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The Economist Asia EditionThe Economist Asia Edition

The Economist Asia Edition July 27, 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.

國家/地區:
United Kingdom
語言:
English
出版商:
The Economist Newspaper Limited - Asia Pacific
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51 期號

本期

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the world this week

Politics Boris Johnson took over as Britain’s prime minister from Theresa May after winning the Conservative Party’s leadership contest. Mr Johnson was the favourite from the outset and won comfortably, taking 66% of the vote from the 160,000 party members on an 87% turnout. Some wonder how long he will last. Brexit has already claimed two British prime ministers. When Parliament scrutinises his Brexit proposals Mr Johnson is as likely to struggle as much as Mrs May did. Mr Johnson started naming his new ministers, aiming to move away from the pale, male and stale image of previous cabinets. Sajid Javid was appointed chancellor of the exchequer, Dominic Raab took charge at the Foreign Office and Priti Patel became home secretary. There were two other themes in his picks: the new cabinet…

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brothers in arms

IT IS THE love triangle of global politics. Since the second world war, China, Russia and the United States have repeatedly swapped partners. The collapse of the Sino-Soviet pact after the death of Josef Stalin was followed by Richard Nixon’s visit to China in 1972 and Mikhail Gorbachev’s detente with China 30 years ago. Today’s pairing, between Vladimir Putin and Xi Jinping, was cemented in 2014 after Russia annexed Crimea. In each case the country that was left on its own has always seemed to pay a price, by being stretched militarily and diplomatically. This time is different. Though America is out in the cold, the price is falling chiefly on Russia. China dominates every aspect of the two countries’ partnership. Its economy is six times larger (at purchasing-power parity) and…

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here we go

“DO YOU LOOK daunted? Do you feel daunted?” asked Boris Johnson of the crowd of Conservative Party members who had just elected him party leader, and thus prime minister. The question was rhetorical, but many of them did look nervous—and so they should. Britain now has its third Tory prime minister since the vote to leave the European Union three years ago. Its deadlocked Parliament is refusing to back the exit deal struck with the EU, even as an October 31st deadline approaches. The pound is wilting at the prospect of crashing out with no deal. Steering a course out of this mess requires an extraordinarily deft political touch. Yet the Tories have gambled, choosing a populist leader who is nobody’s idea of a safe pair of hands. Mr Johnson, who…

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hot as hell

IN RECENT DAYS heatwaves have turned swathes of America and Europe into furnaces. Despite the accompanying blast of headlines, the implications of such extreme heat are often overlooked or underplayed. Spectacular images of hurricanes or floods grab attention more readily, yet heatwaves can cause more deaths. Heat is one of climate change’s deadliest manifestations. Sometimes its impact is unmistakable—a heatwave in Europe in 2003 is estimated to have claimed 70,000 lives. More often, though, heatwaves are treated like the two in the Netherlands in 2018. In just over three weeks, around 300 more people died than would normally be expected at that time of year. This was dismissed as a “minor rise” by officials. But had those people died in a flood, it would have been front-page news. The havoc caused…

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do not escalate

USUALLY THE pre-eminence of the dollar is a source of pride for whoever occupies the White House. But for weeks President Donald Trump has been grumbling about the consequences of its status and its current strength. He sees other countries’ trade surpluses with America as evidence of a “big currency manipulation game” (see Finance section). He has dropped hints that it is a game that America ought to play, too. If that hurts foreign holders of dollars, so be it. So far this is mostly a war of words, but it could easily escalate into something worse. If America concludes that its trade partners are using unfair tricks to weaken their currencies, it may claim the right to do the same. There is even speculation that direct intervention to weaken the…

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rebooted

IT MUST FEEL good to be back on top—and this time, almost liked. Twenty years ago Microsoft was considered an evil empire, scheming for domination and embroiled in a bruising antitrust battle with America’s Justice Department. Five years ago, having dozed through the rise of social media and smartphones, it was derided as a doddery has-been. Now, after several stellar quarters—this month it reported revenue of $33.7bn, up by 12% year on year—Microsoft is once again the world’s most valuable listed company, worth over $1trn. How did Satya Nadella, the boss since 2014, pull off this comeback? And with American trustbusters starting on a new review (see Business section) of “search, social media, and some retail services online”—ie, Google, Facebook and Amazon—what can the other tech giants learn from Microsoft’s…

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