Monday, January 13, 2025

Political Stability: EMs versus DMs

Where voters don’t want to throw the incumbents out — and why
https://www.ft.com/content/75ece192-7313-4d0c-879a-3b551f4a5d15
The global rebellion against those in power does not extend to the developing world.
Ruchir Sharma:
Hostility to the powers that be in Europe, Japan and the US has been tied in varying degrees to the recent spikes in immigration and prices for staple goods, which are feeding a sense that the system is increasingly rigged and biased against the average person. This is further fueling a long-term decline of public trust in government. But all these forces are less acute or not present at all in many developing democracies, including large ones where incumbent parties have been winning, led by India, Indonesia and Mexico. 

Trump’s threat to US liberal democracy
https://www.ft.com/content/49de4739-6ed8-4b67-a332-1602e89d61a5
We must hope that the American people will not lightly abandon the enlightenment traditions of their country.