French presidential candidate Marine Le Pen thanks her supporters during an election rally on May 1, 2017 in Villepinte, France. Jeff J Mitchell / Getty Images
French presidential candidate Marine Le Pen thanks her supporters during an election rally on May 1, 2017 in Villepinte, France. Jeff J Mitchell / Getty Images

Elections rarely reflect the clear will of the people



When elections yield a surprising result, you often hear the phrase, “the people have spoken”, which means the case is closed and nothing more is to be said. In real life, the voice of the people is often not clear at all. And if it appears to be clear when the votes are tallied, then perhaps the people did not fully understand what was at stake.

Take the victory of Donald Trump in the United States. Six months on, there is a general assumption that this reflected a sea change in American politics such that only a rank outsider promising to “drain the swamp” of Washington could win. But Hillary Clinton, the ultimate insider and swamp denizen, won the popular vote by a margin of 2.9 million votes. It was only the US election system – in which the president is chosen by an electoral college made up of separate delegations from each state – that ensured Mr Trump’s victory.

If Mrs Clinton had run a better campaign and focused more on the rust belt states such as Michigan and Wisconsin that pushed Mr Trump over the line, she could have won. In that case, the commentary would have been about the resilience of elites and the chances of Chelsea Clinton winning the presidency in 2028.

With the final round of the French presidential election on Sunday, all the polls show that the independent centrist Emmanuel Macron will romp to an easy victory over Marine Le Pen, the far right, Islamophobic candidate of the Front National. The opinion polls give Mr Macron, a pro-European former banker, a lead of up to 20 percentage points.

But what if France had an electoral system like the US one? The Economist magazine carried out an experiment: if France’s 18 regions were treated like American states and the system was based on an electoral college, not the popular vote, then the two candidates would have been neck and neck in the first round of voting on April 23, with the possibility that Mrs Le Pen could have won. (France, of course, is not about to adopt the US system.)

Stalin is known for saying, “It’s not the people who vote that count, it’s the people who count the votes”. If indeed he said such a thing, it was about a vote in the central committee of the Communist Party, a small body of men who lived in fear of the leader, not a nation going to the polls. In today’s world, the important factor is not who counts the votes, but how they are counted.

That is not to say that elections mean nothing. If Ms Le Pen loses the race, her campaign will still have had a huge effect on France, bringing the Front National’s ideas into the mainstream, including the nasty unofficial slogan chanted at her rallies, “We are at home” – by implication a home without migrants and Muslims in particular. The previously unthinkable idea that France might choose to abandon the euro currency and even leave the European Union cannot be buried.

The same is true for the Dutch election in March where the foreign press had suggested that the Party for Freedom of the anti-Muslim politician, Geert Wilders, could emerge as the largest in parliament.

In fact, he came second with 20 seats to the 30 seats won by prime minister Mark Rutte, producing a sigh of relief around Europe. Mr Rutte said his victory was a vote against “the wrong sort of populism”. But in order to win he had to move onto Mr Wilders’s territory, declaring that those who did not abide by Dutch values should “act normal or leave”.

The word from Dutch Muslims is that they all feel less welcome in their country. So who was the winner? In terms of defining the centre ground of politics, rather than the survival of a prime minister, the runner-up achieved almost as much as the victor.

That is not to say that elections are never turning points. In Britain in 1997, after 18 years of rule by the Conservatives, a fresh-faced Labour leader by the name of Tony Blair swept to victory with a landslide. Even the Conservatives admitted in private that they had run out of ideas and energy after so long in government. Unusually for British politics, the landslide was confirmed at the next election in 2001. There was no buyer’s remorse.

No such clarity attaches to Britain’s vote last year in a referendum to leave the European Union, by a margin of 52 per cent to 48 per cent. But now a majority think it is wrong to leave the EU, according to opinion polls.

This reflects the realisation of the complexity of disentangling Britain from the bloc, the misleading slogans of the Leave camp, and the fact that the EU has found a rare sense of unity in punishing Britain with severe financial penalties for its decision.

The root cause of these second thoughts is that the referendum was a blunt instrument, offering a choice of in or out without anyone having thought of the consequences of leaving. Opinion polls suggested an easy win for the Remain camp, demobilising its supporters while firing up the Leavers. But the mantra, “the people have spoken”, has quashed calls for a second referendum which in any case is not in line with Conservative party thinking and would provoke a torrent of abuse from the popular press, itching to fight the Second World War again.

The lesson here is that the results of votes are usually not as clear as they seem. If the result is close, the arguments of the losing side may weigh heavily on the winner. In France if victory goes to Mr Macron, who is the continuity candidate, he will have to deal with the Eurosceptic legacy of Mrs Le Pen, and the reality of a deeply fractured country where trust in traditional parties has evaporated.

Alan Philps is a commentator on global affairs

On Twitter @aphilps

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

TO ALL THE BOYS: ALWAYS AND FOREVER

Directed by: Michael Fimognari

Starring: Lana Condor and Noah Centineo

Two stars

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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
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Sector: Sustainability
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The lowdown

Rating: 4/5

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.”

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Transmission: Single-speed automatic

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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

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
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Tickets

Tickets for the 2019 Asian Cup are available online, via www.asiancup2019.com

Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

When is VAR used?

Goals

Penalty decisions

Direct red-card incidents

Mistaken identity