US National Security Adviser Warns of Emerging Geopolitical Risks for Investors in Europe and Beyond

Jake Sullivan, the US National Security Adviser, has written an article in Foreign Affairs Journal discussing America's diplomatic views and strategic challenges. Sullivan highlights the importance of strategic decisions and alliances in achieving success, while noting that corporations and investors have been slow to respond to the changing world order. Investors should consider practical elements, as macro risks such as currency moves will have a greater impact on portfolio performance due to high equity and corporate bond valuations. The possibility of high debt levels being triggered by a political or geopolitical event is the biggest macro risk for 2024, and investors should consider which countries will become the financial powerhouses of the 21st century.