Political instability here to stay in a world still mired in discontent

THE World Economic Forum begins in Davos today. This year's session, on the theme of responsible and responsive leadership, will focus on how best to address the "growing frustration and discontent increasing in segments of society that are not experiencing economic development and social progress".

2016 is widely seen as underlining this anguish with a growing anti-establishment, anti-globalisation mood across much of the world - to the alarm of many in the business and political communities who attend Davos. Cases in point last year included the rejection of Italian Prime Minister Matteo Renzi's constitutional referendum, the election of Donald Trump as US president, and the United Kingdom voting to leave the EU.

However, while 2016 now seems a potentially defining historic moment to some, the fact is that unusually high political turbulence has actually been a feature of politics for much of the last decade - at least since the international financial crisis commenced in 2008-09. For instance, many governments in the industrialised world have been voted out of office, in part, because of economic downturn and/or austerity measures.