The Economist Continental Europe Edition June 26, 2021

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.

Страна:
United Kingdom
Язык:
English
Издатель:
The Economist Newspaper Limited - Europe
Периодичность:
Weekly
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1 мин.
coronavirus briefs

Indonesia recorded its highest number of daily cases—over 14,500—as infections surged following a religious holiday and the spread of the Delta variant. Hospital beds in Jakarta are 80% full. Nationally, less than 10% of people over the age of 12 have received a single vaccine dose. Japan said it would limit the number of spectators at Olympic events to 10,000, but insisted the games would start on July 23rd. A court in Brussels chastised AstraZeneca for breaching its contract with the EU on vaccines, but did not support the EU’s demand that the drug company deliver 120m doses by the end of June. Calls were made for the British government to publish its risk assessment of the recent g7 summit it hosted in Cornwall, after a surge of infections were recorded around the…

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7 мин.
the world this week

Politics Ebrahim Raisi, a conservative cleric and former chief of the judiciary, won Iran’s presidential election with 62% of the vote. His main rivals had all been barred from running. Turnout was less than 49%, a record low, as many liberal and moderate Iranians stayed at home. Mr Raisi promised to continue working with America and other world powers to resuscitate the nuclear deal signed in 2015, but said he would not meet Joe Biden. And he insisted that Iran’s ballistic missile programme and its support for foreign militias were not negotiable. Kenneth Kaunda, the founding president of Zambia, died at the age of 97. He is remembered as a giant of Africa’s liberation from colonial rule and for stepping down when he lost an election in 1991. He also locked up…

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5 мин.
still going strong

ON JULY 1ST China’s Communist Party will celebrate its 100th birthday. It has always called itself “great, glorious and correct”. And as it starts its second century, the party has good cause to brag. Not only has it survived far longer than its many critics predicted; it also appears to be on the up. When the Soviet Union imploded in 1991, many pundits thought that the other great communist power would be next. To see how wrong they were, consider that President Joe Biden, at a summit on June 13th, felt the need to declare not only that America was at odds with China, but also that much of the world doubted “whether or not democracies can compete”. One party has ruled China for 72 years, without a mandate from voters.…

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3 мин.
new horizons

DURING MOST of the pandemic, exceptional uncertainty about the future of America’s economy has been met with exceptional certainty that monetary policy would stay very loose. No longer. At the Federal Reserve’s meeting in June policymakers signalled that they may raise interest rates in 2023, sooner than they previously thought, and upgraded their inflation forecasts for this year. Investors have spent a week struggling to digest the news. Long-term bond yields, which move inversely to prices, first rose and then fell beneath their initial level. Shares fell steeply and then recovered. Emerging-market currencies, which suffer when American monetary policy tightens, have fallen against the dollar. The Fed’s future interest-rate decisions can suddenly be counted among the many unknowns hanging over the economy as it recovers from the pandemic. Already on the…

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4 мин.
must try harder

COVID-19 RARELY makes children very ill. In the year to April the chance of an American aged 5-14 catching and dying from the virus was about one in 500,000—roughly a tenth of a child’s chance of dying in a traffic accident in normal times. Yet schools around the world have been wholly or partly closed for about two-thirds of an academic year because of the pandemic. The immense harm this has done to children’s prospects might be justified if closing classrooms were one of the best ways of preventing lethal infections among adults. But few governments have weighed the costs and risks carefully. Many have kept schools shut even as bars and restaurants open, either to appease teachers’ unions, whose members get paid whether they teach in person or not, or…

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3 мин.
radically reasonable

JOE MANCHIN, the Democratic senator from West Virginia, is a paradoxical figure. He has torpedoed many of his party’s most cherished plans, from climate-change legislation to scrapping the Senate filibuster. Yet without that willingness to confound his fellow Democrats, Mr Manchin could not win in a state where Donald Trump took nearly 70% of the vote in November. Democrats owe him their one-vote majority in the Senate, something they are quite fond of. As a result, Mr Manchin’s proposal for reforming voting laws is worth taking seriously—all the more so now, given that this week the blockbuster elections bill favoured by most of his party, known as HR1, was sidelined thanks to the filibuster Mr Manchin wants to preserve. His compromise has three main parts: ending gerrymandering, making the registration of…