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The pendulum swings right: A pushback against liberal, progressive, interventionist economics

Tong Kooi Ong & Asia Analytica
Tong Kooi Ong & Asia Analytica • 16 min read
The pendulum swings right: A pushback against liberal, progressive, interventionist economics
The Absolute Returns Portfolio also gained last week, up 2% and lifting total returns since inception to 17.1%. Photo Credit: Bloomberg
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The biggest news that reverberated around the world last week was with out a doubt the US presidential election, in which former president Donald Trump won. And won convincingly — with a strong mandate to govern, as Republicans are now also in control of the Senate and likely the House of Representatives (control had yet to be determined at the point of writing but it was tilting towards Republican). The US has shifted hard right.

Perhaps we should not have been surprised at all. All year, we have seen strong anti-incumbent sentiment in elections held around the world because of unhappiness over work and business opportunities, inflation surge and cost of living attributed primarily to pandemic disruptions. But a clear shift towards the far right has been unfolding for far longer, driven by more deep-seated issues.

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