One reason is that geopolitical factors are creeping back into the market.
Let's consider what geopolitical factors may determine which of the favourites (and the UK) has a chance of winning this year's contest.
But Mr. Huang agreed with Mr. Dawson that "the risk is more in the geopolitical factors" and in the possibility that the Japanese economy may deteriorate further.
When people think of extremism as some kind of organic expression of Islam, the belligerence of radical Muslims starts to seem like an autonomous, intrinsically motivated force — something whose momentum doesn't derive from mundane socioeconomic and geopolitical factors.
But if they rise in a more significant way, because of geopolitical factors or a change in the monetary policy or investors' tolerance for risk, that has the potential to ultimately drive cap rates in the other direction.
In 1979, the oil crisis, as it was known, was exacerbated by geopolitical factors.
Apart from many geopolitical factors (wars, natural catastrophes, search for political asylum), economic factors play a very important role at determining international migration inflows and outflows.
However, Indonesia's bilateral relationship with Australia will recover soon, as geopolitical factors gain more prominence in foreign and defence policy-making.
"There is undeniably a very real risk that eurozone consumer price inflation could go lower still... barring an appreciable rise in oil and gas prices resulting from geopolitical factors hitting supplies," said Howard Archer, economist at analysis group IHS.
