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The Economist Continental Europe Edition

The Economist Continental Europe Edition 09/01/2018

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.

Land:
United Kingdom
Språk:
English
Utgiver:
The Economist Newspaper Limited - Europe
Hyppighet:
Weekly
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8 min.
the world this week

Politics A report by the UN Human Rights Council concluded that six senior generals in Myanmar should be prosecuted for genocide for leading a pogrom against Rohingya Muslims. The army has tried to deflect condemnation of its actions, but the UN said the crimes were shocking for the “level of denial, normalcy and impunity attached to them”. It also criticised Aung San Suu Kyi, Myanmar’s de facto leader, for failing to prevent the atrocities. Scott Morrison became Australia’s new prime minister, after Malcolm Turnbull was ousted by MPs in his Liberal Party. It is the fifth change of prime minister in a decade. There might be a sixth if a by-election for Mr Turnbull’s parliamentary seat in Sydney wipes out the government’s one-seat majority. A visit to North Korea by Mike Pompeo, America’s…

5 min.
peak valley

“LIKE Florence in the Renaissance.” That is a common description of what it is like to live in Silicon Valley. America’s technology capital has an outsize influence on the world’s economy, stockmarkets and culture. This small portion of land running from San Jose to San Francisco is home to three of the world’s five most valuable companies. Giants such as Apple, Facebook, Google and Netflix all claim Silicon Valley as their birthplace and home, as do trailblazers such as Airbnb, Tesla and Uber. The Bay Area has the 19th-largest economy in the world, ranking above Switzerland and Saudi Arabia. The Valley is not just a place. It is also an idea. Ever since Bill Hewlett and David Packard set up in a garage nearly 80 years ago, it has been a…

3 min.
going south

TRADE disputes have scarred the presidency of Donald Trump. So markets rose in relief when America and Mexico announced on August 27th that they had agreed on changes to the North American Free Trade Agreement (NAFTA). Mr Trump had earlier threatened to walk away from the deal, which eliminated most tariffs between its signatories after coming into force in 1994. As The Economist went to press, it was not clear whether Canada, the third party to NAFTA, would join the deal (see Finance section). But across one border, at least, the threat of a trade crisis looks a bit less likely. The relief may be short-lived. The concessions that Mexico has granted Mr Trump are for the most part economically damaging. The deal looks good for America only through the distorting…

4 min.
copying allowed

WHEN the island of Singapore became an independent country in 1965, it had few friends and even fewer natural resources. How did it become one of the world’s great trading and financial centres? The strategy, explained Lee Kuan Yew, its first prime minister, was “to develop Singapore’s only available natural resource: its people”. Today Singapore’s education system is considered the best in the world. The country consistently ranks at the top of the OECD’s Programme for International Student Assessment (PISA), a triennial test of 15-year-olds in dozens of countries, in the main three categories of maths, reading and science. Singaporean pupils are roughly three years ahead of their American peers in maths. Singapore does similarly well in exams of younger children, and the graduates of its best schools can be found…

3 min.
genocide in myanmar

WHEN Rohingya Muslims began fleeing from Myanmar to Bangladesh a year ago, the cause was obvious: the army had gone on the rampage. But the Burmese government maintained that the mass exodus from Rakhine state—723,000 people, by the UN’s count—stemmed from a simple misunderstanding. The army, it insisted, was just searching for Rohingya militants who had attacked police posts. It was only because of false rumours of military abuses, officials blithely declared, that villagers had taken fright and headed for the border. On August 24th the UN’s Human Rights Council delivered its official response to this drivel. After a year’s research, including 875 individual interviews, it published a report which affirms that the army led a pogrom that claimed the lives of more than 10,000 Rohingyas (see Asia section). Most damningly,…

3 min.
show me the money

AN OLD saying holds that markets are ruled by either greed or fear. Greed once governed cryptocurrencies. The price of Bitcoin, the best-known, rose from about $900 in December 2016 to $19,000 a year later. Recently, fear has been in charge. Bitcoin’s price has fallen back to around $7,000; the prices of other cryptocurrencies, which followed it on the way up, have collapsed, too. No one knows where prices will go from here. Calling the bottom in a speculative mania is as foolish as calling the top. It is particularly hard with cryptocurrencies because, as our Technology Quarterly this week points out, there is no sensible way to reach any particular valuation. It was not supposed to be this way. Bitcoin, the first and still the most popular cryptocurrency, began life…