The popular response to the shock of Donald Trump’s election in the United States has been calls for national unity and the healing of divides after the polarisation of the presidential campaign. The desire is for a period of normality, in the hope that Mr Trump’s extremist rhetoric was just an electoral tool.
But there is nothing normal about Mr Trump’s election victory. It represents a break with many of the political and economic orthodoxies of the last 40 years. It brings to power a new paradigm of elite rule that, in the absence of a real insurgency against the establishment, is able to masquerade as a revolt against the elites.
To understand the scale of the shift, think back to the last shake-up of conservative politics in the US, with Reaganism in the 1980s. His “New Right” formula – shared with Margaret Thatcher in Britain – combined a racist law and order politics, attacks on organised labour, privatisation, global trade liberalisation, the expansion of the financial sector, Cold War militarism and the cultivation of consumerism.
This revolution from above shattered the post-war Keynesian consensus in Britain and the United States. When a Democrat returned to the White House, the fundamentals of Reaganism remained in place. Bill Clinton’s only adjustment was to wrap Reagan’s free-market fundamentalism in a corporate multiculturalism that absorbed elite liberals into a new status quo. Tony Blair played a similar role in normalising Thatcherism.
With the end of the Cold War, this new consensus was globally dominant. Market-driven globalisation was assumed to be the destiny of the world. An end to the history of ideological conflict was proclaimed. September 11, 2001, marked not the return of history but an apparent reminder that other parts of the world had yet to catch up.
But the 2008 economic crisis was a catastrophe internal to the system rather than an external attack. It represented a major crisis of legitimacy for the free-market world that Reagan and Thatcher created.
The crisis will not be resolved through the existing formulae of centre-left and centre-right politics that have dominated the West since the end of the Cold War. What comes next will emerge from elsewhere, most probably the margins of the Left or Right.
At present, the far-right has done a better job of understanding the crisis and figuring out how to build coalitions that can exploit the new situation. Mr Trump’s success is one result. The Brexit vote in Britain earlier this year is another.
At the core of both victories are new techniques of political racism that enable coalitions of working-class and middle-class whites to achieve electoral success. In the US presidential elections, across every income category, and across men and women, the majority of whites voted for Trump and the majority of non-whites voted for Hillary Clinton.
This was not simply a white backlash against eight years of Barack Obama or a throwback to Nixon’s “southern strategy” of marshalling a nostalgic bigotry. Rather, it is a technique that thrives amid the hypocrisy of America’s 21st-century liberal platitudes.
Racism in the United States is a social and political system, not simply a matter of individual attitudes. It is sustained not by barroom bigots but by millions of acts of complicity on the part of ordinary people who happen to live in a society that depends on an oppression it publicly disowns.
America tells itself a story of its own exceptional virtue while also systematically maintaining devastating economic inequalities and racial oppressions that only official violence can sustain. It proclaims itself leader of the free world while defending everywhere elites who profit from the lack of freedom of their subjects.
Mr Trump exploited precisely that gap between the polite, liberal values espoused by corporate CEOs and secretaries of state, and the exploitation and violence they actually preside over, domestically and globally. His Islamophobia – signified by his call for a ban on Muslims entering the United States – made explicit what was already implicit in the policies of the war on terror under Bush and Obama. Similarly, his demand for a wall to be built on the Mexican border dramatised what had been the official policy of both parties since the 1990s.
Mr Trump’s message is that only he has the strength to break the normal rules of politics, to strip the veneer of civil society, so that the political game is revealed for the power grab it is. With the rules of political correctness set aside, he implies, all that remains is “them” and “us,” the struggle of race and nation for supremacy.
Under Donald Trump, then, enemies will be named rather than obscured and liberal pieties dispensed with. Waterboarding is “minimal, minimal, minimal torture”, says Mr Trump; he will bring in something far worse. His vulgarity, violence and offensiveness – the very qualities that conventional wisdom saw as disqualifying – secured his ideological victory more powerfully than rational argument.
Even Mr Trump’s boasting in a presidential debate of the size of a body part was more than just an accidental vulgarity. The subtext was that power would be wielded nakedly and without embarrassment. Mr Obama embraced soft power; Mr Trump’s will only be hard. Against this masculinised message, Hillary Clinton could not compete.
