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Ten Million Reasons to Vaccinate the World Our New Model of the True The Israeli- Palestinian conflict: another lethal spiral MAY 15TH–21ST 2021 Ten million reasons to vaccinate the world Our new model of the true death toll from covid-19 012 CALIBER RM 72-01 RICHARD MILLE BOUTIQUES BEIJING HONGKONG MACAU SHANGHAI SEOUL SINGAPORE FUKUOKA HANOI JAKARTA KOBE KUALALUMPUR NAGOYA OSAKA TAIPEI TOKYO www.richardmille.com 012 Contents The Economist May 15th 2021 3 The world this week Asia 5 A summary of political 19 South­East Asia’s and business news second wave 20 Inoculation in Indonesia Leaders 21 Hunting in Taiwan 7 The pandemic Vaccinating the world 21 India’s hidden toll The Korean stalemate 8 Israel and Palestine 22 Stopping the cycle 23 Banyan Islamism in the Maldives 9 Supply shortages The bottleneck economy China 9 British politics The wrong conservatism 24 Football and money 10 Corporate-tax dodging 25 Ice­hockey woes On the cover End the contortions 26 Chaguan Youngsters A model built by The playing it safe Economist reveals the true Letters course of the pandemic. Here is 13 On Taiwan, Scotland, what to do next: leader, page 7. Spain, suicide, patents, Our covid-19 model, page 14. workers, Dickens, the United States How can the world increase its C­suite New York’s mayoral race vaccine supply? Page 16. Some 27 28 Colonial Pipeline hacked politicians want pharma Briefing patents to be weakened. Is 29 Skid Row 14 The covid-19 pandemic that a good idea? Page 59. Counting the dead 30 The eviction experiment A worrying new wave of Another epidemic covid-19 is hitting South-East 16 Producing more vaccines 30 Asia, page 19. Death of an The insufficient miracle 32 Lexington Liz Cheney and Indian bookseller: obituary, the triumph of Trumpism page 78 The Americas The Israeli-Palestinian conflict 33 Post­covid economies Only negotiations will bring 34 Hunger in Brazil lasting peace: leader, page 8. Another cycle of violence leaves 35 A postal eccentricity scores of people dead, page 36 Supply bottlenecks America’s boom is increasing worries about an inflation scare: leader, Middle East & Africa page 9. What an inflation 36 The Holy Land erupts surprise tells you about 37 Saudi Arabia turns nice America’s re-opening, page 61 38 Lake Victoria transformed Corporate tax Time for new Schumpeter For some 39 Camelnomics rules: leader, page 10, and American chief 40 Nigeria’s economy slumps analysis, page 64. Corporate executives, it was as if taxes are likely to rise in America. covid­19 never happened, Who will shoulder the costs? page 60 Free exchange, page 66 → Activating the digital element of your subscription means that you can search our archive, read all of our daily journalism and listen to audio versions of our stories. Just visit economist.com/activate Contents continues overleaf 012 4 Contents The Economist May 15th 2021 Europe Finance & economics 41 French politics 61 American inflation 42 Scandal in Bulgaria 62 Buttonwood The bull 42 Green steel in Sweden case for Britain 43 Turkish tourism 63 China’s census 44 Europe’s welfare states 63 David Swensen 45 Charlemagne The coming 64 Taxing multinationals boom 66 Free exchange Corporate taxes Britain 47 Winning the peace Science & technology 48 Voter id 68 Recycling car batteries... 48 Political realignment 69 ...and rare earths 49 Slaughter in Ballymurphy 70 Gender dysphoria 50 Bagehot Labour’s big 71 Charismatic megaflora divide 71 Hypersonic flight International Books & arts 51 The complexities of truth commissions 72 Stacey Abrams 73 Thomas Becket’s murder 74 Opioids in America 75 Napoleon’s art theft 75 Heist fiction Business Economic & financial indicators 53 SpaceX 76 Statistics on 42 economies 56 Bartleby Working mothers Graphic detail 57 Harley-Davidson revs up 77 Park attendance and changing birth rates 57 Europe’s lobbying swamp 58 Musical plagiarism Obituary 59 Pharma patents under fire 78 T.S. Shanbhag, proprietor of a piece of old Bangalore 60 Schumpeter Bosses’ pay Volume 439 Number 9245 Published since September Subscription service Please to take part in “a severe contest between For our full range of subscription offers, including The best way to contact our Customer Service intelligence, which presses forward, digital only or print and digital bundled, visit: team is via phone or live chat. You can contact us and an unworthy, timid ignorance Economist.com/offers on + ; please check our website for up obstructing our progress.” to date opening hours. PEFC certified If you are experiencing problems when trying This copy of The Economist Editorial offices in London and also: to subscribe, please visit our Help pages at: is printed on paper sourced Amsterdam, Beijing, Berlin, Brussels, Chicago, www.economist.com/help for troubleshooting from sustainably managed Dakar, Dallas, Dubai, Johannesburg, Madrid, advice. forests, recycled and Mexico City, Moscow, Mumbai, New Delhi, New PEFC/-- controlled sources certified York, Paris, San Francisco, São Paulo, Seoul, by PEFC Shanghai, Singapore, Tokyo, Washington DC www.pefc.org © 2021 The Economist Newspaper Limited. All rights reserved. Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of The Economist Newspaper Limited. Published every week, except for a year-end double issue, by The Economist Newspaper Limited. The Economist is a registered trademark of The Economist Newspaper Limited. Publisher: The Economist. Printed by Times Printers (in Singapore). MCI (P) No.045/09/2020. PPS 677/11/2012(022861) 012 The world this week Politics The Economist May 15th 2021 5 headquarters to Texas was Seven children and two adults thrown out of court. The judge were killed in a shooting at a Coronavirus briefs found that the gun lobby was school in theRussian city of To 6am GMT May 13th 221 using what is supposed to be a Kazan; 23 others, most of them financial course of action to children, were injured. Presi­ Weekly confirmed cases by area, m avoid possible charges of dent Vladimir Putin said he 3 corruption in New York, where would review the country's India 2 it is incorporated. gun­control laws. The assail­ Western Europe ant was a former pupil. 1 Protests continued in Colom- Other US bia for a third week. At least 13 A car bomb outside a girls' 0 people have been recorded as school in Kabul killed at least 2020 2021 Israel and Hamas, the militant being killed, though the actual 85 people, mostly pupils. The Vaccination doses group that controls Gaza, were number may be higher. Taliban denied responsibility. % of adults with on the brink of war. The crisis Around 60 investigations into The attack, which occurred in a Total ’000 1st dose nd began with clashes around the police brutality have opened. part of the city that is home to Israel 10,515 97 91 al­Aqsa mosque, Islam’s third­ President Iván Duque attempt­ the Hazara ethnic minority, Bhutan 482 95 0 holiest site. Israeli police fired ed to negotiate with protest has intensified concerns that UAE 11,273 86 54 stun­grenades and rubber leaders, with little success. the American withdrawal from Mongolia 2,310 82 31 bullets at rock­throwing Pales­ What started as an outcry Afghanistan in September Malta 393 74 36 Maldives 438 74 33 tinians. Hamas and its allies against an unpopular pro­ will be followed by greater Britain 53,676 68 35 then fired more than 1,600 posed tax law has broadened violence against women and Bahrain 1,416 63 46 rockets at Israel, which re­ into a larger push for reform. minorities. Meanwhile the United States 263,133 62 44 sponded with hundreds of air Taliban seized control of a Chile 15,872 61 51 strikes on Gaza. Scores of The Scottish National Party’s district near Kabul, the second Sources: Johns Hopkins University CSSE; people, mostly Palestinians, drive for an independent in a week. Our World in Data; United Nations were killed. Israel said it had Scotland faltered after it failed killed Hamas officials. Adding to win an outright majority in India’s covid crisis continued The United States reported its to the turmoil, street fighting elections to the Scottish Parlia­ to engulf the country, spread­ lowest number of new daily broke out in several Israeli ment. Together with seats held ing into the rural hinterland cases since June. Just over cities between Jews and Arabs. by the pro­independence and spilling over the country’s 22,200 cases were recorded on Greens, there is a majority for a borders. Daily recorded May 10th, down from a peak of Iran confirmed that it was referendum in the Parliament, infections in Nepalhave more than 312,000 in early talking to Saudi Arabia, its but polling has swung a bit jumped by a factor of 25 in the January. Daily deaths fell to arch­rival, in an effort to re­ against holding another vote. past month and one in every 280 on May 9th; in January solve the many issues that A bruising battle to break from two tests returns a positive they peaked at over 4,000. divide them. The secret dis­ the rest of the United Kingdom result, twice India’s already cussions were mediated by wouldn’t be easy. Brexit has high rate, suggesting many America’s Food and Drug Iraq and started in Baghdad proved that. cases are going undetected. Administration approved the early last month. Meanwhile, Infections are also rising use of the Pfizer vaccine in an American Coast Guard ship Britain’s Labour Party lost across South­East Asia, testing children aged 12 to 15.
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