Looking back at last month’s news, I realized something: over the past few months, the political map of the Middle East and Eastern Europe has changed quite a bit. Especially in Iran, it seems it has reached a major turning point.

In late February, news broke that the United States and Israel carried out a large-scale joint military operation, and that Hame-nei, who had long dominated Iran, had died. Since the Islamic Revolution in 1979, Iran has been governed under a theocratic and authoritarian system in which politics and religion are united, and that ruling structure has finally come to an end.

What’s interesting is that this event isn’t just a matter of a single country—it symbolizes a broader shrinking of global authoritarian rule. Over the past year or so, several internationally known authoritarian leaders have lost power. In addition to Hame-nei, Bashar in Syria and Maduro in Venezuela have also stepped down from their governments.

But there are still authoritarian dictators who remain in power in real time. Putin in Russia, Kim Jong-un in North Korea, Lukashenko in Belarus, and Ortega in Nicaragua. What happens to their regimes will likely have a major impact on the global economy as well.

From an investment perspective, the collapse of authoritarian regimes is likely to lead to market stabilization in the long term. If geopolitical risks decrease, the global economic system can develop more healthily, and as a result, the investment environment can improve too. So personally, I want to see all the remaining authoritarian regimes leave the stage of history. After all, that should be a big step toward achieving world peace and economic growth.