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The Economist Continental Europe Edition

The Economist Continental Europe Edition December 24, 2016

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 year

The poll-defying election of Donald Trump as America’s president capped a year of triumph for populists in many places. Mr Trump’s rancorous campaign tore up every rule in the political handbook. He won in part by railing against the establishment and vowing to protect American jobs, which went down well in rustbelt states that had not voted Republican in decades. The world is waiting to find out just how many of Mr Trump’s bombastic promises will actually become American policy. He will be inaugurated on January 20th. Let’s go crazy Britain faced an uncertain future because of another populist upset: Brexit. The government lost a referendum on whether to stay in the European Union by 52-48%. David Cameron promptly resigned as prime minister without invoking Article 50, the legal means of departure,…

5 мин.
the year of living dangerously

FOR a certain kind of liberal, 2016 stands as a rebuke. If you believe, as The Economist does, in open economies and open societies, where the free exchange of goods, capital, people and ideas is encouraged and where universal freedoms are protected from state abuse by the rule of law, then this has been a year of setbacks. Not just over Brexit and the election of Donald Trump, but also the tragedy of Syria, abandoned to its suffering, and widespread support—in Hungary, Poland and beyond—for “illiberal democracy”. As globalisation has become a slur, nationalism, and even authoritarianism, have flourished. In Turkey relief at the failure of a coup was overtaken by savage (and popular) reprisals. In the Philippines voters chose a president who not only deployed death squads but bragged…

3 мин.
the hypocrites’ club

A POLITICAL brain teaser: which party in which country has promised “punitive measures” against illegal immigration, has threatened to disenfranchise people who arrived half a century ago and has told migrants to “be prepared with their bags packed”? The answer is not the National Front of France, the United Kingdom Independence Party, Jobbik of Hungary or indeed any other insurgent political party in the West. It is the ruling Bharatiya Janata Party of India. The BJP and its leader, Narendra Modi, rail against immigrants from Bangladesh, of whom there might well be more in India than there are Mexicans in America (see page 81). This nativist ranting is evidence of a nasty strain of developing-world demagoguery. Pakistan is currently trying to evict hundreds of thousands of Afghan immigrants, some of whom have…

3 мин.

IT HAS been a cracking year for hacking. Barack Obama and the CIA accused Russia of electronic meddling in an attempt to help Donald Trump win the presidency. Details emerged of two enormous data breaches at Yahoo, one of the world’s biggest internet companies; one, in 2013, affected more than a billion people. Other highlights include the hack of the World Anti-Doping Agency; the theft of $81m from the central bank of Bangladesh (only a typo prevented the hackers from making off with much more); and the release of personal details of around 20,000 employees of the FBI. The more closely you look at the darker corners of the internet, the more the phrase “computer security” looks like a contradiction in terms. Why, two decades after the internet began to move…

3 мин.
smooth sailing, until it’s not

WHEN 2016 dawned the economy that investors fretted about most was China’s. Memories of a huge stockmarket crash were still fresh. Capital was pouring out of the country as savers anticipated a devaluation of the yuan. In the event, other countries provided the year’s big upsets. And in some respects, the Chinese economy is stronger today than it has been for a couple of years. Producer prices, mired in deflation for 54 straight months, are rising at last. Corporate profits are turning up. Promises to cut overcapacity in coal and steel, and to reduce the overhang of unsold housing, have borne fruit. After three straight quarters of 6.7% annual growth, economists are converging around—you guessed it—6.7% in their forecasts for the final quarter of 2016. However, this outward stability is misleading.…

3 мин.
our country of the year

TO WIN The Economist’s country of the year award, it is not enough to be peaceful and rich. We aim to reward improvement. Previous winners include Myanmar and Tunisia, for escaping tyranny and building something resembling democracy. Switzerland, Japan and New Zealand, which were just as lovely a decade ago, need not apply. This year’s contenders include plucky Estonia. Threatened by Vladimir Putin, it is one of the few NATO members to meet its obligation to spend 2% of GDP on defence. One of the poorer countries in Europe, its schoolchildren were nonetheless the continent’s star performers in the most recent PISA science tests. Estonian head teachers have the autonomy to hire and fire and are held accountable for results. It is only a single generation since Estonia was a wretched…