MERRY-GO-ROUND BROKE DOWN
by David Woo & Margalit Shinar
July 20 – August 14, 2026 Virtual Book Tour
Synopsis:
A novel of nine linked parables about globalization, ambition, hope, love, and greed spanning two decades and eight countries.
Fall 2008. The Waldorf Astoria New York. Two armed men storm the hotel’s famed bar and hold the occupants hostage: an American corporate raider, a Chinese tycoon, a British hedge fund manager, a Japanese housewife-turned-celebrity, a Mexican undocumented worker, a Wall Street bond salesman, and a Norwegian environmentalist.
Who are these terrorists? What do they want? And what ties them to their captives?
Merry-Go-Round Broke Down is a genre-breaking novel that explores globalization’s “butterfly effect”: how choices made in one corner of the world ignited an unstoppable chain of consequences that upended lives across continents.
Praise for Merry-Go-Round Broke Down:
“What a fantastic tapestry of wordsmithing and storytelling! It left me with a much better understanding of how the world was woven so tightly by globalization, all through the dramatic stories of fascinating cultures and characters that are relevant to this day.”
~ Paul Tudor Jones, Chief Investment Officer of Tudor Investment Corporation
“You might think that it would be impossible to write a novel that helps the reader put her arms around the complex issues raised by globalization. Yet, David Woo and Margalit Shinar have done precisely this. The result is most engaging and insightful. It is also one that even globalization experts such as myself can profit from.”
~ Jagdish Bhagwati, University Professor of economics and law at Columbia University, author of In Defense of Globalization
“Merry-Go-Round Broke Down depicts the key socio-economic developments of the last quarter-century. It brings to life the people who put them into effect, as well as those who were affected by them. Few were untouched.”
~ Howard Marks, the co-founder and co-CEO of Oaktree Capital and international best-selling author of The Most Important Thing
“A timely portrait of a world bound together by the pursuit of profit.”
~ Kirkus Reviews
“An ambitious thriller with rich characterizations and a heart-pounding pace, Merry-Go-Round Broke Down also offers a stark, on-the-ground vision of globalization’s devastation.”
~ Booklife by Publishers Weekly
“David Woo and Margalit Shinar have perfectly illustrated how even a tenuous connection between individuals can have a profound, far-reaching effect across the world that could never have been predicted.”
~ Reader’s Favorite
“Merry-Go-Round Broke Down is a contemporary fiction novel with the propulsion of a financial thriller. It’s fiction, but it wants to explain the world while it entertains you… If you want a story that makes you look up from the page and think, “Wait, is this how it really works?,” then it delivers.”
~ Literary Titan
Merry-Go-Round Broke Down Trailer:
Book Details:
Genre: Financial Thriller
Published by: Regalo Press
Publication Date: March 31, 2026
Number of Pages: 288
ISBN: 9798895655801
Book Links: Amazon | Kindle | Barnes & Noble | BookShop.org | Goodreads | BookBub | Simon & Schuster
Read an excerpt:
Chapter 4
TOMOKO WATANABE
Tokyo, Japan, January–July 2005
“Low interest rates punish savers.” —Bill Gross
THE HOUSE IN KASHIWA, CHIBA Prefecture, southeast of Tokyo, was a two-storied box with aluminum windows and clad in white mosaics. It had a grey-tiled roof and a tiny front garden. The wind was howling outside as Tomoko struggled to get up from her bed. It was six o’clock in the morning and still dark, and everybody in the house was asleep. She was loath to abandon the warmth of the heavy duvet, but today was her husband Akihiro Watanabe’s birthday, and she wanted to surprise him with a special breakfast.
Tomoko shivered as her feet, encased in thick white socks, trod silently on the tatami mat covering the floor. It was cold, even for January, and this was one time she wished there was heating in the bedroom upstairs. She put on her slippers, pulled on a heavy cardigan over her fleece pajamas, and went down to the kitchen.
The kitchen, Tomoko’s kingdom, was small, but she ran it like a tight ship, every utensil and small appliance kept in its assigned place.
She began to prepare her husband’s favorite menu: clam miso soup and omelet rolls. There was smoked fish left over from the previous night, as well as cooked rice.
After turning on the small heater and quickly swallowing a cup of hot tea, she put on her old blue-checked apron and set to work.
