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    Leaders Unplugged

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    Gideon Rachman (FT): Can liberal democracy win in the 21st century?

    October 23, 2025 • by David Bach, Felix Zeltner in Leaders Unplugged • Podcast availablePodcast available

    Gideon Rachman on Trump, China, and Europe’s resilience – and why liberal democracy, though under pressure, still has a future....

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    In this episode of Leaders Unplugged, IMD President David Bach sits down with Financial Times Chief Foreign Affairs Commentator Gideon Rachman for an unflinching look at the shifting balance of global power — and what it means for leaders today.

     

    As Rachman puts it, “It’s hard to get past Donald Trump as the sort of biggest current disruptive force in international politics…because essentially he represents the United States turning on the global system that it helped to create after the Second World War.”

    And yet, amid disruption and doubt, he remains cautiously hopeful: “Can liberal democracy survive? Yes — because in the end it’s an idea that’s almost impossible to kill.”

    This conversation is a guide to understanding how politics, power, and leadership are being redefined before our eyes – and what to do about it.

    Expert

    Gideon Rachman

    Chief Foreign Affairs Commentator, Financial Times

    Gideon Rachman is Chief Foreign Affairs Commentator at the Financial Times and one of the world’s most influential geopolitical commentators. As the Financial Times’ Chief Foreign Affairs Commentator and author of The Age of the Strongman, Easternization, and Zero-Sum World, he provides deep insight into how global politics and economics shape the world of business and leadership. Gideon also hosts the Rachman Review, a podcast that gives a chance to listen in on his reflective and often probing conversations with politicians, intellectuals and analysts around the globe.

    Authors

    David Bach

    President of IMD and Nestlé Professor of Strategy and Political Economy

    David Bach is President of IMD and Nestlé Professor of Strategy and Political Economy. He assumed the Presidency of IMD on 1 September 2024. He is working to broaden and deepen IMD’s global impact through learning innovation, excellence in degree- and executive programs, and applied thought leadership. Recognized globally as an innovator in management education, Bach previously served as IMD’s Dean of Innovation and Programs.

    Felix Zeltner

    Felix Zeltner is a journalist and entrepreneur. He is the founder of Remote Daily, a media company specialized in building live talk shows for organizations around the world. He hosts Wunderbar Together, the leading German-American podcast, and is the co-author of “Stadtnomaden” (2019) and “Hype” (2024). Zeltner holds a double-degree in journalism from Munich University LMU and German Journalism School, and has received several awards for his reporting (Arte, ARD, Der Spiegel). He lives in New York City with his family.

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