The west is the author of its own weakness

The west is the author of its own weakness | Financial Times

What Trump understood, as did populists elsewhere, is that the voters’ respect for established politics is rooted in a bargain. Public faith in democracy — in the rule of law and the institutions of the state — rests on a perception that the system at least nods towards fairness. There have been reforms to that end since the crash, but little to suggest they are enough.

There was nothing wrong with the ambition of the post cold war optimists. It remains hard to see how the world can work without liberal democracy and a rules-based international system. What the optimists missed then, and the China watchers overlook now, is the hollowing out of trust in democracy at home. Of course, China is a potential threat. A second presidential term for Trump would be a much more dangerous one.

It may be that history will conclude that the excessive optimism of the 1990s is being mirrored today by too much pessimism. That’s a judgment I intend to leave to others. For a political commentator, 25 years in the same slot is long enough. So this is my last column. I will continue to write from time to time as an FT contributing editor, but otherwise intend to go in search of a better understanding of, well, history.

Philip Stephens