Tag Archives: The Economist Magazine

Previews: The Economist Magazine – August 19, 2023

The Economist Magazine (August 19, 2023): This week’s issue features Why are China’s young people so disillusioned?; China’s defeated youth – When Xi Jinping plays down their individual aspirations in favour of the collective interest, he adds to their gloom.

Why are China’s young people so disillusioned?

Xi Jinping wants them to focus on the party’s goals. Many cannot see why they should

The crowd did not seem excited to see George Michael and Andrew Ridgeley. When Wham! became the first Western pop group to perform in Communist China, the audience was instructed to stay in their seats. It was 1985 and, despite appearances, the young people in attendance were in fact joyous. The country around them was by no means free, but it was starting to reform and open up. Over the next three decades the economy would grow at a rapid pace, producing new opportunities.

China’s defeated youth

Young Chinese have little hope for the future. Xi Jinping wants them to toughen up

A worker tests parts for e-cigarettes on a production line

In the southern city of Huizhou an electronics factory is hiring. The monthly salary on offer is between 4,500 and 6,000 yuan (or $620 and $830), enough to pay for food and essentials, but not much else. The advertisement says new employees are expected to “work hard and endure hardship”. The message might have resonated with Chinese of an older generation, many of whom worked long hours in poor conditions to give their children a brighter future. But many of those children now face similar drudgery—and are unwilling to endure it. “I can’t sit on an assembly line,” says Zhang, a 20-something barista with dyed-red hair at a local tea shop. He scoffs at the idea of making such sacrifices for so little gain. The job at the tea shop pays just 4,000 yuan a month, but he enjoys chatting up customers.

Previews: The Economist Magazine – August 12, 2023

Costly and dangerous: Why Biden’s China strategy isn’t working

The Economist Magazine (August 12, 2023 issue): Why Biden’s China strategy is not working; Saudi Arabia upends sport; The attack on universal values; Twitternomics lives on; How green is your EV and more…

Costly and dangerous: Why Biden’s China strategy isn’t working

Liam Eisenberg

Supply chains are becoming more tangled and opaque

On august 9th President Joe Biden unveiled his latest weapon in America’s economic war with China. New rules will police investments made abroad by the private sector, and those into the most sensitive technologies in China will be banned. The use of such curbs by the world’s strongest champion of capitalism is the latest sign of the profound shift in America’s economic policy as it contends with the rise of an increasingly assertive and threatening rival.

How America is failing to break up with China

The countries’ economic ties are more profound than they appear

A briefcase being handed from one person to another with their hands handcuffed together
image: alberto miranda

When it comes to tracing the geography of global supply chains, few companies provide a better map than Foxconn, the world’s largest contract manufacturer. This year the Taiwanese giant has built or expanded factories in India, Mexico, Thailand and Vietnam. The Chinese production sites once loved by Western companies are firmly out of fashion. Souring relations between the governments in Washington and Beijing have made businesses increasingly fretful about geopolitical risks. As a consequence, in the first half of the year, America traded more with Mexico and Canada than it did with China for the first time in almost two decades. The map of global trade is being redrawn.

Previews: The Economist Magazine – July 29, 2023

The overstretched CEO | Jul 29th 2023 | The Economist

The Economist Magazine (July 29, 2023 issue): The overstretched CEO; Larry Fink demonised – All he wanted to do was save the planet while making his firm a fortune. Henry Tricks meets the face of woke capitalism; The greatest bank heist ever – Criminals stole $2.5bn from Iraq’s largest state bank in broad daylight. Nicolas Pelham follows their trail, and more…

The overstretched CEO

Companies are increasingly caught up in governments’ competing aims. What to do?

