The Economist Latin America January 29, 2022

Politics Russia moved yet more troops close to its border with Ukraine. Vladimir Putin’s party claimed, without evidence, that Ukraine’s government was planning to attack Russian-speakers in eastern Ukraine, and appealed for Mr Putin to lend them military assistance. Western diplomats warned Russia of severe consequences if it invades Ukraine. Highlevel diplomatic talks yielded no progress in defusing tensions, and America and some other countries told embassy staff to leave Ukraine. America and Britain sent more defensive equipment to help Ukraine defend itself against a possible attack. NATO beefed up its defences of member states in Russia’s shadow. America promised to help Europe secure more gas, in case Mr Putin decides to restrict supplies. An electoral college consisting of 1,009 MPs, senators and representatives of regional bodies set about choosing Italy’s next president.…

Politics Russia moved yet more troops close to its border with Ukraine. Vladimir Putin’s party claimed, without evidence, that Ukraine’s government was planning to attack Russian-speakers in eastern Ukraine, and appealed for Mr Putin to lend them military assistance. Western diplomats warned Russia of severe consequences if it invades Ukraine. Highlevel diplomatic talks yielded no progress in defusing tensions, and America and some other countries told embassy staff to leave Ukraine. America and Britain sent more defensive equipment to help Ukraine defend itself against a possible attack. NATO beefed up its defences of member states in Russia’s shadow. America promised to help Europe secure more gas, in case Mr Putin decides to restrict supplies. An electoral college consisting of 1,009 MPs, senators and representatives of regional bodies set about choosing…

SELDOM IN THE field of human conflict did so much hang on the whims of one man. Is Vladimir Putin about to invade Ukraine, as the massing Russian troops on its borders suggest? Or is he bluffing, to extort concessions from his neighbour and the West? No one can be sure of Mr Putin’s intentions. Even his own foreign minister seems to be kept guessing. But, if fighting is about to break out, the world needs to understand the stakes. Perhaps Mr Putin is planning a full-scale invasion, with Russian forces thrusting deep into Ukraine to seize the capital, Kyiv, and overthrow the government. Or he may seek to annex more territory in eastern Ukraine, carving out a corridor linking Russia with Crimea, the Ukrainian peninsula Mr Putin grabbed in 2014.…

AFTER THE interest-rate cuts and hectic central-bank bondbuying of early 2020, investors came to believe that centralbank stimulus would pretty much last for ever. Today, however, as investors come to terms with the end of the era of free money, financial markets are in spasms. Markets now expect interest rates to increase four times in 2022 as the Fed fights the inflation that has lifted growth in the consumer-price index to 7%, a level barely imaginable a year ago. On January 26th the Fed confirmed that it would end its bond-buying programme (see Free exchange) and signalled that it would probably raise rates soon. This hawkish shift is the most important among many to have taken place in the world’s central banks in recent months. But it has only recently begun…

SELDOM IN THE field of human conflict did so much hang on the whims of one man. Is Vladimir Putin about to invade Ukraine, as the massing Russian troops on its borders suggest? Or is he bluffing, to extort concessions from his neighbour and the West? No one can be sure of Mr Putin’s intentions. Even his own foreign minister seems to be kept guessing. But, if fighting is about to break out, the world needs to understand the stakes. Perhaps Mr Putin is planning a full-scale invasion, with Russian forces thrusting deep into Ukraine to seize the capital, Kyiv, and overthrow the government. Or he may seek to annex more territory in eastern Ukraine, carving out a corridor linking Russia with Crimea, the Ukrainian peninsula Mr Putin grabbed in…

IN THE DECADE when its generals allowed it some semblance of democracy, Myanmar flourished. The government brokered a landmark ceasefire agreement with half of the country’s many rebel groups. Poverty rates plummeted and foreign investment surged. The economy grew annually by an average of 6.6%. A middle class emerged. In just one short year, the generals have undone the gains of the past decade (see Asia section). Employment has fallen. Dollar-a-day poverty has more than doubled, engulfing nearly half the population. In cities it has tripled. The currency has plunged by 60% in the past five months. The economy is 30% smaller than was forecast before the coup and the pandemic. Electricity blackouts are widespread. Schools are, in effect, shut. Foreign investors are heading for the exit, too. TotalEnergies, a French energy…