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The Economist Continental Europe Edition

The Economist Continental Europe Edition July 20, 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 Ursula von der Leyen, until recently Germany’s defence minister, was approved by the European Parliament as the next president of the European Commission, the EU’s executive arm. She secured 383 votes, nine more than the required absolute majority, suggesting that she will take office with her authority already brittle. Her first, and very tricky, task is to assign jobs to the commissioners of each country. France’s environment minister, François de Rugy, resigned. The French press had lashed out at him for spending large amounts of taxpayers’ money on lavish dinners, including fine wine and lobsters, which he says he does not like (“champagne gives me a headache”). He denies any wrongdoing. There were 1,187 drug-related deaths in Scotland last year according to official figures. That is a rate of just over 218…

5 мин.
the next 50 years in space

THE MOMENT when, 50 years ago, Neil Armstrong planted his foot on the surface of the Moon inspired awe, pride and wonder around the world. This newspaper argued that “man, from this day on, can go wheresoever in the universe his mind wills and his ingenuity contrives…to the planets, sooner rather than later, man is now certain to go.” But no. The Moon landing was an aberration, a goal achieved not as an end in itself but as a means of signalling America’s extraordinary capabilities. That point, once made, required no remaking. Only 571 people have been into orbit; and since 1972 no one has ventured much farther into space than Des Moines is from Chicago. The next 50 years will look very different (see Science section). Falling costs, new technologies,…

3 мин.
while you were tweeting

IT IS A familiar pattern. The president says something outrageous—this time Donald Trump told four black and brown-skinned Democratic congresswomen, all of whom are US citizens and three of whom were born in America, to “go back” where they came from. His supporters, who have come to accept what many of them previously found unconscionable, stay silent. His opponents, rightly appalled, lament what has happened to their country. At the same time the Trump administration makes a big policy change that attracts far less attention—in this case, an edict that directly affects tens of thousands of people a year and overturns half a century of precedent. Last year 120,000 people claimed asylum, the majority of them at the south-western border. On July 15th the White House announced that claims will no…

4 мин.
soaring stockmarket, peaking profits

OVER THE past 25 years America’s stockmarket has soared. Far from being built on thin air, this long bull run has rested on a boom in corporate profits. The worldwide earnings of all American firms, whether listed or not, have risen by 455% over this period and are now 35% above their long-term average relative to GDP. America Inc mints $1bn every five hours. Globalisation, tepid wage rises, the ascent of tech and feeble competition made the bonanza possible. But as some of these forces ebb, the era of relentlessly expanding profits is under threat. Over the next few weeks America’s blue-chip companies will report their latest profit figures, which are expected to drop slightly (see Business section). Managers and investors need to be alert, especially given the growing number of…

3 мин.
history wars

TAKE JUST about any trade fight today, and President Donald Trump’s America is at the centre of it: with Europe over cars and aeroplanes; with foreign producers of steel; with China over, well, everything. But a brawl now under way in Asia, between Japan and South Korea, has the potential to be as damaging as much of what Mr Trump has stirred up. It is also a sign that his model of abusing economic partners is spreading. Tensions between Japan and South Korea go back centuries. Japan’s colonisation of Korea between 1910 and 1945 is still resented. Japan believes a 1965 agreement resolved claims by South Korea over forced labour. It is incensed that South Korea’s supreme court last year ordered Japanese firms to compensate victims (see Banyan). Amid a widening…

3 мин.
time to bury the tools of oppression

THERE ARE many ways this editorial could fall foul of Malaysian law. If it is too critical of Malaysia’s government, or of its courts, or of its system of racial preferences for Malays (the biggest ethnic group), or of its pampered and prickly sultans, it could be deemed seditious. If it contradicts the government’s account of any given event or circumstance, it could be in breach of the Anti-Fake News Act, adopted last year. Then there is a series of restrictive laws about who can publish what and who can give offence to whom (it is essential to steer clear of anything that might be construed by a paranoid prosecutor as an insult to Islam, in particular). These rules give the police an excuse to arrest irksome journalists and hand…