Poor Aki, she was thinking, as she removed from the fridge the asari clams she had bought the previous afternoon; he really deserved some cheering up. Only eight months ago he had lost his lifelong employment, the first serious crisis in their marriage of twenty-two years. The electronics company he had given his all to for over thirty years had gone bankrupt after its main customer decided to outsource to China.
She rinsed the clams in cold water, rubbed them clean with a dishcloth, and set them aside to soak in salt water. She then filled a pot with water from the sink and blanched a leaf of kelp. When it had softened, she removed it with chopsticks and then put it back in the pot to boil for a minute or two before taking it out again.
Though Aki had found a new job quickly enough, Tomoko was worried. It not only paid a third less than his previous salary, it was a temporary job, with a contract that had to be renewed every six months. While Tomoko was, by nature, someone who took life’s setbacks with a pragmatic optimism, she felt helpless in the face of the loss of their financial security. As she added dried bonito flakes to the boiling water, she shook her head and pursed her lips at the injustice of it.
When the fish was cooked, she passed the broth through a fine sieve lined with a cloth. Discarding the scum, she sieved it again. And again. Inspecting the liquid for any telltale specks, she repeated the process until she was satisfied the broth was perfectly clear. She now reached out for the clams, soaking in their bath of brine.
Usually, Tomoko loved the ritual fuss of birthdays, especially her husband’s—the shopping for presents, the paper decorations and cards, the candles on the cake—but this year there wasn’t much cause for celebration.
She rinsed the clams and tipped them into the broth. Bringing the liquid to a boil, she skimmed it patiently. Once the clams had opened, she mixed in the miso paste, squeezing it through a small sieve with a spoon. The soup was ready.
Now for the omelets. What was more worrying, she thought, breaking eggs into a bowl with a deft flick of her wrist, was that his pension was gone. And the new job offered no pension at all. The bleakness of their future agitated her as she whisked the eggs with more vigor than necessary and poured them into the frying pan.
The omelets were done. When they had cooled a bit, she rolled them up into narrow, finger-shaped wraps and put them aside. Then she arranged the fillets of cold smoked fish in the middle of a long rectangular plate, which she decorated in one corner with a dollop of daikon radish infused with ponzu sauce. Finally, she heated up the rice and took out some nattō, fermented soybeans, everyone’s favorite.
She looked out the window above the sink. The heavy night darkness was lifting, and she could make out the falling snowflakes and the leafless branches of the cherry tree in their garden bending in the wind. A cold grey light was beginning to infiltrate the kitchen. She switched off the overhead lamp, figuring she could do without it now.
A brown Formica-top table with six chairs stood in a nook just off the kitchen. Poor Aki, she repeated to herself as she began to set it. At the age of fifty-three, there was little chance of his finding steady employment again. Although they never talked about it, she knew that, ashamed and frustrated, her husband was unraveling. His drinking binges had become more frequent, and he had taken to coming home at all hours. He was also becoming moody and short-tempered.
Only last week he had flown off the handle when she told him she was thinking about looking for a part-time job. He wouldn’t hear of it, he had responded angrily. Their son was still at school and needed her. Besides, what would their neighbors think? It was out of the question.
Though Tomoko knew his objections had more to do with his pride, she didn’t bring up the subject again. She vowed to herself she would find another way to help. But how?
Tomoko put down a small flower arrangement, teacups, bowls, and chopstick supports on the table. She had to find a way to help Aki. Whereas she could still take comfort in little things, he had just lost his entire world. She took a moment to align the chopsticks just so. Taking a step back from the table, she viewed the result with satisfaction.
Tomoko glanced at the kitchen clock squeezed between the toaster oven and a shelf. It was seven-thirty and all was ready. Plenty of time left for a leisurely meal before Aki left for the office and their son, Nishio, left for school. What a pity her daughter, Keiko, wasn’t there.
Tomoko brushed that regret away, together with a lock of her permed black hair that had strayed onto her forehead, and stood meekly at the entrance of the kitchen, waiting. She could hear her family coming down the narrow wooden stairs.
She bowed to her husband and her mother-in-law as they appeared, her face faintly flushed from her efforts, her shoulders hunched forward ever so slightly. “Ohayō gozaimasu,” she said, with the politest of greetings.
