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Stephane Couturier for Pictet
March 2018

Protectionism, populism and despots: why investing just got harder

How political upheaval in the US, Italy and China could redraw the economic and investment landscape.

While investors cannot, by definition, foresee  'Black Swans' - or ‘unknown unknowns' - they should always try to insure themselves against adverse outcomes that lie within the regular realm of expectations. With this in mind, we have sought to highlight the problems that could arise if the world succumbs to intense geopolitical turmoil.

highest globalised economies to be hit the most
Global value chains participation rate*
Protectionism_en.png

Source: Pictet Asset Management, CEIC, Datastream, WTO
*Foreign value added used in a country’s exports (backward participation) + value added supplied to other countries’ exports (forward participation)

What If...?

The potential fallout from geopolitical upheaval

PoliticalRiskTable.jpg

Source: Pictet Asset Management