Recently, the Dutch FT published an article with an intriguing title: The Republicans say goodbye to Big Money (HFD, translation by LO). The FT published a similar title that day: Donald Trump pledges tax cuts, trade wars and border crackdown.
Actually, this development is visible in China, Europe, and USA. It might be the greatest danger for nationalism. In my view, Politics cannot win from Money. Money always sides with the Winner; also see my 2019 blog: Nationalism, the curse for Business.
My 2017 blogs already provided a basic explanation:
Trump is arrogant and ignorant, in combination with bad deeds, words & intentions. This rather rare combination was also in my recent blog. His “nationalism” might well relate to revenge & retaliation on behalf of his expelled German grandfather. Europe, and in particular Germany, must pay for that.
Most politicians are rather pragmatic because their ideology is only skin-deep. Money prefers politicians that way and their donations express their gratitude. Now, such donors are urging Joe Biden to stop (eg, BBC, CNBC, FT, NYT).
Chinese companies are loosing their faith in Chinese pragmatism considering the (severe) changes towards the new Chinese ideology, called common prosperity, also known as common poverty. A recent example:
“Depressed share prices and China’s economic downturn have taken a toll on many listed companies in Hong Kong, which is triggering a wave of delistings. These include Chinese firms, Hong Kong firms and French top international cosmetics brand [..].”
Nikkei Asia, 19 July 2024: Delistings outnumber IPOs by value in Hong Kong so far this year
The 2016 British exit from the European Union, as inspired by its nationalism, is the best and worst European example of Politics versus Money. Also see my related 2018 blogs:
- Unilever: decoupling of business and UK politics;
- Decoupling of Business and Politics in the UK (2);
- Decoupling of Business and Politics (3).
“Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.”
A quote by Oscar Ameringer (1879-1943), a German-American author.
Money, Money (makes the world go round) – 1972 – Cabaret (OST)
lyrics, video, Wiki-film, Wiki-musical
[Verse 1]
Money makes the world go around
The world go around, the world go around
Note: all markings (bold, italic, underlining) by LO unless in quotes or stated otherwise.
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