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Article analysis:

The article by Michael Zezas, Global Head of Fixed Income Research at Morgan Stanley, discusses the investment opportunities in a newly multipolar world. The author argues that global public policy choices remain relevant for long-term investing and that choices made by governments can create secular trends that can be a path to alpha. However, the article suffers from several biases and one-sided reporting.

Firstly, the article presents a biased view of the shift to a multipolar world. The author argues that the world is transitioning away from dominance by a single economic power with its set of commercial rules. However, this view ignores the fact that China is emerging as a dominant economic power with its set of commercial rules. China's Belt and Road Initiative and its push for digital currency are examples of how China is shaping global commerce.

Secondly, the article presents an unsupported claim about the great productivity race benefiting some sectors but challenging others. The author argues that US companies will invest in infrastructure and new technologies, AI in particular, to boost productivity. However, there is no evidence presented to support this claim. Moreover, it ignores the fact that investments in AI may lead to job losses and exacerbate income inequality.

Thirdly, the article presents promotional content for Morgan Stanley's research without presenting both sides equally. The author highlights Morgan Stanley's three big secular transitions for 2023 but does not provide any counterarguments or alternative views.

Fourthly, the article misses points of consideration regarding security as an investment theme. While global policymakers continue to pursue initiatives aimed at protecting advantages in key technologies and diversifying access to key materials and products, there are potential risks associated with such policies. Protectionist measures may lead to trade wars and harm global economic growth.

In conclusion, while the article provides insights into investment opportunities in a newly multipolar world, it suffers from several biases and one-sided reporting. Investors should consider alternative views and potential risks before making investment decisions based on the article's recommendations.