But Aki only grunted a barely discernible thank-you as he viewed the mini-feast she had prepared and sat down, noisily pushing back his chair.
Then he buried his face in the morning newspaper that Tomoko had laid, neatly folded, to the right of his chopsticks.
He was followed by Nishio. At fifteen, he was a tall and gawky youth, with a few wisps of dark downy hair on his upper lip and chin. He advanced towards the table and sat down in silence. He sat there sullenly, looking down under lowered eyelids, not once making eye contact with his mother. He consumed his soup in a few rapid gulps and hurriedly shoved some rice into his mouth. Then with a curt, barely mumbled good-bye, he got up and was gone.
“Don’t forget your bento box,” Tomoko’s voice rang out after him, “you must eat lunch!”
The third person at the table was Mishimo, Tomoko’s mother-in-law. It was she who owned the house, and after the death of Akihiro’s father some ten years before had given over most of the space to her son’s family, keeping only one room for herself. It was a situation not without friction. She had never liked Tomoko and was of the opinion that her handsome son could have found a better match than the daughter of a taxi driver. Or, at the very least, a prettier one. Though their exchanges were invariably on the right side of civil, Mishimo inevitably found fault with everything Tomoko did. But this morning was different. She spooned down the soup slowly, savoring every sip. “Excellent, Tomoko,” she remarked loudly. “Well done.” A compliment! Tomoko was touched to the bottom of her heart.
She then turned to her husband.
“Anata,” he said, using a Japanese term of endearment. “I hope you’ll be home on time for dinner. I bought a cake for tonight. And there will be eel as a main course.”
Aki didn’t shift his eyes from the newspaper. “No. I’m eating out.
Client dinner. Don’t wait up for me. I’ll be back late.”
If Tomoko was disappointed, she showed no sign of it.
“Akihiro-san. I also bought you a small gift,” she announced timidly. She had bought it out of her personal savings and had hoped to give it to him at the evening meal. She would have to give it to him now instead.
She went to the living room where she had hidden it. Coming back, she bowed respectfully and held out the package in her two open palms like an offering, saying “Happy birthday” in English.
Aki finally deigned to lower the newspaper and stared at the box wrapped in delicately folded bright blue paper, tied with a slender red-and-gold string. He reached out to take it. But instead of opening it, he put it in the pocket of his suit jacket.
“Have to rush now,” he said dismissively.
“It’s the lighter you always wanted,” said Tomoko. But Aki responded with a dead gaze of bitterness at the wall behind her. Suddenly, he jumped up from his chair with such violence that it crashed to the floor.
“Baka! You stupid woman! Kono ama, you bitch!” He exploded in an inexplicable fit of rage.
Tomoko shrank back.
“How many times do I have to tell you not to waste money?” he yelled. “Don’t you see the situation we’re in?”
Without warning, he grabbed the cast-iron teapot from the table. He seemed ready to hurl it straight at her. Tomoko raised her arm to defend herself. He had hit her before, and she thought she knew what to expect.
At the last moment, however, perhaps in response to a whispered word from Mishimo that never reached Tomoko’s ears, he changed the direction of his aim and the heavy pot went flying toward the kitchen. Spurting tea, it smashed loudly into one of the kitchen cabinets.
In the silence that followed, Tomoko couldn’t move. Her heart beat wildly in her chest. But she didn’t say a word. Out of the corner of her eye, she was just in time to catch the expression of icy disapproval on Mishimo’s face.
***
Excerpt from MERRY-GO-ROUND BROKE DOWN by David Woo & Margalit Shinar. Copyright 2026 by David Woo & Margalit Shinar. Reproduced with permission from David Woo & Margalit Shinar. All rights reserved.
David Woo:
David Woo is a renowned global macro strategist, widely recognized for his bold and prescient calls on some of the biggest economic, political, and geopolitical stories over the past quarter century. Bloomberg called him “one of the most outspoken voices on Wall Street,” while Business Insider named him among “the twelve smartest people on Wall Street.” His views have shaped debates across markets, policy circles, and the global media. David began his career at the International Monetary Fund before going on to hold senior positions at Bank of America, Barclays Capital, and Citigroup. He earned a PhD in economics from Columbia University and a bachelor of arts in mathematics from Tufts University. A true product of globalization, David was born in Pittsburgh, raised in Taiwan, and educated in the United States. His career has taken him from Washington DC to London and New York. He is fluent in English, Chinese, and French.
