The Economist Continental Europe Edition June 18, 2022

Politics Lloyd Austin, the American defence secretary, urged NATO ministers meeting in Brussels to accelerate the flow of heavy weapons to Ukraine, as fighting intensified in the eastern region of Donbas, especially in the town of Severodonetsk. Although Russia has occupied most of it, Ukrainian forces are continuing to mount stiff resistance. The conflict, in its fourth month, has turned into a war of attrition, with neither side seemingly able to make big gains. A report by the Centre for Research on Energy and Clean Air, a think-tank based in Finland, found that Russia earned $97bn in revenues from oil and gas exports during the first 100 days of its invasion of Ukraine. The European Union accounted for 61% of the revenues, though China was the biggest single importer, closely followed by…

Politics Lloyd Austin, the American defence secretary, urged NATO ministers meeting in Brussels to accelerate the flow of heavy weapons to Ukraine, as fighting intensified in the eastern region of Donbas, especially in the town of Severodonetsk. Although Russia has occupied most of it, Ukrainian forces are continuing to mount stiff resistance. The conflict, in its fourth month, has turned into a war of attrition, with neither side seemingly able to make big gains. A report by the Centre for Research on Energy and Clean Air, a think-tank based in Finland, found that Russia earned $97bn in revenues from oil and gas exports during the first 100 days of its invasion of Ukraine. The European Union accounted for 61% of the revenues, though China was the biggest single importer, closely…

THREE YEARS ago The Economist used the term “slowbalisation” to describe the fragile state of international trade and commerce. After the go-go 1990s and 2000s the pace of economic integration stalled in the 2010s, as firms grappled with the aftershocks of a financial crisis, a populist revolt against open borders and President Donald Trump’s trade war. The flow of goods and capital stagnated. Many bosses postponed big decisions on investing abroad: just-in-time gave way to wait-andsee. No one knew if globalisation faced a blip or extinction. Now the waiting is over, as the pandemic and war in Ukraine have triggered a once-in-a-generation reimagining of global capitalism in boardrooms and governments (see Briefing). Everywhere you look, supply chains are being transformed, from the $9trn in inventories, stockpiled as insurance against shortages and…

THREE YEARS ago The Economist used the term “slowbalisation” to describe the fragile state of international trade and commerce. After the go-go 1990s and 2000s the pace of economic integration stalled in the 2010s, as firms grappled with the aftershocks of a financial crisis, a populist revolt against open borders and President Donald Trump’s trade war. The flow of goods and capital stagnated. Many bosses postponed big decisions on investing abroad: just-in-time gave way to wait-andsee. No one knew if globalisation faced a blip or extinction. Now the waiting is over, as the pandemic and war in Ukraine have triggered a once-in-a-generation reimagining of global capitalism in boardrooms and governments (see Briefing). Everywhere you look, supply chains are being transformed, from the $9trn in inventories, stockpiled as insurance against shortages…

WHEN THEY vote in a presidential run-off election this weekend Colombians face a grim choice between two illqualified populists. On the left, Gustavo Petro has still not wholly shaken off his long-standing sympathy for Hugo Chávez, the caudillo who destroyed Venezuela’s economy and its democracy. On the right, Rodolfo Hernández is a bullying former mayor with no team and not much of a programme beyond expelling “the thieves”, as he calls the political class. This line-up reflects voters’ deep scorn for Colombia’s mainstream politicians, even though the country has done relatively well over the past 20 years. It is the kind of polarised choice that has become worryingly familiar in Latin American elections. In a region that was discontented even before the pandemic, there no longer seem to be many…

WHEN THEY vote in a presidential run-off election this weekend Colombians face a grim choice between two illqualified populists. On the left, Gustavo Petro has still not wholly shaken off his long-standing sympathy for Hugo Chávez, the caudillo who destroyed Venezuela’s economy and its democracy. On the right, Rodolfo Hernández is a bullying former mayor with no team and not much of a programme beyond expelling “the thieves”, as he calls the political class. This line-up reflects voters’ deep scorn for Colombia’s mainstream politicians, even though the country has done relatively well over the past 20 years. It is the kind of polarised choice that has become worryingly familiar in Latin American elections. In a region that was discontented even before the pandemic, there no longer seem to be many…