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The upcoming American election is highlighted as the most consequential event in geopolitics due to the potential policy changes that could impact various regions. The discussion between Jacob Shapiro and Jay Martin delves into differing views on the significance of the American president in shaping geopolitical landscapes, with Jacob emphasizing pivotal moments in history where individual actions have profound effects on global dynamics. Examples like potential policy shifts towards China and Ukraine under different administrations underline the far-reaching consequences of the election on the global landscape.