When Britain's Conservative MPs voted to retain Theresa May as their leader last week, one aspect stuck out about those hungry to succeed her – and that was what an unimpressive and deeply flawed bunch they were, with not one politician of truly great stature among them.
But it is not just the UK that is currently suffering from a lack of bona fide statesmen and women. Around the democratic world, they appear to be notable by their absence. Instead, we have an array of populists, from Donald Trump in America and Viktor Orban in Hungary to Brazil's Jair Bolsonaro: men who prey on fear and stoke a mean-spirited and exclusionary nationalism. We see those who aspired to the mantle of greatness, such as France's Emmanuel Macron, fail to match expectations and prove to be no better than their predecessors. And then there is a long list whose names provoke recognition but not admiration, still less inspiration. (Australia's Scott Morrison, please take a bow.)
It should be an embarrassment to the world's democracies that the leaders who most stand out and who define the times are authoritarians: China's Xi Jinping, Russia's Vladimir Putin and, perhaps, India's Narendra Modi.
The German Chancellor Angela Merkel might have counted as a great leader but she is on her way out. And Malaysia's Dr Mahathir Mohamad might also be considered a statesman but that is due to his previous 22 years as prime minister from 1981 onwards, rather than his current return to office at the grand old age of 93.
It is no act of nostalgia to state that in that era – the 1980s and 1990s – and before, political giants strode the global stage. Whatever you thought of Ronald Reagan, Margaret Thatcher, Helmut Kohl, Francois Mitterrand, Mikhail Gorbachev and Indira Gandhi, they were undeniably formidable and considerable figures. The same could be said of Charles de Gaulle, of Mrs Gandhi's father Jawaharlal Nehru and his allies in the Non-Aligned Movement such as Indonesia's first president Sukarno.
A former Egyptian minister suggested to me recently that this was because of the times they lived in. Events like German reunification or the dismantling of the Soviet Union can only happen once, he argued, and were bound to magnify the leaders who happened to be in charge at the time. Equally, he said, there were genuine divisions over economic management. Since that discussion was effectively won by the right, the rest was just tinkering at the edges. No wonder, he concluded, that today's politicians seem small in comparison.
But there was more to it than that. The figures I mention all stood for something. They dominated consciousness. They were simply unavoidable and not just because there was no internet and only a choice of a handful of television channels in most countries. They all, as a former British Conservative minister put it recently, had "ballast". Was it because they had lived through the Second World War and had therefore experienced calamity of a profundity that younger politicians just cannot comprehend? Was it due to the fact that most had careers of great longevity – Mr Mitterrand, for example, had served as a minister as far back as 1947 before finally becoming president in 1981 – and were therefore bolstered by years of accumulated experience?
Whatever the reason for the air of substance they projected, we are certainly not seeing their like today. For this, no blame can be attached to the younger generations of 2018. They are just starting out. It would be unreasonable to expect more than idealism and enthusiasm from them. It is the politicians currently in their 40s, 50s and 60s who are to be found lacking. How did the febrile, bitterly divisive and momentous politics of the 1960s, 1970s and early 1980s fail to produce a more dynamic crop of leaders?
Was it the fact that as children, nuclear war was for us an existential threat and terrorism – be it the IRA setting off bombs in Britain or left-wing extremists kidnapping and killing a former Italian prime minister – seemed far more omnipresent and imminent than it does now, even with the appalling attacks inspired by ISIS? Or the fact that with the end of the Cold War, an era of peace and prosperity appeared set to last? Did that breed a complacency in the not-so-greatest generations? Or did the bland but apparently successful managerialism of the Blair-Clinton-Schroder Third Way drain the life spirit of the left and leave much of the right believing that there was no option but to co-opt that model?
Given how badly globalisation on the basis of the Washington Consensus has let so many people down, in developed countries possibly even more than in developing ones, because the populations of advanced countries never expected such reversals in their fortunes, the false promises of that compromised, rootless brand of politics have been laid bare for all to see.
There are alternatives, but the appeal of various forms of narrow populism has not been stronger since the 1930s. What one academic refers to as the "centrist extremism" of Barack Obama – a disappointing president who only looks good in comparison to his successor – is not the answer.
The world's democracies badly need to revive themselves and elevate politics to a calling that once again attracts and produces statesmen and women who are decisive, responsible and capable of rallying public sentiment for noble causes, not the sectional interests of the resentful.
Currently they are nowhere in sight. Will the democratic world really leave it to the autocrats to set the course of the decades ahead?
Sholto Byrnes is a senior fellow at the Institute of Strategic and International Studies Malaysia
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Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
UAE currency: the story behind the money in your pockets
The past Palme d'Or winners
2018 Shoplifters, Hirokazu Kore-eda
2017 The Square, Ruben Ostlund
2016 I, Daniel Blake, Ken Loach
2015 Dheepan, Jacques Audiard
2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan
2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux
2012 Amour, Michael Haneke
2011 The Tree of Life, Terrence Malick
2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul
2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke
2008 The Class (Entre les murs), Laurent Cantet
SHAITTAN
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The specs: 2018 Honda City
Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
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Available: 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.”
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
Bawaal%20
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Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Naga
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