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Bloomberg Businessweek

Bloomberg Businessweek 7/17/2017

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50 Edities

in deze editie

3 min.
in brief

Asia ● Dalian Wanda Group is giving up on its vision of a theme park empire bigger than Disney’s and selling $9.3b in hotels and tourist attractions to Sunac China Holdings. ● Apple said it would build its first data center in China, complying with a new law requiring companies to store Chinese user data there. ● North Korea leader Kim Jong Un celebrated his country’s latest successful missile launch with a pop concert on July 11. According to the Associated Press, anthems performed included Song of Hwasong Rocket and Make Others Envy Us. • “You are always being served by grandmothers.” Qatar Airways CEO Akbar Al Baker, describing U.S. airlines as he noted the average age of his cabin crews is 26. The comment drew a rebuke from American Airlines, which has been trading…

7 min.
the bureaucrats who came in from the cold

A few capital cities acquire political personalities of their own, not always lovable ones. Donald Trump ran against “Washington” as much as he did against Hillary Clinton. For many people in Europe, “Brussels” is a political character—a bureaucrat plotting an ever-closer European union. That caricature has just staged a recovery that would put Lazarus to shame. On the eve of the Brexit vote in June 2016, many people sensed that Brussels’ pulse was fading. Two of the European Union’s great projects from the 1990s—the euro and the Schengen Area of free movement—were in different forms of chaos, even as the third, the single market, was still incomplete. Businesspeople, especially from the Anglo-Saxon world, fumed at the EU’s unaccountable bureaucracy. Mismanagement had left the continent with a sluggish economy, too many insolvent…

2 min.
with north korea, no alternative to patience

North Korea’s test of an intercontinental ballistic missile changes the strategic landscape in Asia—yet the options for dealing with Pyongyang are as ugly as ever. The overriding need is to exploit these limited possibilities more thoroughly and creatively. The Hwasong-14 ballistic missile launched on the Fourth of July could be capable of reaching Alaska, and the development of a missile that can hit the continental U.S. is only a matter of time. One day soon, defending Seoul or Tokyo could put U.S. cities at risk. The Trump administration’s original hope—that China would use its economic leverage to make North Korean dictator Kim Jong Un back down—wasn’t thought through. China’s fear of a collapse that would result in a unified Korean Peninsula, dominated by South Korea and hosting U.S. troops, far outweighs its…

5 min.
china needs help having babies

On a recent Thursday afternoon, a visitor from northern China is taking a smoking break outside the Beijing Perfect Family Hospital. Cigarettes are one reason he’s come to the capital: He reckons his nicotine habit played a part in damaging his fertility. The 38-year-old construction businessman, who asks to be identified only by his last name, Zhang, has worked hard to build a business with his wife, who’s 35. But when they were finally ready to have kids a few years ago, it was a struggle. So the Zhangs became one more couple among the estimated more than 1 million Chinese couples who seek assisted-reproduction therapies annually. A paradox has emerged in China: As the country relaxes its one-child policy, factors such as lower sperm counts and attempts to get pregnant…

6 min.
where dead celebrities go to live

In April, Shannon Gagliardi, a 48-year-old nurse practitioner from Louisville, took the vacation of a lifetime. She’s a fan of Elvis Presley and still considers missing a 1976 New Year’s Eve concert by the King in Pittsburgh one of the biggest regrets of her life—even though she was only 6 at the time. So it was a dream come true when she stayed three nights at the Guest House at Graceland with her sister, brother, niece, and grandniece. Missing from the family pilgrimage to Elvis’s storied estate in Memphis: Gagliardi’s 17-year-old daughter, who didn’t know what Graceland was. The range of a mother’s and daughter’s excitement about a trip to Elvis’s homestead shows both the business promise and the generational risk facing Jamie Salter, whose Authentic Brands Group LLC recently completed…

5 min.
mobile carriers start hanging up on africa

“The days of going in with a new greenfield license are gone” Back when African countries were auctioning off mobile licenses by the boatload to serve the fast-growing region’s relatively young, tech-savvy population, investing in the continent seemed like a no-brainer. Now, some of the world’s biggest wireless carriers are wondering if they made a mistake. Increasing regulatory scrutiny, slowing economies in commodity-dependent nations, and a lack of expansion opportunities in sub-Saharan Africa are making it harder for international operators such as Vodafone Group, Orange, and Bharti Airtel to expand. That’s left them with a difficult choice: pull back or double down in a weakening market. Two companies that have decided to beat at least a partial retreat are Luxembourg-based Millicom International Cellular SA, which has disposed of its Senegal and Democratic…