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Best Indian Stocks for Stable Returns Expert Approved Trades ✌️【Freelance Investing】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. 2024 was the year of the vote. More than 60 countries – home to nearly half the planet’s population – selected their leaders. In the history of democracy, it is a first.
In the history of humankind, it was a remarkable coming of age, an evolution, that at its best would not just reveal our collective soul but also propel us to better days. But what did we learn?
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In many industrialized countries, like the United Kingdom, the topic took a back seat to more immediate concerns like putting food on the table today, not ensuring we can grow it a hundred years from now. Concerns over the economy arewhat helped give Keir Starmer’s Labour Party such a decisive victory, after 14 years in opposition, over the Conservatives.
United States President Joe Biden was also a victim of the trend. He’d got inflation down, but not prices, while wages hadn’t gone up; people felt the pain and voted for change in the form of Donald Trump.
Viewed dispassionately, it may seem odd that a leader with a track record of lying and climate denial could land a successful message.
But seen from closer to home it really shouldn’t be so shocking. Across the world, most voters did what they traditionally do and voted with their wallets, punishing, even tossing out, incumbents.
Even where votes hadn’t been foreseen, elections continued to populate 2024 almost to the year’s end.
In mid-December, Germany’smoribund economysank Chancellor Olaf Scholz’s government when the Bundestag voted no confidence in his fractured coalition, triggering snap elections in early 2025.
From Algeria and Azerbaijan to Taiwan and Tuvalu, from the Solomon Islands toSouth Africa, democracy and the freedom to choose leaders has been embraced in a way unimaginable in countries where just a century or so ago voting, if available, was restricted to the wealthy, the middle-aged, and in many cases no women at all.
Biden and the UK Conservatives weren’t the only incumbents who had a bad year. In India, PM Narendra Modi’s populist nationalist party, the BJP,had its vote share cut; in South Africa, the party of Nelson Mandela lost its majority for the first time; and in the European Union, voters also shunned the mainstream, looking to populists on the left and particularly on the right. Mexico was unusual in seeing a sitting party improve its position.
In Bangladesh, Sheikh Hasina easily won another term as president only to be swept from office by protesters, an indication that where the leader, and the ballot box, are widely distrusted, the trappings of democracy won’t save them.
But still, some votes stand out more than others. Donald Trump’s victory in the US presidential contest is undoubtedly the most consequential, while French President Emmanuel Macron calling a snap vote after the EU parliamentary election is perhaps the most informative.
Like Modi in the world’s largest democracy of 1.4 billion people, Macron – with a much smaller electorate of about 50 million - lost significant support.
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In both cases, the hardships were largely beyond their control. The economic pain shared across the world, created in part by the long tail of Covid, coupled with the war in Ukraine driving up energy prices.
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His decision came on the heels of hosting the 80th anniversary commemoration of D-Day in Normandy, where France, and Macron, appeared at their finest, hosting myriad world leaders, World War II veterans, even royalty.
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But just days later the EU election delivered an ego-busting blow and he appeared to be on the verge of a major miscalculation.
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Perhaps the least unexpected result, and possibly the biggest abuse of the concept of democracy, could become one of the most consequential.
Vladimir Putin’s 87% share in Russia’s March presidential vote is an object lesson in what democracy is not.
It is not about political opponents languishing, or in the case of opposition leader Alexey Navalny, dying in jail just a few weeks before the election, neither is it about Putin’s chilling totalitarian grip on media. Nor his pernicious, meddling reach in Moldova, which narrowly voted to remain out with his grasp, nor Romania where the presidential vote was overturned, an apparent victim of social media jacking with telltale Russian hallmarks.
How the re-elected most powerful man in the world handles one of the most frequently illegitimately re-elected leaders in the world will test Europe’s future stability, and with it, global faith in the values of democracy.
Ironically their point of contest will be over Ukraine, a democracy overdue for an election but unable to hold one because of Putin’s illegal invasion, annexation of swaths ofeastern Ukraine and Crimea and his military’s continued war there.
On his re-election campaign trail Trump vowed to end the war “in 24 hours” as well as cut the US support that is helping to stop Putin steamrollering the rest of Ukraine.
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Perhaps the big takeaway of democracy’s impressive 2024 showing, is also the lesson of 1944 – how much one country’s electorate impacts another’s choices. It is a lesson writ larger and more complicatedly than any previous year.
Best Indian Stocks for Stable Returns Expert Approved Trades ✌️【Freelance Investing】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. The US is perhaps entering the twilight as global trendsetter, but its impact, be it on influencing the climate change calculations of India’s Modi and the actions of his populous nation, or a peace deal in Ukraine that signals Putin towards more deadly invasions, can easily affect countries thousands of miles way.
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It’s a lesson not lost on the Syrians emerging in late December from more than half a century of brutal Assad family dictatorship, whose 2025 might just hold the prospect of finally getting a share of democracy’s sweet allure and a trip to the polls themselves to pick their next leader.
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