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The Economist Continental Europe Edition

The Economist Continental Europe Edition March 2, 2019

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 Indian fighter jets bombed what they said was a terrorist training camp in Pakistan, in retaliation for a suicide-bombing in India which killed 40 paramilitary police. Pakistan responded by sending warplanes to strike at targets in India. In the aerial battle that followed, both countries claimed to have shot down some of the other’s fighters. Pakistan captured an Indian pilot. The fighting is the worst since 1999, and marks the first time since the two countries acquired nuclear weapons that they have conducted bombing raids against one another. Donald Trump walked away from his summit with Kim Jong Un, North Korea’s dictator, in Vietnam. The talks broke down when the North Koreans pushed for all sanctions to be lifted in exchange for dismantling Yongbyon, an old nuclear facility. America wants the…

5 мин.
modi’s dangerous moment

THE ARMIES of India and Pakistan often exchange fire across the front line in the disputed state of Kashmir. When tensions rise, one side will subject the other to a blistering artillery barrage. On occasion, the two have sent soldiers on forays into one another’s territory. But since the feuding neighbours tested nuclear weapons in the late 1990s, neither had dared send fighter jets across the frontier—until this week. After a terrorist group based in Pakistan launched an attack in the Indian-controlled part of Kashmir that killed 40 soldiers, India responded by bombing what it said was a terrorist training camp in the Pakistani state of Khyber Pakhtunkhwa. Pakistan retaliated by sending jets of its own to bomb Indian targets. In the ensuing air battle, both sides claim to have…

3 мин.
walk on down

OH, THAT DIFFICULT second date. When President Donald Trump first met Kim Jong Un in Singapore in June last year, their talks achieved very little except a change of mood. But it was enough for Mr Trump to claim that he had prevented war in Asia and that North Korea was “no longer a nuclear threat”. On February 27th and 28th the two men met again, in Hanoi in Vietnam. This time Mr Trump was under pressure to win concrete concessions from Mr Kim, but he ended up walking away with nothing, saying that he would “rather do it right than do it fast.” If you believed Mr Trump’s hyperbole after Singapore, that will come as a bitter disappointment. But if the aim is to simply make the world a little…

4 мин.
bad recipe

NOT MANY consumers have heard of 3G Capital, an investment fund, but it controls some of the planet’s best-known brands, including Heinz, Budweiser and Burger King. In the business world 3G has become widely admired for buying venerable firms and using debt and surgical cost-cuts to boost their financial returns. But after Kraft Heinz, a 3G firm, revealed a $12.6bn quarterly loss on February 21st what appeared to be a successful strategy suddenly looks like a fiasco. The implications reach beyond Kraft Heinz. In total, 3G-run firms owe at least $150bn (3G’s founders hold direct stakes in some firms while others are held by 3G’s investment funds; for simplicity, it makes sense to lump them together and call them 3G). Notable investors have got not just egg, but ketchup, on their…

3 мин.
more haste, less speed

UNDER ENOUGH heat, atoms start to fly apart. Such is the state of Britain’s political parties as Brexit day approaches. Theresa May, the Conservative prime minister, has long insisted that Britain will leave the European Union on March 29th, deal or no deal. This week she conceded that Parliament would be allowed to request more time after all. Meanwhile Jeremy Corbyn, who has been resisting calls from Labour members to back a second referendum, said it was now the party’s policy to support one. The about-turns show the extent to which both leaders have lost control of their own Brexit policies, and their parties (see Britain section). Their change of direction is welcome. Labour’s reluctant backing of a second vote has many strings attached, but Mr Corbyn has at last conceded…

3 мин.

BIG PHARMA is under fire. This week the bosses of seven large drug firms were hauled before the United States Congress to answer pointed questions about the cost of their medicines. The hearings come amid rising bipartisan anger about high drug prices. New laws are threatened (see Business section). Concerns about the affordability of medicines are not peculiar to America; they are global. In Britain the price of a new drug for cystic fibrosis has provoked fury, as has the government’s refusal to pay it. Italy is calling for the World Health Organisation to bring greater transparency to the cost of making drugs and the prices charged for them. Too rarely raised in this discussion is one promising area where pillmakers and governments alike could do more to fight disease while…