After an Indian engineer was shot dead in the United States for, as his white American assailant said: “looking Middle Eastern”, the grieving widow asked a question of 21st century America: “Do we belong?”
She meant the following: do people such as her and her late husband – educated, law-abiding foreigners with the legal right to live and work in the US – have the right of belonging in majority white America?
It’s a good question and might be asked elsewhere too. In India, the Muslim minority has been asking the same question for decades. More recently, so have Africans studying in India because they have become the target of racist attacks. In the UK, that question is being asked by anxious residents with EU passports and others. In some other European countries, second- and third-generation immigrants from North Africa express doubt over the extent to which they are seen to belong.
But it is not only ethnic foreigners, brown and black immigrants and religious minority groups who are grappling with the question of belonging.
There is a new complication and it is the rise of populism. The UK-based American author Lionel Shriver recently called for populism to be decoded. When people use the term, she said, what they really mean is bigoted, so let’s just say what we mean. Shriver is a consummate wordsmith, with a probing take on the human condition, as evinced by her many acclaimed novels. So if we use her terminology, what does the rise of bigotry signify for belonging? More racism, Islamophobia and anti-Semitism, for sure, with all the implications thereof, but it also means something else. A new domestic political apartheid is coming into being – metropolitans versus small-towners in parts of the rich world; town versus village in developing countries; and overall, a rhetorical privileging of the “real” people versus the fake ones.
Consider this recent pronouncement by Steve Bannon, chief strategist to US president Donald Trump. Mr Trump’s “populist nation-state policies”, said Mr Bannon, are supported by “Real America” and is opposed only by “cosmopolitan elites”. Consider India’s prime minister Narendra Modi’s declaration ahead of the election in Uttar Pradesh, the penultimate round of the democratic process in five states. “The poor can detect truth.” Is “Real America”, mostly white working class and in rural areas and small towns, the only one that matters then? Are they the only people who really belong in the US? Are India’s poor, mostly in the rural hinterland, the only ones who belong in India? That sounds absurd and anti-democratic, considering that 54 per cent of the world’s population now lives in urban areas, a proportion that is expected to increase to 66 per cent by 2050.
The turning point for urbanisation occurred in 2008. It was the first time in history that more than half the world’s human population – 3.3 billion people – was living in cities. And yet, less than a decade on, a strange sort of mythologising is informing the prevailing political rhetoric, though not the actual direction of political policy. The myth revolves around the noble peasant, author E M Forster’s moral messenger of choice. Forster located moral superiority in an instinctive wisdom descended from a past rooted in a specific place.
That would square with British prime minister Theresa May’s extraordinary declaration in October that “if you believe you are a citizen of the world, you are a citizen of nowhere”. It would mesh with Mr Trump’s constant invocation of “the people” – his core voters – who he said had become “the rulers of this nation again” with his inauguration. It would chime with French far-right nationalist leader Marine Le Pen’s presidential campaign slogan, “in the name of the people”.
As Tom Brass, one of Britain’s leading experts on peasant studies, has written, class has been overtaken by provenance. Degenerate, corrupt, sinful universalism is constantly contrasted with the immanent goodness and naturalness of indigenous discourse, “the middle peasant … engaged in everyday forms of resistance to remain the same”.
The book in which those words appear, Brass’s Peasants, Populism and Postmodernism: The Return of the Agrarian Myth, was published in 2000, but its relevance now is striking.
Even so, it’s worth examining how the myth accords with reality. Cities have long been seen as the main engines of growth. A 2013 McKinsey Global Institute study found that almost the entire world economy was represented by approximately 400 cities, a snapshot that is unlikely to have changed since.
Why then should Mr Trump’s “forgotten people” in small urban conglomerations and Mrs May’s “left-behind” in even smaller clusters be the arbiters of everyone’s destiny? What gives Mr Modi’s long-evoked “poor”, in densely populated areas that are city-scale but lacking in urban amenities, the wisdom of the ages? What makes the rural or rural-seeming hinterland more real than everything else in a country? What gives the peasant more moral authority than his city-dwelling fellow citizen?
The answer is as bald as it is obvious. Nothing. Only the demagogue, the populist and, yes, the bigot, make it seem so.
Rashmee Roshan Lall is a writer on world affairs
On Twitter: @rashmeerl
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Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
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LEAGUE CUP QUARTER-FINAL DRAW
Stoke City v Tottenham
Brentford v Newcastle United
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All ties are to be played the week commencing December 21.
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Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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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Uefa Champions League quarter-final (first-leg score):
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ARSENAL
BARCELONA
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CHELSEA
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- League Cup - 2015
SPAIN
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