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The Economist Asia Edition

The Economist Asia Edition November 14, 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.

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

本期

1
coronavirus briefs

The European Commission agreed to buy up to 300m doses of the vaccine developed by Pfizer and BioNTech. Russia’s claims that its homegrown “Sputnik V” vaccine is 92% effective in preventing infection, a similar success rate to Pfizer’s, were met with scepticism. The number of people in hospital with covid-19 in America reached 65,000, a new record. Europe’s death toll from the virus passed 300,000. Lebanon announced a new lockdown that will last until the end of November. Authorities in Tehran ordered restaurants and shops to close early amid rising cases. Denmark’s government admitted it could not force mink farmers to cull livestock but recommended they do so, after new strains of covid-19 jumped from the animals to people. For our latest coverage of the virus and its consequences please visit economist.com/ coronavirus or download…

7
the world this week

Politics Donald Trump refused to concede defeat in America’s election, despite Joe Biden’s passing the required 270 electoral-college votes. The president is pursuing several legal challenges to states’ results. None is expected to succeed. Mr Biden’s transition team is considering suing to obtain federal funds and information usually granted to incoming administrations. World leaders queued up to congratulate Mr Biden. Among the strongmen who have so far demurred are Vladimir Putin of Russia, Xi Jinping of China and Jair Bolsonaro of Brazil. Mr Bolsonaro railed against Mr Biden’s proposals to punish Brazil for not protecting the Amazon rainforest, saying, “Diplomacy alone won’t work. Once the saliva runs out, you have to have gunpowder.” Joe Biden announced a covid-19 advisory board to deal with the pandemic. He said his response would be led “by…

5
suddenly, hope

NINE LONG years elapsed between the isolation of the measles virus in 1954 and the licensing of a vaccine. The world waited for 20 years between early trials of a polio vaccine and the first American licence in 1955. Marvel, then, at how the world’s scientists are on course to produce a working vaccine against SARS-CoV-2, the virus that causes covid-19, within a single year. And not just any vaccine. The early data from a final-stage trial unveiled this week by Pfizer and BioNTech, two pharma companies, suggests that vaccination cuts your chances of suffering symptoms by more than 90%. That is almost as good as for measles and better than the flu jab, with an efficacy of just 40-60% (see Briefing). Suddenly, in a dark winter, there is hope. Not surprisingly,…

3
great expectations

IN MUCH OF the world, and nowhere more so than among America’s allies, Joe Biden’s victory has come as a great relief. Under his presidency there will be no more bullying and threats to leave NATO. America will stop treating the European Union as a “foe” on trade, or its own forces stationed in South Korea as a protection racket. In place of Donald Trump’s wrecking ball, Mr Biden will offer an outstretched hand, working co-operatively on global crises, from coronavirus to climate change. Under Mr Trump, America’s favourability ratings in many allied countries sank to new lows. Mr Biden promises to make America a beacon again, a champion of lofty values and a defender of human rights, leading (as he put it in his acceptance speech) “not only by…

4
the economy biden inherits

AMERICA’S VOTERS did not elect Joe Biden because they thought he would be the best steward of the economy. The economy may well define his presidency nonetheless. Mr Biden will take office in January amid a crisis brought about by the pandemic, which is capable of causing immensely more economic harm before vaccination is widespread. He will also inherit a business landscape in the throes of a once-in-a-generation shift, as technology becomes more embedded in everyday life and in more industries—a shift that has been simultaneously hastened and overshadowed by the disease. Whether Mr Biden succeeds or fails depends on how he manages these twin sources of change. The good news is that GDP has rebounded impressively from its collapse in the spring. The unemployment rate has dropped much faster than…

3
beyond buffett

FOR A MOMENT this week investors could afford to ignore stockmarket superstars like Amazon and Alibaba. As news of a vaccine broke, a motley crew of more jaded firms led Wall Street higher, with the shares of airlines, banks and oil firms soaring on hopes of a recovery. The bounce has been a long time coming. So-called value stocks, typically asset-heavy firms in stodgy industries, have had a decade from hell, lagging behind America’s stockmarket by over 90 percentage points. This has led to a crisis of confidence among some fund managers, who wonder if their framework for assessing firms works in the digital age (see Briefing). They are right to worry: it needs upgrading to reflect an economy in which intangibles and externalities count for more. For almost a century…