Why Asia’s investors are now political animals

In a now-famous moment of intellectual hubris, political scientist and economist Francis Fukuyama in 1989 declared the ‘end of history’. The impending collapse of the Soviet Union and the clear triumph of the US economy had left him convinced the big political questions had been answered, with Western liberal democracy having won the day. Investors, he argued, no longer had to focus on broad political changes when considering how to allocate their portfolios. Clearly, Fukuyama s…