1 rich Libsyn https://www.libsyn.com 90 600 In this episode of Perspectives, Escala Chief Investment Officer, Tracey McNaughton, explains why today’s geopolitical tensions signal a deeper structural shift – and what it means for markets, alliances, and investors. (1:08) Is the current state of the world only as permanent as Trump remains in office? In other words, is this just a phase, or are we actually living through something more structural? (2:30) So, even if the political backdrop changes, the system itself has already shifted?&amp;nbsp; (4:29) Let’s talk about that, because alliances have always been the backbone of the global system.&amp;nbsp; (5:27) And that realignment has second-order effects in places people might not immediately think about.&amp;nbsp; (6:29) So, even if nothing changes domestically, the global context could undermine that progress?&amp;nbsp; (7:56) To bring it back to the original question – this isn’t just about who’s in office.&amp;nbsp; (8:20) Let’s move to the second theme, which builds directly on that idea:&amp;nbsp;the Age of Chokepoints.&amp;nbsp;It’s a phrase we’re hearing increasingly. Tell us about it.&amp;nbsp; (11:46) What does that redesign look like in practice?&amp;nbsp; (13:59) With all of that as the backdrop, it would be reasonable to expect markets to be under significant pressure.&amp;nbsp;And yet, particularly in the US, equities have been remarkably resilient. Why is that?&amp;nbsp; (14:50) So, even with all the uncertainty, the underlying growth drivers are still intact?&amp;nbsp; (15:37) Are markets effectively looking through the noise?&amp;nbsp; (16:16) How should investors think about this environment?&amp;nbsp; 'Perspectives' by Escala https://escalapartners.com.au/ <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/40966180/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/201044110