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Bloomberg Businessweek

Bloomberg Businessweek 3/20/2017

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

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United States
Taal:
English
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Bloomberg Finance LP
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Weekly
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50 Edities

in deze editie

6 min.
the south korean mirage

Soon after I arrived in Seoul in 1996 as a young correspondent, a colleague brought me to a tiny restaurant buried deep in a warren of alleyways in the capital’s center—the kind of place only a local could find. Tucked into a traditional Korean house was a restaurant where customers on wooden stools and floor mats were huddled over steaming crocks of soojaebi, a hearty soup with thick, hand-torn noodles. Even back then, the eatery was a glimpse into a fast-fading past in a city relentlessly on the move, and it quickly became one of my favorites. More than two decades have passed, and large swaths of Seoul are wealthier and practically unrecognizable, including sections around those alleyways, now unfortunately refurbished into a Disneyfied version of what old Korean streets might…

2 min.
health care needs the individual mandate

To understand why the Republicans’ alternative to Obamacare won’t be an improvement, it may be helpful to step back and ask about the purpose of this or any other health-care plan. America has already decided as a society that people shouldn’t be allowed to die in the street for lack of health care. Donald Trump himself has said so, and federal law requires that almost all emergency rooms treat all patients regardless of their ability to pay. When patients lack the resources to pay a bill, or the insurance to cover it, their fellow citizens pick it up through federal or state and local income taxes. Whether they like it or not, Americans already bear the responsibility for this expense. Under Obamacare, the collective responsibility is managed through insurance rather than taxes:…

1 min.
don’t gut the u.s. weather service

The National Oceanic and Atmospheric Administration is only one of the agencies marked for drastic funding reductions to enable a boost in military spending. But the cuts reveal alarming pitfalls in the president’s approach to budgeting: a reluctance to invest in the future, a disregard for science, and a willingness to damage a well-functioning operation for minimal payoff. According to an outline recently obtained by the Washington Post, NOAA’s budget is set to lose almost $1 billion, a crippling 17 percent hit. The cuts would be especially deep to divisions that work on climate modeling, so they might seem unsurprising targets for a president who doubts the reality of climate change. But even those who question the human contribution to climate change should recognize the need to carefully monitor climate patterns…

3 min.
movers

Ups • Dutch Prime Minister Mark Rutte’s Liberal Party defeated the anti-Islam Freedom Party of Geert Wilders in an election seen as an indicator of populist sentiment in Europe. Rutte’s party, helped by higher-than-expected voter turnout, must form a coalition with other parties. • Medical helicopter company Air Methods was bought by American Securities, a private equity company, for $2.5b • The Federal Reserve raised its benchmark lending rate a quarter point, to a range of 0.75 percent to 1 percent, and projects two more increases this year. More ▷ p17 • Raphael Bostic, an economist and housing policy expert, was chosen as president of the Federal Reserve Bank of Atlanta. He’s the first black leader of one of the Fed’s 12 regional banks. • In this year’s NCAA basketball tournament, Under Armour has its…

5 min.
the rich refugees who saved trump

On the 78th floor: a Russian who once was accused of mob ties and extortion by an oligarch. On the 79th, an Uzbek jeweler investigated for money laundering who was eventually executed on the street in Manhattan. And four floors higher, a pro-Moscow Ukrainian politician whose party hired a Donald Trump adviser. When Trump World Tower at 845 United Nations Plaza began construction two decades ago as the tallest residential building in the country (90 stories), its most expensive floors attracted wealthy people getting their money out of what had been the Soviet Union. Trump needed the big spenders. He was renegotiating $1.8 billion in junk bonds for his Atlantic City resorts, and the tower was built on a mountain of debt owed to German banks. As Trump wrote in The…

3 min.
india’s war over water—and soft drinks

A potent blend of pride, economic nationalism, and mounting concerns over water security has the world’s two biggest cola brands in a bind in southern India. On March 15 shopkeepers in drought-hit Kerala state said they will join their counterparts in neighboring Tamil Nadu in boycotting locally made beverages from Coca-Cola Co. and PepsiCo Inc. Retail associations blame the companies for siphoning off groundwater and selling products tainted with pesticides. Beyond the rhetoric, academics and analysts say the U.S. soda giants have become caught up in India’s complicated battle over diminishing water resources, one that’s getting more politically fraught. India has a chronic water problem, one of the worst in the world, and fights over the resource have erupted between states and users periodically for decades. The failure of monsoon rains to…