The book, in its 2nd edition, adds on the significant and momentous changes in development policy and studies that have taken place since 2001. The rise of Asia and newly industrialized countries is one of the key topics of the book. It also analyses the weakening trends of neoliberalism and the American hegemony whose style of capitalism is crumbling from its own excesses. The twenty-first century has brought about a new chapter in globalization with the UN setting its key development goals bringing in development to many more regions in the world. The rise of BRIC nations has significantly reduced the power of the Anglo-American nexus resulting in a growth of south-south relations in trade, energy and politics. The emerging countries culminating in the economic crisis of 2008 has seen a shift in pendulum towards better regulations and influenced the development of these countries.