As I write this in Dubai, it seems that Hosni Mubarak’s days as President of Egypt are numbered. It reminds us of the transitory nature of power – although in Mubarak’s case the transit took some thirty years – and he hasn’t gone yet. But regimes that one day can seem to be anchor points on the political landscape, around which governments shape foreign policy and businesses structure their approach to key markets, can the next day be in a state of acute flux.
We seem surprised by sudden change. World leaders caught off guard respond with fancy political footwork and carefully coded statements as they rapidly recalibrate alliances. Markets get the jitters. [Read more…]