Global: Trumpeting seismic change
Trump’s new foreign policy marks a seismic shift. It returns the US to its role as global policeman backed by hard power. We do not think this is a temporary change as it is a policy crafted by senior players with a firm grip on reality and professional competence. Nor is it a return to foreign policy orthodoxy. It is backed by hard power and is likely to reverse the progressive loss of US influence in Asia and the Middle East. In the long-term it is likely to make the world a safer place. In the short-term geopolitics will be volatile and will matter for markets.