The Economist Magazine– May 27, 2023 issue: The race to become the Republican nominee for the presidential election in America next year is properly under way. And Donald Trump has a huge, perhaps insurmountable, lead.
Hopes of depriving the former president of the Republican nomination are fading
Belatedly and nervously, the would-be assassins have been lining up. On May 22nd Tim Scott, a senator from South Carolina, became the latest Republican to announce a run for president. Greater fanfare accompanied the official declaration (on Twitter) on May 24th that Ron DeSantis, the governor of Florida, is joining the race for the Republican nomination. He has been widely heralded as the candidate with the best chance of defeating the favourite, Donald Trump. But even as more plotters step forward, the chances of a successful coup to overthrow Mr Trump are growing slimmer by the day.
In “wall-e”, a film released in 2008, humans live in what could be described as a world of fully automated luxury communism. Artificially intelligent robots, which take wonderfully diverse forms, are responsible for all productive labour. People get fat, hover in armchairs and watch television.
Viktor Orban and Xi Jinping bond over their anti-Americanism
To ears accustomed to a swelling chorus of China-scepticism in the European Union, the language of Hungarian diplomats is striking. Not for them the common talk of European officials about the need to “de-risk” relations with China and to treat it as a “systemic rival”. Co-operation between Hungary and China presents “opportunities rather than risks”, said Hungary’s foreign minister, Peter Szijjarto, in Beijing on May 15th. Wang Yi, China’s foreign-affairs overlord, told him that relations between the countries had entered their “best period in history”.
The Globalist, May 19, 2023: Fiona Wilson, Monocle’s Asia editor and Tokyo bureau chief, tells us about Japan’s aims ahead of the G7 meeting in Hiroshima; then Florida governor Ron DeSantis is expected to enter the 2024 presidential race, and we examine the state of Cambodian democracy ahead of the July elections.
Plus: the latest from the Venice Biennale with Monocle’s Nic Monisse, and Andrew Mueller’s analysis of the week.
Rising interest rates have left banks exposed. Time to fix the system—again
Only ten days ago you might have thought that the banks had been fixed after the nightmare of the financial crisis in 2007-09. Now it is clear that they still have the power to cause a heart-stopping scare. A ferocious run at Silicon Valley Bank on March 9th saw $42bn in deposits flee in a day. svb was just one of three American lenders to collapse in the space of a week.
March 6, 2023: A selection of three essential articles read aloud from the latest issue of The Economist. This week, how to cure obesity, Ron DeSantis’s foreign policy doctrine (10:53) and why hype can help and hinder entrepreneurs (17:00).
Where once disagreements concerned differing interpretations of liberalism’s demands or balancing liberalism’s conflicting goals of freedom and equality, now populist movements on both the left and the right are challenging the legitimacy of liberalism itself.