That such a candidate could win the support of significant sections of the CEO class tells us two things. First, it indicates they no longer feel the need to pay lip service to the dignity of public office. During the Cold War, the US ruling class, disciplined by a rival ideological force with real political power, still respected the institutions through which the US was governed. The neoconservatives who were so central to George W Bush’s presidency retain some of that old mindset and fear Mr Trump as its antithesis.
But the corporate elite today has abandoned any broader approach to government beyond lobbying for tax cuts and deregulation. There is scant embarrassment at bankers’ multi-million-dollar bonuses, even in the midst of a financial crisis they helped create.
Meanwhile, policymaking in Washington is now so controlled by corporate lobbyists that it lacks almost any correlation with majority public opinion. Such brazen arrogance of power is unprecedented in the modern era; Mr Trump is its emblem.
Second, Mr Trump’s election reflects an understanding among sections of the US corporate class that the globalisation advanced by Reagan and Mr Clinton has had unintended negative consequences. The old assumption was that, in the long run, US capitalism is better off if the world adopts a global system of liberal trade and investment rules. Globalisation looked like Americanisation and US corporations could expect to take special advantage of it.
Today, globalisation looks more like a de-centring of the West. Hence Mr Trump’s commitment to renegotiate or withdraw from the North America Free Trade Agreement, to withdraw from the Trans-Pacific Partnership, and to challenge China’s trade policy. Hence the fear that the world is no longer being won for America, that the best course now is a partial withdrawal from global leadership.
It is too early to declare the end of Pax Americana but the Trump administration looks set to do less global economic firefighting and less “democracy promotion”. The compensation for that retreat from the global stage will be a reassertion of white supremacy at home.
Such are the building blocks of a new far-right paradigm of government. With Donald Trump at the helm of the largest surveillance system ever created and the capacity to carry out extrajudicial killings by drone strikes on demand, the groundwork for a very 21st-century fascism has been laid.
Arun Kundnani is the author of The Muslims are Coming!. He teaches at New York University
COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.9-litre%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E536hp%20(including%20138hp%20e-motor)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E750Nm%20(including%20400Nm%20e-motor)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C380%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ETribute%20Games%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Dotemu%3Cbr%3E%3Cstrong%3EConsoles%3A%20%3C%2Fstrong%3ENintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
ARM%20IPO%20DETAILS
%3Cp%3E%3Cstrong%3EShare%20price%3A%3C%2Fstrong%3E%20Undisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ETarget%20raise%3A%3C%2Fstrong%3E%20%248%20billion%20to%20%2410%20billion%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProjected%20valuation%3A%3C%2Fstrong%3E%20%2460%20billion%20to%20%2470%20billion%20(Source%3A%20Bloomberg)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELead%20underwriters%3A%3C%2Fstrong%3E%20Barclays%2C%20Goldman%20Sachs%20Group%2C%20JPMorgan%20Chase%20and%20Mizuho%20Financial%20Group%3C%2Fp%3E%0A
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
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.”
THE BIO
Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.
Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.
Personal motto: If something’s meant for you it won’t pass you by.
Last-16 Europa League fixtures
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa
The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail
SERIE A FIXTURES
Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)
Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)
Monday Fiorentina v Genoa (11.45pm)
RESULTS
2pm: Handicap (PA) Dh40,000 (Dirt) 1,200m
Winner: Najem Al Rwasi, Fabrice Veron (jockey), Ahmed Al Shemaili (trainer)
2.30pm: Handicap (PA) Dh40,000 (D) 2,000m
Winner: Fandim, Fernando Jara, Majed Al Jahouri
3pm: Maiden (PA) Dh40,000 (D) 1,700m
Winner: Harbh, Pat Cosgrave, Ahmed Al Mehairbi
3.30pm: Maiden (PA) Dh40,000 (D) 1,700m
Winner: Wakeel W’Rsan, Richard Mullen, Jaci Wickham
4pm: Crown Prince of Sharjah Cup Prestige (PA) Dh200,000 (D) 1,200m
Winner: Jawaal, Fernando Jara, Majed Al Jahouri
4.30pm: Sheikh Ahmed bin Rashid Al Maktoum Cup (TB) Dh200,000 (D) 2,000m
Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.