Pakistan, April 24 -- The populist tide that swept the world over the past decade may finally be receding.

History will record the last two decades as an era of democratic self-harm. Across the globe, voters turned with remarkable regularity to a particular type of leader: the strongman-populist. They spoke the language of grievance, promised easy answers to complex problems, and made a virtue of tearing things down. In Hungary, Viktor Orban built an "illiberal state." In the United States, Donald Trump capitalised on the nation's insecurities linked to immigrants and cultural resentment to ascend to the presidency twice. In Bangladesh, Sheikh Hasina governed with an iron fist, suppressing opposition and rigging elections. In India, Nare...