by Tim Wallace
Telegraph.co.uk
Once upon a time elections were dominated by the economic cycle. “It’s the economy, stupid” became Bill Clinton’s maxim, and one which all politicians could follow.
If growth was good and unemployment low, the ruling party was typically a shoo-in, while a recession would lead to a hasty exit for the government of the day. Simple.
Suddenly the world works in the other direction – the economy is dominated by elections.
Geopolitical risk, the catch-all term for anything from elections to wars, is now in the driving seat.