With the right portfolio of assets, property developers enjoy tremendous power over architects, builders and potential tenants. Yet even the richest have little leverage over arsonists.

       That bricks-and-mortar framing is surprisingly helpful for understanding why America’s next president is both right and wrong about his ability to reshape the global order. The Telegram is willing to risk a prediction: in his second presidency, Donald Trump will wield tremendous power over allies and countries that profit from ties with America. With adversaries ready to burn relations with the West to the ground, his grip will be less sure.

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