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The Economist Continental Europe Edition

The Economist Continental Europe Edition 07/08/2017

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 North Korea tested an intercontinental ballistic missile, despite Donald Trump’s insistence this year that it would never be allowed to develop such technology. The missile appeared to have a range long enough to strike Alaska, but not Hawaii or California. There are doubts that it has the necessary warhead. Japan’s ruling Liberal Democratic Party suffered its worst ever defeat in Tokyo’s local elections. It lost to a party set up by Yuriko Koike, a disaffected former LDP member, now the capital’s governor. Myanmar said it would not admit three experts whom the UN has appointed to investigate atrocities against the Rohingya minority. A Chinese hospital that is treating Liu Xiaobo, a long-jailed dissident, for advanced liver cancer, said it would invite foreign medical experts to help. Officials have refused demands from his family…

5 мин.
the german problem

THE battle-lines are drawn. When the world’s big trading nations convene this week at a G20 summit in Hamburg, the stage is set for a clash between a protectionist America and a free-trading Germany. President Donald Trump has already pulled out of one trade pact, the Trans-Pacific Partnership, and demanded the renegotiation of another, the North American Free-Trade Agreement. He is weighing whether to impose tariffs on steel imports into America, a move that would almost certainly provoke retaliation. The threat of a trade war has hung over the Trump presidency since January. In contrast, Angela Merkel, Germany’s chancellor and the summit’s host, will bang the drum for free trade. In a thinly veiled attack on Mr Trump, she delivered a speech on June 29th condemning the forces of protectionism and…

3 мин.
containing mr kim

THE definition of an intercontinental ballistic missile (ICBM) is one that can fly at least 5,500km (3,420 miles). The weapon that North Korea tested, with characteristic belligerence, on the Fourth of July, had a range of perhaps 6,700km (see page 40). So its claim to have built an ICBM is technically correct. That is not quite as alarming as it sounds. It allows Kim Jong Un, North Korea’s dictator, to threaten Anchorage, Alaska, as well as America’s bases on Guam and in Japan and South Korea. But Los Angeles and New York are still out of reach. Moreover, North Korea has not yet mastered the technology to protect a nuclear warhead as a missile re-enters the atmosphere. And for the North to achieve much longer ranges it will have to add…

3 мин.
forget whiter than white

IN THE go-go years before the financial crisis, banks grew careless about dirty money. BNP Paribas helped sanctions-busters, HSBC channelled Mexican drug takings and Deutsche Bank moved cash for Russian launderers. When regulators began to take oversight seriously, the moneymen paid a high price. BNP alone was fined $8.9bn and temporarily barred from dollar clearing (see page 59). Dozens of other banks have faced stiff penalties. The crackdown was merited. But some of its results have been perverse. Banks have pulled away from clients they fear might commit financial crimes and therefore regard as too dangerous to serve. Many have done so indiscriminately (see page 47). Money-transfer firms, especially those handling remittances to poor countries, and charities that work in conflict zones, have been hit hard by this “derisking”. So have…

3 мин.
over 65 shades of grey

WHAT do you call someone who is over 65 but not yet elderly? This stage of life, between work and decrepitude, lacks a name. “Geriactives” errs too much on the side of senescence. “Sunsetters” and “nightcappers” risk being patronising. Perhaps “Nyppies” (Not Yet Past It) or “Owls” (Older, Working Less, Still earning) ring truer. Branding an age category might sound like a frivolous exercise. But life stages are primarily social constructs, and history shows that their emergence can trigger deep changes in attitudes. Such change is needed if the questions that swirl around rising longevity are to get a fitting answer. End of Generation zzz Before 1800 no country in the world had an average life expectancy at birth beyond 40. Today there is not a country that does not. Since 1900, more…

5 мин.
after the caliphate

IT HAS been a long war, with many horrors. But three years after Abu Bakr al-Baghdadi ascended the pulpit of the Nuri mosque in Mosul to call on all Muslims to flock to his “caliphate”, Islamic State (IS) is suffering two crushing blows. In Iraq, the jihadists have all but lost Mosul; they blew up the Nuri mosque in their last stand in a pocket of alleyways (see page 27). Mr Baghdadi, if he is alive, may have fled to Syria. But IS is faring badly there, too. American-backed fighters have pushed into the old city of Raqqa; IS’s Syrian stronghold will fall soon. With the loss of its biggest cities, the mystique of the jihadist “state” is being shattered. IS is turning into a nasty militia, and may yet become…