The transition from a unipolar to a multipolar world order – exemplified by simultaneous conflicts in Ukraine and the Middle East – underscores the strategic imperative of abundant energy and large manufacturing capacities.

The US-led global order of Pax Americana is being rebooted by the Trump administration and replaced by a multipolar world.

Many have concluded that the US is the promised land while Europe is a wasteland. While there are many reasons to be impressed by the US, investors should not disregard the Old Continent, Europe.

Some investors have written China off. Some even consider the country uninvestable. However, many Chinese companies now lead their global sectors with promising prospects.

This paper discusses how passive investment strategies have driven the market narrowness and increased equity markets’ price inelasticity.