The world should not let Vladimir Putin abandon the grain deal

Here is how to get him to sign up again

Israel has lurched closer to constitutional chaos

But there are still ways to step back from the brink

Previews: The Economist Magazine – July 22, 2023

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The Economist Magazine- July 22, 2023 issue: Making babymaking better – A special report on the future of fertility; How Cities can respond to Extreme Heat; The World Economy is still in danger, and more…

IVF is failing most women. But new research holds out hope

Fertility is still poorly understood

A smiling fetus with it's thumb up

After louise brown was born in Manchester in July 1978, her parents’ neighbours were surprised to see that the world’s first “test-tube baby” was “normal”: two eyes, ten fingers, ten toes. In the 45 years since, in vitro fertilisation has become the main treatment for infertility around the world. At least 12m people have been conceived in glassware. An ivf baby takes its first gulp of air roughly every 45 seconds. ivf babies are just as healthy and unremarkable as any others. Yet to their parents, most of whom struggle with infertility for months or years, they are nothing short of miraculous.

How cities can respond to extreme heat

Officials from Beijing to Phoenix are grappling with unbearable temperatures

A man pours water on his head to cool off amid searing heat in Phoenix, Arizona.

The best thing that has happened in Phoenix, Arizona, since the beginning of July is that the electricity grid has kept functioning.

This has meant that during a record-breaking run of daily maximum temperatures above 43°C (110°F), still in progress as The Economist went to press, the houses, indoor workplaces and publicly accessible “cooling stations” in the city have been air-conditioned. There have been deaths from heat stroke and there will be more; there has been a lot of suffering; and there will have been real economic losses. But if Arizona’s grid had gone out, according to an academic quoted in “The Heat Will Kill You First”, a new book, America would have seen “the Hurricane Katrina of extreme heat”.

Previews: The Economist Magazine – July 1, 2023

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The Economist Magazine- June 24, 2023 issue: The humbling of Vladimir Putin; The Wagner mutiny has left Vladimir Putin looking dangerously exposed; Can Ukraine capitalise on chaos in Russia?

The humbling of Vladimir Putin

The Wagner mutiny exposes the Russian tyrant’s growing weakness. But don’t count him out yet

Can Ukraine capitalise on chaos in Russia?

Ukrainian militaries supervise as a M142 HIMARS launches a rocket towards Bakhmut Ukraine

Ukraine’s counter-offensive is going slowly

The Wagner mutiny has left Putin dangerously exposed

Factions close to the Russian president are thinking about life after him

Previews: The Economist Magazine – June 24, 2023

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The Economist Magazine- June 24, 2023 issue:

Investors must prepare for sustained higher inflation

The costs of taming price rises could prove too unpalatable for central banks

At first glance the world economy appears to have escaped from a tight spot. In the United States annual inflation has fallen to 4%, having approached double digits last year. A recession is nowhere in sight and the Federal Reserve has felt able to take a break from raising interest rates. After a gruesome 2022, stockmarkets have been celebrating: the s&p 500 index of American firms has risen by 14% so far this year, propelled by a resurgence in tech stocks. Only in Britain does inflation seem to be worryingly entrenched.

Building Ukraine 2.0

For Russia’s war to fail, Ukraine must emerge prosperous, democratic and secure

Ukraine’s war is raging on two fronts. On the 1,000km battlefront its armies are attacking the Russians’ deep defences. At the same time, on the home front Ukraine is defining what sort of country it will be when the fighting stops. Both matter, and both will pose a severe test for Ukraine and its backers.

America wants to lower tensions with Iran. Good

Now is the time to buy some time

Iran cannot rival Ukraine and Taiwan for headlines, but it could soon prove as dangerous as either. Its nuclear-weapons programme has put its regime in a position to dash for a bomb. Because full-blown negotiations are impossible, the threat could yet draw the Middle East into war—including through American strikes on Iranian nuclear facilities. That is why it is good that the Biden administration is seeking to lower tensions.

Previews: The Economist Magazine – June 17, 2023

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The Economist Magazine– June 17, 2023 issue: America’s new best friend – Why India is indispensable.

Joe Biden and Narendra Modi are drawing their countries closer

India does not love the West, but it is indispensable to America

No country except China has propped up Russia’s war economy as much as oil-thirsty India. And few big democracies have slid further in the rankings of democratic freedom. But you would not guess it from the rapturous welcome Narendra Modi will receive in Washington next week. India’s prime minister has been afforded the honour of a state visit by President Joe Biden. The Americans hope to strike defence deals.

