Almost any event can increase a trader, investor, or lender's cross-border risk. An unexpected resignation, a terrorist act, or a currency collapse can completely transform the political and economic landscape of a country, a region, or the world. Since the advent of globalization, politics and economics have been forever entwined, sometimes resulting in calamitous outcomes. One of the disadvantages of globalization and instant communications is that the impact of such change is felt instantaneously. Today there is less time to react before someone else does; we may be sleeping while others are reacting. Perhaps the impact of localized economic and political events would not be so dramatic if the international marketplace were not so interconnected - if currency and stock trading did not occur and information was not broadcast 24 hours per day.
This book is all about how to identify and manage the plethora of risks associated with conducting business abroad - and how to think outside the box to be able to anticipate the impact of change on business operations. Effective country risk management is all about combining the right information with the right tools, instincts and response to identify, avoid, and manage cross-border risks. Daniel Wagner shares with you the things he has learned over a quarter century of analyzing and managing country risk for some of the world's best known corporations and international organizations.
By listening to this book, you will come to know more about country risk management than virtually all of your peers. You will also be able to add value to the risk management processes in your organization, even if you are not formally part of a risk management unit. If doing so helps your organization become smarter about how it does business abroad and enhances its ability to make profit, all the better, because in the process it will be contributing to development, job creation and improving the lives of people around the world.
Really enjoyed the mix of practical examples and high level concepts addressed in the book. Helpful knowledge in developing further understanding on best ways to approach working in new geographies.
What could have made this a 4 or 5-star listening experience for you?
Too opinionated and ethnocentric. You doubt the data as it makes very broad assertions. Very right wing comments with rosy language.
What was most disappointing about Daniel Wagner’s story?
Too quick to make opinions with catchy buzzwords
What does Joseph R. Durika bring to the story that you wouldn’t experience if you just read the book?
The reading is good. Had it not been for the quality reading I would have never havery finished the book.
If you could play editor, what scene or scenes would you have cut from Managing Country Risk?
Drop the second half. The first half is more technical and less anecdotal. It has no idea that the US was once a very amateur power and in many ways it remains. Very pro Monroe Doctrine.
Any additional comments?
Read with lots of patience. I do not recommend for beginners in international relations. There are some good elements to be cherry picked.
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