One of my highlights of 2024 so far has been being "stuck" in the fortified basement of a #Kyiv hotel for a late-night panel discussion on autocracy versus liberal democracy, in the midst of one of #Russia's regular drone raids on the historic #Ukrainian capital, during the Yalta European Strategy (YES) summit hosted by #VictorPinchuk. It was a privilege to witness a debate involving historians Anne Applebaum and Timothy Snyder, CNN host Fareed Zakaria and political scientist Francis Fukuyama, author of the famous 'End of History' essay. This got me thinking about how the investment world was also focused on two different blocs: an 'adversarial' cohort of countries including China, Russia and Iran, which most players are shunning; and a more liberal grouping led by the US and Europe, including Japan and various southeast Asian economies. Most of the global south seems to trade and invest with both blocs. But the election of #DonaldTrump appears to have swept away some of these previous certainties. Here is my Professional Wealth Management (PWM) piece, inspired by Ukraine's brave resistance against #Putin's brutal invasion and attempts to redraw the international order, with excellent analysis from Carmignac, Didier Duret from Omega Asset Management, Belinda Aspinall at Northern Trust, Timothy Ash from RBC BlueBay Asset Management - one of few economists to predict #Russia's invasion and its global fallout https://lnkd.in/e2NunKgi
honestly, I do not not how Fukuyama can even keep living with himself after what he has done to Ukrainians. it was Fukuyama, who convinced Western leaders back in 1990s (yes, I am old enough to remember), that liberal world order won and history has ended its course. based on this the U.S. had only one problem after the USSR fall -- nuclear proliferation... which resulted in disarming Ukraine and sending our nukes to russia. and now here we are... 100 000s Ukrainians paid with their lives for the "mistaken view" of this public "intellectual". and we do not know how many more will pay in the future... dear Mr. Francis Fukuyama, how do you live with yourself after all that? how do you even dare to keep living, Sir? don't you have a smidge of a decency left? did you forget an ancient and noble Japanese art of seppuku?
Now Independent and Former Global CIO PB of ABN AMRO 30 years experience in investment management -INSEAD
3moGreat insights on the most difficult topic for 2025.