At times during the credit storm, the fact that America was about to elect a new president seemed a somewhat trivial affair as investment banks went bust, lay-offs mounted and markets gyrated on a minute-by-minute basis.

Yet whoever wins the race to the White House is bound to have a significant influence on policy, even if, in a globalised world, their power is likely to be more limited than that enjoyed by many past residents of 1600 Pennsylvania Avenue.