No Room For Stability In A Volatile World

Among the many issues discussed at the Mines to Market conference held in Mumbai at the start of this week, as well as at most other international gatherings, was that of volatility. Whether it's political or financial volatility – and the latter is normally the result of an occurrence of the former – it's bad for business and usually brings about a decline in sales.

It takes a while for consumers to feel the confidence to get back out after a terrifying, out of the ordinary incidence of some sort has taken place. And that is all the more the case when we are talking about a terror attack. The horrific terrorist outrage in London yesterday (Wednesday) showed that we are never really safe anywhere.

Such attacks have taken place in Israel, and now they are becoming a sort of fact-of-life in Europe, with previous such incidents in Nice and Berlin, as well as a range other attacks by so-called lone-wolf terrorists. The fact that it took place on the one-year anniversary of the bomb attacks at Brussels airport was also a deliberate message. With the UK keeping its terror alert status at 'severe', the attack has inevitably raised fears of further such attacks across Europe.

Despite the work of security services across the continent in foiling other, largely unpublicized, attacks, the public is aware that terror tactics change in order to become more effective and outwit the forces monitoring the terrorists. Unfortunately, that means, at a certain point, they will inevitable succeed. Armed police officers on patrol, though reassuring, also remind the public about the high-level security risk.

The impact is clear on tourism and economic activity, and unsure governments and uncertain citizens are more inclined to give up economic and political freedoms in exchange for security. Meanwhile, there is also a rise in suspicion about foreign cultures, immigrant workers and refugees as is being seen throughout Europe.

Volatility? Frankly, it's the new normal. There will always be an unusual event that will create confusion and concern, so business has to concentrate on doing what it does best at whatever point in the pipeline it's located.

Have a pleasant – and safe – weekend.