Charles Payne

The media has been focused on the sham elections in parts of Ukraine, but it is the election of a new leader in India, which could change the world.

There is a serious movement going on around the world, where people are looking to elect strong leaders, who promote self-reliance and greatness. We have seen this with Japan, where Abe was ushered into office, not only to direct his central bank to print money, but more so to kick the nation in the backside and rekindle memories of former greatness. In Abe's case, getting young Japanese men out of their parent's basements and into the workforce is a paramount goal.

Move a little to the south, and the world's fourth most populace nation is on the verge of electing Joko Widodo, affectionately known as Jokowi. His election platform is all about optimism, and about ditching the elites that held power through decades of crony rule. You can feel the spirit of America's old west, when Jokowi called of a "mental revolution," and you can hear the spirit of the new Tea Party, when he asked citizens to cut "deep dependence" on foreign investment and imported food.

"I suspect that the Brits believe in British exceptionalism and the Greeks believe in Greek exceptionalism." -Barack Obama

While Indonesia will look for increased tax revenue (euphemism for higher taxes), Jokowi wants to focus on free markets to boost agricultural output, and he will cut fuel subsidies.

Hindu Chauvinist

Now India is prepared to move away from dynastic rule that has squandered their economic moment, built on the largest democracy and their giant middle-class.

Narendra Modi is not going to become India's next leader and go on a tour of the planet, bowing to world leaders and dismissing the notion that everyone is great -so everyone is equal. On the contrary, as governor of Gujarat, Modi developed a reputation for a serious strand of nationalism that saw mass riots and thousands of Muslims killed and displaced. The economy in his region, however, significantly outperformed the overall national economy.

Modi has demanded a strong mandate, and if exit polls are correct, that is exactly what he will have. Modi's economic agenda:

  • Free markets
  • Minimal state intervention
  • Create manufacturing jobs
  • Mass infrastructure projects

A social media superstar (Modi) has galvanized the nation's 149 million young voters in much the same way as Abe has in Japan, and Jokowi has in Indonesia.

Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.

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