful Korean pickle, as a metaphor for unique regional sociocultural conditions, this trio of political analysts (Zonis runs the risk consulting firm where Lefkowitz works, while Wilkin works on similar projects for other clients) reminds readers that while powerful corporations may be able to plant their flags around the world, they still need to deal with the locals. Factors like political corruption or ethnic conflicts can undermine a country's chances for prosperity, the analysts say, but they can be countered by strong leadership and stable institutions. In order to "do globalization better," business leaders need to recognize the importance of local political dynamics. Other than suggesting that there isn't a single approach that will work for all countries, the book doesn't offer much advice; what it does provide are dozens of textual snapshots of various regional hot spots, primarily from often overlooked corners of Asia, Africa and South America (where, unfortunately, the overused kimchi references quickly grow old). Readers with geopolitical experience may find the analysis redundant and superficial, while the financially inclined may want more concrete answers to their concerns, but the three authors do a reasonable job of providing the big picture on this complex issue. (Nov. 7)

Forecasts: Agate is backing this book with a 15,000-copy first printing and supporting it with blurbs from Ted Koppel and Gen. Wesley Clark.