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America's Superpower
The United States recently concluded its 60th presidential election, and every American should be thankful for this democratic process. Despite the tension and division that comes with elections, they allow Americans to choose their destiny and shape the country's future. This "optionality" is a unique superpower that sets America apart from countries like Argentina, which suffered a historic decline after losing its optionality due to one-party rule. Countries with vibrant democracies, such as Australia, Denmark, and the UK, have less corruption, more balanced economies, and strong alliances with the US. The absence of optionality in China has led to depressed consumer confidence, capital outflows, and languishing equity markets, making it un-investable. However, if China reverts to a system of term limits, it could see significant improvements, as seen in Argentina after the election of Javier Milei. The cost of elections is well worth it for the benefits they bring.