What will the rise of the autocrats do to your portfolio?

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Occasionally an article pops up that defines an era. Today we get such from Gideon Rachman at the FT:

From Moscow to Manila, Beijing to Budapest, Ankara to Delhi, the nationalist “strongman” leader is back in fashion. If the US elects Donald Trump next week, it would be following an international trend, not leading it.

The fascination with strongmen spans autocracies and democracies. China last week took a further dangerous step down the road to personalised autocracy when it announced that President Xi Jinping now represents the “core leadership” of the Communist party, a title with Maoist overtones. President Xi has just played host to Rodrigo Duterte, president of the Philippines, who came to power through an election but whose swaggering style and scant respect for the law is typical of the new breed of autocrats. The patron saint of the world’s strongman leaders is Vladimir Putin of Russia, whose personalised rule still retains some of the outward trappings of democracy.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.