All Together Now: This Is No Time to Go It Alone
It’s an old saying that has stood the test of time: “A problem shared is a problem halved.” It’s how agony aunts work the world over, and investors and investment managers active in the real estate world could certainly use an agony aunt right now. In many respects, though, in various aspects of current political and economic behaviour around the world, it’s as if the saying is being stood on its head and turned into “My problem may be your problem, too, but I’d rather deal with my problem by myself in my own way. Butt out.”
When votes are at stake, multilateral relationships under strain or the chips down, people and countries act in their own interests, even on multinational issues where an apparent consensus on the best way forward has been forged.
Take US president Obama’s recent pronouncements on how he intends to deal with high-profit, risk-happy, too-big-to-fail Wall Street banks; such populist ac