The old worries about Donald Trump’s candidature continue in the new phase of the presidential election campaign. Chuck Burton / AP Photo
The old worries about Donald Trump’s candidature continue in the new phase of the presidential election campaign. Chuck Burton / AP Photo
The old worries about Donald Trump’s candidature continue in the new phase of the presidential election campaign. Chuck Burton / AP Photo
The old worries about Donald Trump’s candidature continue in the new phase of the presidential election campaign. Chuck Burton / AP Photo

Only atonement can make the US complete


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America’s five-month primary election season formally ended on Tuesday, but a new, brutally serious phase had already begun with the weekend’s mass shooting in Orlando, Florida. It was the deadliest such incident in US history and was perpetrated by an American-born-and-bred Muslim man of Afghan ethnicity who may have been both mentally disturbed and self-radicalised. Unsurprisingly, the tragedy was cynically seized by the Republican Party’s presidential hopeful Donald Trump as a chance to hammer his Islamophobic ideas for keeping America safe.

In this new phase of the presidential election campaign, then, the old worries about Mr Trump's candidature continue. There are fears, most recently expressed by the previous Republican party nominee for president Mitt Romney, that Mr Trump's brief political career could change the moral fabric of America for generations to come by introducing "trickle-down racism, trickle-down bigotry and trickle-down misogyny".

Is this just overblown rhetoric, of the sort one might expect during an unusually polarising presidential election? Can just one political season really change a country for ever? And if a political campaign can inject a new idea – for good or ill – into a national mindset, does that not imply predisposition? Could seemingly new campaign slogans simply reflect a people’s deeply buried atavistic ways of thinking?

This presidential election, the fourth since the 9/11 attacks, may eventually offer some answers. Even before the Orlando massacre, it was clear that Mr Trump’s campaign and message were having an extraordinary effect on the country.

His rallies had been marked by high levels of violence both by his supporters and those protesting against his divisive message.

More disturbingly, there were several outbreaks of anti-Muslim bigotry and anti-Hispanic racism at high schools and university campuses across the country. “Stop Islam” slogans, for instance, were found chalked on a pedestrian walkway at Emory University in Atlanta, Georgia.

Mr Trump’s “build a wall” proposal for America’s border with Mexico was taken up by white high school students in places as different as Beloit in Wisconsin and Palo Alto in California. Their aim seemed to be the humiliation of Hispanic classmates by asserting racial superiority.

Is it a sign of politically induced “trickle-down racism, trickle-down bigotry and trickle-down misogyny” that America’s children are taking up Mr Trump’s anti-Islam, anti-Mexican chant? Yes, but that may not be the whole story. Young people routinely mimic their elders.

They are learning the lessons being handed down by Mr Trump, who turned 70 on Tuesday and should rightly be expected to be a venerable role model by virtue of running for the highest office in the land. He isn’t proving a role model but that’s another matter.

If Mr Trump’s demagoguery is defeated at the ballot box on November 8, we can expect “ban Muslims” and “build the wall” to fade from communal memory and American children to find more innocent slogans.

But what if the newly observed bad behaviour on school playgrounds and campuses is a sign of something deeper than Mr Trump’s demagoguery? Something more nativist, an ethno-nationalism that unmakes the idea of America, e pluribus unum, or out of many, one?

Filmmaker Michael Moore recently pointed to Germany as a good example for America to follow if it is to recover from the overt racism introduced into standard discourse this political season.

More specifically, Moore commended the way that Germany has come to terms with its past and the immense historical wrong done within living memory. Acknowledging a problem is “step one of the 12-step programme” of atonement, he said.

He is absolutely right. Germany has been remarkably resolute about looking evil in the eye and expressing remorse and determination.

Even the German parliament’s recent controversial decision to recognise the Armenian “genocide” reflected Germany’s unflinching acknowledgement of its sins.

The parliamentary resolution says that the massacre and forced resettlement of more than a million Armenians during the Ottoman period “exemplifies the history of mass destruction, ethnic cleansing, expulsions and yes, the genocides that distinguished the 20th century in such a horrible way.” And then it offered a mea culpa: “At the same time, we recognise the uniqueness of the Holocaust, for which Germany takes the blame and bears responsibility. The Bundestag deplores the inglorious role of the German Empire, which, as Turkey's military ally, had clear information from its diplomats and missionaries about the expulsion and annihilation of Armenians, but did not attempt to stop these crimes against humanity.”

The US hasn’t done anything so humble and remorseful, especially with respect to African-Americans and Native Americans at home, and communities of Muslims and others abroad. This failure to acknowledge and atone arguably prevents the US from making the social changes it must to move on, as Moore suggested.

That may be one reason that Trump-ian politics became possible at all. And that more than 50 years after racial equality achieved sacred legal status, there is a US presidential candidate whose agenda belongs to 1930s Germany.

It was Richard von Weizsaecker, president of the then West Germany, who said while visiting Israel's Holocaust memorial in 1985: “The past cannot be wiped out. The more openly we face the truth, the freer we are to meet present-day challenges.”

Only atonement can make America whole and free.

Rashmee Roshan Lall is a writer on world affairs

On Twitter: @rashmeerl

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.”

Abramovich London

A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.

A three-storey penthouse at Chelsea Waterfront bought for £22 million.

Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.

Sale of Chelsea Football Club is now impossible.

The biog

Mission to Seafarers is one of the largest port-based welfare operators in the world.

It provided services to around 200 ports across 50 countries.

They also provide port chaplains to help them deliver professional welfare services.