What do Belarusian President Alexander Lukashenko, the Dutch rapper Famke Louise, Donald Trump and the British government have in common? They all have shown the desire to bend or break rules, regulations, customs or laws that the rest of us generally obey.
The secret swearing-in of Mr Lukashenko for his sixth term as Belarus’s President was greeted with street demonstrations and the refusal of the EU and others to recognise his claim that he won a fair election.
In the US, Donald Trump relishes breaking or bending traditional norms associated with the presidency. He has publicly refused to say whether he will accept a Joe Biden victory in November’s US presidential elections (although the grandees of his Republican party say they will indeed accept the verdict of the American people).
In the Netherlands, Famke Louise is a 21-year-old rapper with a million followers on Instagram. She became part of a campaign to refuse to observe coronavirus restrictions, including mask-wearing and social distancing. Ms Louise declared: “I no longer participate. Free the people.” This libertarian type of argument may be shaky but she is “saying no to all measures until the government can verifiably justify those policies”. The Netherlands’ Covid-19 cases have hit 2,000 a day, the worst since the pandemic began.
In the UK, Boris Johnson also attempted a libertarian argument when asked why the number of coronavirus cases was higher in Britain than Italy or Germany. He responded: “We have to acknowledge that (the UK) is a great and freedom-loving country and while the vast majority have complied with the rules there have been too many breaches.”
Critics pointed out that the country’s poor record is not because we are “freedom-loving” but because the Johnson government failed to provide adequate testing, tracking and tracing, and his own chief adviser Dominic Cummings breached the rules by driving 250 miles with his family while testing positive for the virus. Mr Johnson was complicit in Cummings’ rule-breaking by refusing to sack him. Moreover, when it comes to Brexit, Mr Johnson’s government has said that this “great and freedom-loving country” is now prepared to breach another pesky rule – international law – through a new Internal Market Bill, a threat which has divided even his own Conservative party.
What links these examples from four different countries is not vacuous rhetoric about freedom. It is power and privilege. Mr Lukashenko holds on to power because, for now, he can. Famke Louise used the power of celebrity and social media to say she will break the rules. Mr Johnson has the power of an 80-seat majority in parliament, and his adviser Dominic Cummings can break the rules with impunity because he has the support of that most powerful patron, the British Prime Minister himself. Mr Trump uses what some call the “bully pulpit” of the presidency to threaten chaos if he fails to be re-elected, because his is the most powerful job in the world.
But privilege and the power to bend or break rules can quickly disappear. In 1989 a US millionaire businesswoman, Leona Helmsley, gained worldwide notoriety as the “Queen of Mean”. For years, she dodged paying taxes because her enormous wealth meant she had the power to get away with it. She became notorious for uttering 10 words that summed up an attitude to life echoed by other privileged and powerful rule-breakers in 2020.
"We don't pay taxes; only the little people pay taxes," Helmsley said. This kind of arrogance ensured her "freedom" to break the rules ended with a jail sentence. The so-called "libertarian" argument is a con. It is often used by the powerful and privileged in ways unavailable to "the little people". Libertarian rhetoric about "personal freedom" and rule-breaking is merely a disguise for being selfish, like a driver caught speeding at 120 miles an hour claiming he is simply "freedom-loving".
Elites may find that the privilege and power to bend or break rules can quickly disappear
In 2020, we have enough problems without an epidemic of rule-breaking enabled by powerful, privileged people who seem to believe that laws, common decency and unselfish behaviour are, like taxes, "only for the little people". Most of us "little people" love freedom too. We dislike taxes, but we pay them to build a civilised society. Most of us "freedom-loving" people do not like wearing masks, but we accept it as a tiny sacrifice to help prevent the spread of coronavirus. And no politician wants to lose an election, but they accept losing gracefully to retain public faith in democracy.
Right now, the "little people" have been increasingly finding a voice. After a wave of public criticism, Famke Louise now regrets her "libertarian" statements. The "little people" of Belarus refuse to be cowed into accepting Mr Lukashenko. And for Mr Trump and Mr Johnson there are very choppy waters ahead, in Mr Trump's case over his public exposure as a less-than-successful businessman. Even Mr Trump and Mr Johnson's political allies have been reduced to tepid declarations of support. In a US election year, amid a global pandemic, and with Brexit hanging in the balance, the "little people" around the world still can make themselves heard.
Gavin Esler is a UK columnist for The National
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
MATCH INFO
Asian Champions League, last 16, first leg:
Al Ain 2 Al Duhail 4
Second leg:
Tuesday, Abdullah bin Khalifa Stadium, Doha. Kick off 7.30pm
Company%20profile
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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.”
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
RESULTS
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Opening Premier League fixtures, August 14
- Brentford v Arsenal
- Burnley v Brighton
- Chelsea v Crystal Palace
- Everton v Southampton
- Leicester City v Wolves
- Manchester United v Leeds United
- Newcastle United v West Ham United
- Norwich City v Liverpool
- Tottenham v Manchester City
- Watford v Aston Villa
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Rebel%20Moon%20%E2%80%93%20Part%20Two%3A%20The%20Scargiver%20review%20
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