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The Economist Continental Europe Edition

The Economist Continental Europe Edition 10/13/2018

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.

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The Economist Newspaper Limited - Europe
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8 min.
the world this week

Politics Jair Bolsonaro, a right-wing former army captain, led the race for Brazil’s presidency after a first round of voting. He got 46% of the vote. In the run-off he will face Fernando Haddad, the nominee of the left-wing Workers’ Party, who got 29%. In the congressional election Mr Bolsonaro’s Social Liberal Party jumped from eight lower-house seats in the outgoing congress to 52 in the new one, becoming the second-largest party. A judge in California blocked plans by the Trump administration to deport some migrants from El Salvador, Haiti, Nicaragua and Sudan who had enjoyed “temporary protected status” in America. The administration said it had ended TPS for citizens of the four countries because the emergencies that had justified giving them refuge in America had ended. In Venezuela, Fernando Albán, a councilman…

5 min.
the next recession

JUST a year ago the world was enjoying a synchronised economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China’s slide into deflation had been quelled; even the euro zone was thriving. In 2018 the story is very different. This week stockmarkets tumbled across the globe as investors worried, for the second time this year, about slowing growth and the effects of tighter American monetary policy. Those fears are well-founded. The world economy’s problem in 2018 has been uneven momentum (see Finance section). In America President Donald Trump’s tax cuts have helped lift annualised quarterly growth above 4%. Unemployment is at its lowest since 1969. Yet the IMF thinks growth will slow this year in…

3 min.
the temperature rises

FOR decades scientists have warned that rising atmospheric concentrations of greenhouse gases from the burning of fossil fuels risk adversely affecting the climate, increasing ocean acidity, the frequency of freak weather and other symptoms of planetary ill-health. But it seemed that keeping the temperature within 2°C of pre-industrial levels, although disruptive, would probably leave Earth in a chronic but stable condition. A report unveiled this week from the Intergovernmental Panel on Climate Change (IPCC), a UN-backed body that musters the science needed to inform policy, shows how optimistic that was. The survey was commissioned in 2015 by the then 195 signatories of the Paris climate agreement—which commits them to keep warming “well below” 2°C and to “pursue efforts towards 1.5°C”. The effects and technical feasibility of keeping warming within this tighter…

3 min.
the fate of a journalist

IT HAS been over a week since Jamal Khashoggi, a prominent Saudi journalist and government critic (pictured), walked into the Saudi consulate in Istanbul to get paperwork for a marriage. No one has seen him since. Turkish officials say that he was killed by a team of Saudi assassins, who dismembered his body, on orders from the top of the royal court (see Middle East and Africa section). The Saudis retort that Mr Khashoggi left the building of his own accord. If so, when? Are there witnesses or written records? Why is there no security-camera footage? And why did 15 Saudis fly in on private jets just before he disappeared, and leave shortly after? The Saudis must provide answers, or the world will assume the worst. If it transpires that Mr…

3 min.
“medicare for all”

SENATORS Bernie Sanders, Elizabeth Warren and Cory Booker are all for it, as are Kamala Harris and Kirsten Gillibrand. “Medicare for all” has also become a rallying cry for many Democratic activists as the midterms approach. Like “repeal and replace”, the Republican Party’s three-word proposal for improving on Obamacare, “Medicare for all” sounds good but is largely meaningless. Ask any five Democratic senators what they have in mind and you will get five different answers. The urge to reform American health care deserves support. America is the only rich country to lack universal coverage. Even in a booming economy, 12% of American adults remain uninsured. Though the best care they receive is world-beating, the system as a whole has high costs and disappointing results. America spends 17% of GDP on health…

5 min.
dirty capital

BRITAIN likes to see itself as a leader in the fight against illicit finance and corruption. The government has recently been talking even tougher, as worsening relations with Russia have focused attention on the number of oligarchs who have interests in London. Anyone looking to stash dirty money “should be in no doubt that we will come for them,” warns Ben Wallace, the economic-crime minister. In fact the record suggests that wrongdoers can sleep easy (see Finance section). The National Crime Agency (NCA) reckons that “many hundreds of billions of pounds” of international money is rinsed through British banks each year, much of it from kleptocrats and their cronies. Almost every big cross-border corruption case in recent years has had a connection to Britain or its palm-fringed overseas territories. British limited-liability…