1  United States  Page 2 of 12  The election of a new US administration in November 2016, which pledged largescale tax cuts and an „America first‟ approach to external trade, compounded market fears of a disruptive rise in US interest rates and an appreciation of the dollar.
In fact, many observers viewed the 2016 presidential election result in the US as one of many examples – albeit a key one – depicting a general shift of voters in advanced economies towards populist politics and policies, including a rejection of several key tenets of the wave of globalisation over the past few decades.