Catch Up With David Woo:
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Margalit Shinar:
Margalit Shinar is an architect. Margalit was born in New York, the daughter of French émigrés. She has a master’s degree in art history from Tufts University and a bachelor of arts in architecture from the Technion, Israel Institute of Technology. She has edited a history book on ancient Israel. She is fluent in English, French, Hebrew, and Italian.
Catch Up With Margalit Shinar:
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Q&A with DAVID WOO & MARGALIT SHINAR
Can you tell us a little about yourself and your background?
David: I am an economist by training. I spent most of my career on Wall Street, where I became known for my out-of-consensus calls on some of the biggest stories over the past 20 years. For what it’s worth, Bloomberg calls me as “one of the most outspoken voices on Wall Street.” Born in Pittsburgh, raised in Taiwan, and now living in Israel, I am a product of globalization, and that experience shapes the way I see the world. I’ve always been drawn to big, ambitious novels about sweeping societal change. It was only after 25 years of researching international finance and economics that I understood the world well enough to embark on my first novel. Giuseppe Tomasi di Lampedusa didn’t start working on The Leopard until he was fifty-eight. Some novels only arrive after you’ve lived them. That’s how I feel about Merry-Go-Round Broke Down.
Margalit: I am an architect by training and a mother of two daughters. Instead of pursuing a career in architecture however, I pursued further study and graduated with an MA in Art History from Tufts University. That is where I met my second husband. I was born in New York to European émigré parents, both intellectuals. What I learned around the dinner table about Western culture was the equivalent of another university degree! French was the language spoken in my home. David and I have been married for 20 years and we live in the foothills of Jerusalem with our 2 standard poodles. I speak fluent English, Hebrew and French, and some Italian
What was the inspiration for this book?
David: Globalization has become one of the most divisive ideas of our time. In many circles, it has become a political scapegoat for rising inequality, economic insecurity, and the resurgence of protectionism. Yet behind these debates are the lives of millions of people whose stories are rarely told.
Merry-Go-Round Broke Down grew out of a desire to tell the story of globalization in a way that anyone could understand and, more importantly, relate to. We chose to write a novel because globalization is ultimately a web of human stories about ambition, hope, greed, luck, and fear. We wanted to show how individual lives, separated by continents and cultures, become bound by forces far beyond their control.
In The Plague, Camus examines how people respond when the world around them begins to break down. We wanted to ask a similar question in the context of globalization: how it shapes our lives, draws us together across borders, and, at times, pulls us apart. Ultimately, the novel is about how ordinary people, each pursuing a better life, unknowingly set in motion a chain reaction that transforms one another’s lives—and, ultimately, the world they share.
How did you come up with the title?
Merry-Go-Round Broke Down was the theme song of the Looney Tunes cartoon series. Written in 1937, during the Great Depression, it evokes a world that has spun out of control—a feeling that resonates strongly today.
When our daughter, Adi, suggested it as the title of our novel, we immediately knew it was the perfect fit. The phrase “Merry-Go-Round” also echoes the 1950 French film La Ronde, based on Arthur Schnitzler’s play, whose circular narrative structure inspired the architecture of our book.
Above all, the title reflects our deepest concern: the world we are leaving to our children and grandchildren. Through this novel, we wanted to explore how the forces that shaped globalization also created many of the challenges they will inherit. To navigate the future, they first need to understand how the world became what it is today.
Can you give us a glimpse into the research that went into writing this story?
There is a reason Merry-Go-Round Broke Down took ten years to write. We devoted the first five years to research, including traveling to every location where the story unfolds. The novel spans ten cities across eight countries, and we wanted each setting to feel as authentic as possible.
From the very beginning, we knew we were attempting something ambitious. We also knew that readers would hold us to a high standard. Our goal was simple: to ensure that every character, every setting, and every moment felt real. We wanted readers to feel as though they were truly there—whether in a factory town in China, on a trading floor in London, or walking the streets of Havana.
Excluding the main character, who is your favorite character from the book, and why?
Margalit: my favorite character is Tyler. He represents the tragic outcome of globalization. I feel for him. He is a decent person who suffers misfortune after misfortune and is helplessly buffeted by huge forces that are beyond his control.
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