Lula’s ambitious plans to save the Amazon clash with reality

The Brazilian president faces resistance from Congress, the state oil company and agribusiness

Ukraine’s counter-offensive is making mixed progress

Its real test will come when it hits Russia’s prepared defences

Charlemagne: Why Europe’s asylum policy desperately needs rebooting

A deadly shipwreck in Greek waters highlights its dangers

Previews: The Economist Magazine – June 10, 2023

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The Economist Magazine– June 10, 2023 issue:

Ukraine strikes back


The counter-offensive is getting under way. The next few weeks will be critical

Trailed ten days early with a blood-stirring video in which Ukrainian troops asked God to bless their “sacred revenge”, Ukraine’s counter-offensive is under way. For weeks its armed forces have conducted probing and shaping operations along the 1,000km front line, looking for weaknesses and confusing the Russians. Now Ukraine is testing enemy defences with an intensity not seen for months, with attacks against the occupiers in a series of positions in the east and south. The apparent demolition of the Kakhovka dam on June 6th, if it was indeed Russian sabotage as Western military sources believe, would be clear evidence that they are already feeling the pressure.

Apple’s Vision Pro is an incredible machine. Now to find out what it is for

The meaning of “spatial computing”

No one shows off a new gadget quite like Apple. But the device that Tim Cook unveiled on June 5th was billed as something more significant. The Vision Pro, a pair of sleek glass goggles, represents “an entirely new spatial-computing platform”, said Apple’s boss, comparing its launch to that of the Macintosh and the iPhone. Apple’s message is clear: after desktop and mobile computing, the next big tech era will be spatial computing—also known as augmented reality—in which computer graphics are overlaid on the world around the user.

California’s reparations scheme is bad policy and worse politics

Democrats should ditch it in favour of ideas that Americans actually support

Previews: The Economist Magazine – June 3, 2023

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The Economist Magazine– June 3, 2023 issue: The baby-bust economy: How declining birth rates will change the world.

Global fertility has collapsed, with profound economic consequences

What might change the world’s dire demographic trajectory?

In the roughly 250 years since the Industrial Revolution the world’s population, like its wealth, has exploded. Before the end of this century, however, the number of people on the planet could shrink for the first time since the Black Death. The root cause is not a surge in deaths, but a slump in births. Across much of the world the fertility rate, the average number of births per woman, is collapsing. Although the trend may be familiar, its extent and its consequences are not. Even as artificial intelligence (ai) leads to surging optimism in some quarters, the baby bust hangs over the future of the world economy.

How to make the re-election of Recep Tayyip Erdogan less bad news

Turkish President and People's Alliance's presidential candidate Recep Tayyip Erdogan gestures to supporters at the presidential palace, in Ankara, Turkey, Sunday, May 28, 2023. Turkey President Recep Tayyip Erdogan won reelection Sunday, extending his increasingly authoritarian rule into a third decade as the country reels from high inflation and the aftermath of an earthquake that leveled entire cities. (AP Photo/Ali Unal)

There is a chance for a partial reset

It certainly wasn’t fair. Nor was it entirely free. But, like it or not, the victory on May 28th of Recep Tayyip Erdogan in Turkey’s presidential election is a fact. For the next five years Turkey, Europe and the wider world will have to deal with a prickly and authoritarian populist. That is bad news on many fronts: economically, democratically and regionally. And yet pragmatists have a duty to search for chinks of light in the gloom.

It’s not just a fiscal fiasco: greying economies also innovate less

That compounds the problems of shrinking workforces and rising bills for health care and pensions

“Adam is a special child,” says the voice-over, as the camera pans across abandoned classrooms and deserted maternity wards. “He’s the last child born in Italy.” The short film made for Plasmon, an Italian brand of baby food owned by Kraft-Heinz, a giant American firm, is set in 2050. It imagines an Italy where babies are a thing of the past. It is exaggerating for effect, of course, but not by as much as you might imagine. The number of births in Italy peaked at 1m in 1964; by 2050, the un projects, it will have shrunk by almost two-thirds, to 346,000.

Previews: The Economist Magazine – May 27, 2023

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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. 

Ron DeSantis has little chance of beating Donald Trump

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.

What would humans do in a world of super-AI?

A thought experiment based on economic principles

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. 

Hungary is becoming more important to China

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”.