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The Economist Asia Edition

The Economist Asia Edition April 11, 2020

The Economist is the premier source for the analysis of world business and current affairs, providing authoritative insight and opinion on international news, world politics, business, finance, science and technology, as well as overviews of cultural trends and regular Special reports on industries and countries.

国家:
United Kingdom
语言:
English
出版商:
The Economist Newspaper Limited - Asia Pacific
Frequency:
Weekly
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51 期号

本期

1
coronavirus briefs

Joe Biden floated the idea that voters in America’s presidential election might have to participate by mail only. The captain of the uss Theodore Roosevelt was fired after asking for help when covid-19 spread among his sailors. Officials said he had not gone through the proper channels in airing his complaint. The captain was given a rousing send-off by sailors. After a backlash, the head of the navy resigned. In South Africa a man was charged with spreading fake news about testing. Scotland’s chief medical officer resigned after she broke the government’s advice by leaving her house, twice, during lock-down to visit her second home. A tiger in the Bronx Zoo is thought to have contracted covid-19 from an infected zookeeper. There is no evidence that tigers can give the disease to humans. For our…

7
the world this week

Politics Boris Johnson, Britain’s prime minister, who has contracted covid-19, was admitted to intensive care after a deterioration in his breathing. Dominic Raab, the foreign secretary, is to stand in for him chairing cabinet meetings “where necessary”. America braced itself for a surge in deaths related to the new coronavirus. There were some tentative signs of good news in Europe, as the number of people dying and the number of new cases registered each day fell in several countries, including Spain and Italy, the two worst-affected. Austria talked of starting to emerge from its shutdown, and in Denmark junior schools and kindergartens are to reopen. But Europe remains the worst-hit part of the globe. For the first time since it started publishing daily figures in January, China reported no new deaths from covid-19.…

5
the business of survival

MOST BOSSES and workers have been through economic crises before. They know that each time the agony is different—and that each time entrepreneurs and firms adapt and bounce back. Even so, the shock ripping through the business world is daunting. With countries accounting for over 50% of world GDP in lockdown, the collapse in commercial activity is far more severe than in previous recessions. The exit path from lockdowns will be precarious, with uneasy consumers, a stop-start rhythm that inhibits efficiency, and tricky new health protocols. And in the long run the firms that survive will have to master a new environment as the crisis and the response to it accelerate three trends: an energising adoption of new technologies, an inevitable retreat from freewheeling global supply chains and a worrying…

3
cut to the chase

THE EURO area is set for its deepest downturn and its sternest economic test yet. Some forecasters expect GDP to shrink by nearly a tenth in 2020. But as history is being made, it is also being repeated. Talks between Europe’s politicians about the covid-19 crisis have descended into yet another ugly row over which countries gain and lose from a common currency. The acrimony has its roots in Europe’s sovereign-debt crisis in 2010-12, when stricken southerners pleaded for solidarity and northerners refused to bail out what they saw as bad behaviour. Back then the euro area avoided collapse largely thanks to action by the European Central Bank (ECB). The euro zone has since had a chance to pass deep reforms in order to deal with its fragility once and for…

3
wisconsin’s warning

DEMOCRACIES AROUND the world are wondering how to hold elections during a pandemic. The state of Wisconsin, which may well decide the outcome of America’s presidential election in November, has just provided a lesson in how not to do it. On April 7th, despite a shelter-in-place order from the governor and warnings from the White House about the severity of America’s epidemic, Wisconsin held votes for several offices, including the state Supreme Court. The day before the vote was due, Wisconsin’s Democratic governor, Tony Evers, issued an executive order postponing voting in person until June. That order was disputed by the state’s Republican Party and its challenge went all the way to the state Supreme Court. The judges sided with the Republicans, so an election that had apparently been cancelled a…

4
break the glass

EMERGING MARKETS are battling a financial crisis as well as a public-health emergency. Since late January foreign investors, desperate to shed risk, have been withdrawing their cash from poor countries. At the same time falling global trade, depressed commodities prices and vanishing tourists have put export revenues, and hence the supply of foreign currency, into free fall. This has left many countries struggling to pay for imports and to service their dollar-denominated debts, let alone fund emergency health or economic programmes. Over 90 countries have approached the IMF, the lender of last resort for governments, to ask for help. The fund will need to respond on an unprecedented scale. The $96bn investors have already withdrawn from emerging-market stocks and bonds dwarfs past capital outflows, according to the Institute of International Finance,…