Market Unbound

A road map for the future of the world market
"Bryan has emerged as an influential voice on regulatory issues. "--The New York Times
The world is on the verge of the most sweeping economic changes since the Industrial Revolution. National economies are transforming from government-controlled market systems into an open international marketplace under no one's control. The consequences will be both exhilarating and terrifying. Market Unbound is the first compelling blueprint for adapting to this new global market.
According to McKinsey and Company authors Lowell Bryan and Diana Farrell, this revolution will have a profound effect on all sectors of business and finance. The global economic scene has already undergone profound and irreversible changes, but most of the transformation still lies ahead of us. Those who learn to operate under the new system will have the opportunity for tremendous profit. Those who don't face the specter of catastrophic loss.
Market Unbound outlines how the global market came into being and why it is so powerful, and why it is so rapidly accelerating the globalization of the world's entire economy. The authors explore the implications of this evolving market force and examine the consequences and the opportunities for governments, investors, corporations, and financial organizations. Market Unbound is a must read for anyone who hopes to thrive or even survive into the 21st century.
* Based on extensive research conducted at McKinsey &Co--the world's premiere consulting firm
* Case studies and relevant examples illustrate the patterns of market change currently taking place
* Reveals how a government's ability to exercise control over its own financial system is being undermined by the global capital market
LOWELL BRYAN and DIANA FARRELL (New York, New York) are consultants at McKinsey & Co. He is the author of three previous business books and a leading authority on financial regulatory issues and global capital markets. She led the research efforts underpinning the book's conclusions. Global Capital Revolution.

MARKET UNBOUND.

Market Unbound.

Hunting for Woolly Mammoths.

Trees Don't Grow in the Sky.

Approaching Absolute Zero.

UNLEASHING GLOBAL CAPITALISM.

Prosperity or Devastation?

Superconductivity.

Heroes to Lead Us (Not Politicians).

CAPTURING THE OPPORTUNITY.

The Unfettered, Unrelenting Search for Profit.

Leading a Corporation in a Superconductive World.

Buy Stocks, Shun Bonds.

Stop Worrying and Learn to Love the Market.

About the Authors.

Index. LOWELL BRYAN and DIANA FARRELL are senior consultants at McKinsey & Company, Inc. He is the author of three previous business books, and a leading authority on both financial and regulatory issues, and the global capital market. She led the research that is the foundation of this book. The profit opportunities available today in the global capital markets are so large, and the capital seeking those opportunities is so vast and so highly mobile, that we are entering into an entirely new era of capitalism. The process of globalization has been going on gradually for decades, but the world's capital markets have now reached critical mass. They are poised to fuse into a single global capital market, and we are about to enter into an era of explosive growth as a result. Market Unbound is the first book to provide a dynamic blueprint of this challenging new global market. Authors Lowell Bryan and Diana Farrell of McKinsey & Company, Inc., explore the enormous effect this revolution will have on governments, corporations, and individual investors. Although the global economy has already undergone major-and irreversible-change, the transformations yet to come promise the most significant economic developments since the Industrial Revolution. In the uncertain future, one thing is clear: the global capital market is increasingly dictating the actions and policies of governments, as opposed to governments dictating the actions and policies of the market. There is, without question, the promise of great prosperity, as rapid growth takes hold in both the developed and underdeveloped world. However, there is also potential for disaster if economic evolution breeds turmoil and social unrest, as companies-and nations-either succumb or succeed in the new global marketplace. Based on extensive research conducted by McKinsey & Company, Inc., the world's premier consulting firm Market Unbound: Explores and defines the dynamic impact the converging markets will have on every sector of society Examines how the foreign exchange and bond markets are integrating to the point where they are fundamentally acting as one Explains how to seek profit and avoid loss in the impending economic climate Reveals how a government's ability to exercise control over its own financial system is being undermined by the global capital market As the global capital market continues to mature, those who adapt to new rules will find the opportunity for tremendous gain; those who don't face catastrophic loss. This invaluable book is must reading for every investor, economist, banker, policymaker, and international businessperson. Two Top McKinsey & Company Consultants Take a Look at the Future of Our Markets "The world is changing so significantly that competing in the near future will be very different from the way it has been in the recent past. Extraordinary changes are occurring in the financial markets and in the underlying reed economy and this new emerging economic structure inevitably will change how companies compete in a very fundamental way. ...I know of no book that so clearly lays the intellectual foundation necessary to understand what has happened, what is happening, and what will happen." -from the Foreword by Ted W. Hall McKinsey Global Institute Our world is on the brink of the most dramatic economic change since the Industrial Revolution. Market Unbound is a sweeping account of the emerging global marketplace. In this new world order, discrete national economies will become a historical notion. As developed and developing countries integrate into a single, powerful economy, governments, businesses, and investors face the dual possibilities of extraordinary gains and terrifying losses. Providing a unique combination of economic and managerial perspectives, authors Lowell Bryan and Diana Farrell of McKinsey & Company, Inc., deliver cutting edge insights into the workings of the global economy. No business that is serious about remaining competitive into the twenty-first century can afford to ignore the compelling evidence that challenges our current conception of economic reality. A road map for a radically changed economic environment, Market Unbound is required reading for anyone who hopes to prosper in the coming century.