Democrats obviously performed very well in the US midterm elections. More importantly, they now appear to have a clear path to regain the White House in two years, if they pick their battles wisely.
They will now face a familiar dilemma. Do they embrace their ideological impulses and reward their base by shifting radically to the left, or do they make the compromises necessary to ensure that they remain a “big tent” grouping that can appeal to moderates − and even some conservatives − and therefore win nationally?
If they can resist being co-opted by an angry base, their chances of regaining the White House in 2020 are starting to look quite strong.
While the initial results on election night caused many who were hoping for a "blue wave" repudiation of President Donald Trump to feel disappointed, in fact Democratic gains are very much in "wave" territory.
With the final results still coming in, they appear on track to have gained at least 35 seats, an impressive performance by almost any standards.
Republicans may increase their Senate majority by one or two votes, but given the extremely disadvantageous Senate election map they faced this year, Democrats actually did well to hold their losses to such a limited level.
Indeed, given the large number of seats they had to defend in states that voted enthusiastically for Mr Trump two years ago, it’s remarkable they didn't lose more.
But looking forward to the 2020 effort to regain the White House, particularly given that Americans have a solid pattern in recent decades of re-electing even decidedly mediocre sitting presidents, the party has to be concerned.
Mr Trump has a firm hold on his own base, strong support in many rural and exurban areas, which are disproportionately powerful in the presidential electoral college, and, at least as things stand now, can certainly try to take credit for a strong economy.
Democrats are mesmerised by their inroads in several traditionally conservative “red” states, such as Georgia and Texas, where they narrowly lost hotly contested elections. The idea of an African-American woman winning the election for governor of Georgia, as Stacy Abrams nearly did, was deeply inspiring to many Democrats.
“Flipping” traditionally Republican red states across the South and the Bible Belt is extremely appealing emotionally.
However, the crucial fact is that Democrats don’t need to perform such relative political miracles in order to retake the White House in 2020, although they certainly could.
As the noted political commentator William Galston has pointed out, there is a much simpler and more logical path for the Democrats in the next election. Three Midwestern states that have frequently voted Democratic in the past are the key.
Begin with the assumption that Democrats can hold onto all the states that Hillary Clinton carried in 2016. Mr Trump and the Republicans don’t seem to be increasingly competitive in any of them at this stage.
Even concede that Mr Trump can again prevail in crucial swing states, such as Florida and Ohio, which seems entirely plausible.
Nonetheless, all the Democrats would need to add to Mrs Clinton’s 2016 performance are victories in Pennsylvania, Michigan and Wisconsin. Together, they provide 46 additional electoral college votes, which is enough to regain the White House.
Ohio seems to be consolidating as a Republican state, and Democrats certainly can’t count on winning Florida against Mr Trump.
But if they focus on Pennsylvania, Michigan and Wisconsin − and the blue-collar and unionised voters there who were seduced by Mr Trump two years ago − they could beat him.
Democratic candidates performed very well in all three states in the midterms. A key reason is that Mr Trump’s main achievement so far has been a large tax cut for the wealthy and corporations, at the expense of working people.
Mr Trump could complicate this if he resurrects his idea of a trillion-dollar infrastructure public investment, which would create large numbers of jobs. But he’s shown absolutely no sign of it, and could face stiff resistance from conservative Republicans, and possibly Democrats, if he did try.
For now, he seems focused on staging poisonous fights over race and culture. Such white-nationalist fear mongering works in many parts of the country, but probably won’t be sufficient in these Midwestern states.
The biggest obstacle for Democrats could be an ideological shift too far to the left. The Bernie Sanders-led “democratic socialist” faction is certainly thriving.
However, around the country in the recent election, Democrats showed an encouraging willingness to tailor nominations to suit local preferences, running left-leaning, centrist and even slightly conservative candidates where that proved most effective.
A presidential nomination, though, is more complicated. That person will be a national leader, and Democrats may well have to endure a bitter struggle between the left and the centre.
However, the election result they just secured in the face of a prosperous national economy suggests that if Democrats can remain open to a wide range of orientations, nominate a candidate with broad appeal, and focus their energies on Pennsylvania, Wisconsin and Michigan, they can make Mr Trump a one-term president.
Hussein Ibish is a senior resident scholar at the Arab Gulf States Institute in Washington
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Company%C2%A0profile
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Bournemouth 0
Manchester United 2
Smalling (28'), Lukaku (70')
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
Manchester United v Liverpool
Premier League, kick off 7.30pm (UAE)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.