Why Wall Street Loves Strongmen
Ruchir Sharma, Morgan Stanley’s Chief Global Strategist,
notes:
“The harsh reality is that markets are amoral, instinctively
neutral barometers of economic performance, and they will at times ignore the
brutality and excesses of strongmen for a simple reason: Facing little or no
resistance from legislatures, courts or independent watchdogs, strongmen can
push through sweeping reforms — particularly in emerging economies, where
political institutions and the rule of law are relatively weak.”