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The Economist Continental Europe Edition

The Economist Continental Europe Edition 02/04/2017

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 мин.
the world this week

Politics America’s refugee policy was thrown into turmoil by Donald Trump’s executive order to halt all refugee admissions for four months and ban Syrian refugees indefinitely. In addition, all citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen were stopped from entering the United States for three months. The directive, issued without any input from the federal agencies that have to implement it, caused confusion in America and abroad, trapping people at airports. An almighty constitutional battle looms. Jeff Sessions was approved as attorney-general by the relevant committee in the Senate. Mr Trump had earlier sacked the interim attorney-general, who was appointed as a stopgap until Mr Sessions could take office, after she told lawyers at the Justice Department not to defend the refugee ban. In another controversial move Mr Trump gave…

5 мин.
an insurgent in the white house

WASHINGTON is in the grip of a revolution. The bleak cadence of last month’s inauguration was still in the air when Donald Trump lobbed the first Molotov cocktail of policies and executive orders against the capital’s brilliant-white porticos. He has not stopped. Quitting the Trans-Pacific Partnership, demanding a renegotiation of NAFTA and a wall with Mexico, overhauling immigration, warming to Brexit-bound Britain and Russia, cooling to the European Union, defending torture, attacking the press: onward he and his people charged, leaving the wreckage of received opinion smouldering in their wake. To his critics, Mr Trump is reckless and chaotic. Nowhere more so than in last week’s temporary ban on entry for citizens from seven Middle Eastern countries—drafted in secret, enacted in haste and unlikely to fulfil its declared aim of sparing…

3 мин.
bonfire of the subsidies

ONE of the many indignities associated with being poor in India is navigating the country’s thicket of welfare programmes. The central government alone runs 950 of them; the states operate many more on top. Some are big, like those doling out subsidised food and fertiliser. Many are little more than an excuse for government ministers to stage a photo-op. The Indian government this week floated the idea of replacing most of these schemes with a “universal basic income” (UBI), an unconditional cash payment that could be disbursed not just to the poor but to everyone (see page 59). In rich countries, the UBI is raised as a possible response to a world where artificial intelligence and automation put large numbers of people out of a job. But unless technology destroys jobs…

4 мин.
turkeys and blockbusters

WISE investors know that winning bets shine more brightly if they are not overshadowed by big loss-making trades. The way in which capital flowed to and from emerging markets in recent years meant that such discrimination went out of the window. Now, however, change is coming. Two influences in particular are behind this. The first is the retreat by America’s Federal Reserve from ultra-loose monetary policy. Cheap credit gave good and bad economies alike a boost; as its effect fades, capital allocation will become more disciplined. The peculiar traits of each emerging market, from macroeconomic management to productivity growth, will have a greater say in how its economy performs as well as how investors view it. The second shift is in America’s trade policy, which is taking a worrying turn towards…

3 мин.
say ar

THE history of computers is one of increasing intimacy. At first users rented time on mainframe machines they did not own. Next came the “personal computer”. Although PCs were confined to desks, ordinary people could afford to buy them, and filled them with all manner of personal information. These days smartphones go everywhere in their owners’ pockets, serving as everything from a diary to a camera to a voice-activated personal assistant. The next step, according to many technologists, is to move the computer from the pocket to the body itself. The idea is to build a pair of “smart glasses” that do everything a smart-phone can, and more. A technology called “augmented reality” (AR) would paint computerised information directly on top of the wearers’ view of the world. Early versions of…

3 мин.
vote early, vote often

HOW young is too young? Rich democracies give different answers, depending on the context: in New Jersey you can buy alcohol at 21 and cigarettes at 19, join the army at 17, have sex at 16 and be tried in court as an adult at 14. Such thresholds vary wildly from place to place. Belgian youngsters can get sozzled legally at 16. But on one thing most agree: only when you have turned 18 can you vote. When campaigners suggest lowering the voting age, the riposte is that 16- and 17-year-olds are too immature. This misses the real danger: that growing numbers of young people may not vote at all. The trend across the West is disturbing (see page 49). Turnout of American voters under 25 at presidential elections fell from…