WEDNESDAY 17 MARCH 2021 WORLD BUSINESS NEWSPAPER EUROPE Hong Kong fears Martin Wolf Trapped on the farm Executives wary of Beijing’s next Can the global economy survive The poor conditions facing Britain’s steps — INSIDE BUSINESS, PAGE 6 another South Sea bubble? — PAGE 21 migrant workers — BIG READ, PAGE 19 Help at hand Briefing Biden battles i Alibaba browser pulled from app stores Chinese groups have deleted an Alibaba browser border crisis from their app stores — the latest hit to Jack Ma’s business empire — after Beijing warned that its tech crackdown was just starting.— PAGE 6; LEX, PAGE 22 A Border Patrol agent holds the hand of a child whose mother is seeking asylum i Johnson faces heat over nuclear arms at an immigration centre in Browns- UK prime minister has been heavily criticised after ville, Texas, this week. announcing a 40 per cent rise in the country’s Joe Biden is facing one of his first big stockpile of nuclear warheads as part of a plan to political crises over his administration’s define a “Global Britain”.— PAGE 2; FT VIEW, PAGE 20 immigration policy after a surge in the number of children trying to cross the i Volkswagen sets 1m electric cars target US-Mexico border. Some 9,500 unac- The German carmaker plans to companied minors arrived last month, sell 1m electric or hybrid cars the highest level in nearly two years. this year, almost a tenfold rise Smugglers have been spreading the since 2019, as it sets its sights on word in the northern triangle of Hondu- a recovery in profits after the ras, Guatemala and El Salvador that the pandemic.— PAGE 8 Biden administration is allowing Cen- tral Americans into the US. Many are i N Korea warns US against military drills fleeing poverty and violence in their Nuclear-armed North Korea has warned Joe Biden corruption-plagued nations. against conducting military drills with South Korea, Border test for Biden page 4 raising tensions as leading US diplomats arrived in Veronica G Cardenas/Reuters the region for talks.— PAGE 4 i Broker eToro to go public in Spac deal The online broker has agreed to go public at a $10.4bn valuation after merging with a listed blank- cheque company as it seeks to tap into the recent EU to propose Covid certificate digital trading boom.— PAGE 6; LEX, PAGE 22 i Berkshire rejects climate disclosure call Berkshire Hathaway shareholders have been urged to vote down two proposals that would force it to allowing quarantine-free travel disclose its efforts to tackle climate change and boost diversity and inclusion in the workforce.— PAGE 8 i Brazil to appoint new health minister 3 Push by tourism-reliant states 3 Non-bloc countries included 3 Split on which jabs eligible In a week in with Covid-19 deaths in Brazil hit record levels during a second wave, the government is to replace the health minister for the third time since MEHREEN KHAN — BRUSSELS heads over plans for an EU vaccine all vaccines approved by the European for the introduction of common stand- the start of the pandemic.— PAGE 4 PHILIP GEORGIADIS — LONDON “passport”, with countries led by France Medicines Agency should be automati- ards for travel amid concerns that the Brussels is to propose the creation of a arguing that such measures would dis- cally recognised by other member states current system of country-by-country Covid-19 certificate to allow EU citizens criminate against citizens who are last under the certificate. But governments rules is putting people off booking. Datawatch to travel inside the bloc after a push by in line for jabs. Tourism-reliant states would also have the power to recognise Iata, the global airline body, is one of tourism-reliant countries devastated by such as Greece have led the push for a jabs such as Russia’s Sputnik vaccine as several groups to have launched its own the pandemic. common framework to facilitate travel valid if they so wished. Alexandre de travel pass app. Alexandre de Juniac, High rise The Republic The European Commission will today before the lucrative summer season. It means countries that rely on tour- Juniac, head of Iata’s head, told the Financial Times he Ireland’s population (million) of Ireland’s call for a “digital green certificate” to be Brussels officials have stressed the ism would not be prohibited from allow- Iata, is worried was worried that governments would population hit 5m last year, for the created that would allow vaccinated and certificate would not be a “passport” but ing in EU travellers who had received as that European struggle to co-ordinate reopening their 6 non-vaccinated citizens to travel to a common system to help governments yet unauthorised vaccines. But at the states will borders in time for the summer season. first time since the 5 mid-19th century. other member states and not be forced co-ordinate travel measures as vaccina- same time an EU official said: “No mem- struggle to “In Europe some, let’s say, to be polite, 4 Ireland has one to quarantine on arrival. tions are rolled out across the bloc. ber states will be forced to recognise co-ordinate the weaknesses in the EU approach of the 3 of the highest The certificate would be granted to Governments have also been divided non-authorised vaccines.” reopening of vaccination strategy have not strength- population citizens who had either proof of vaccina- over which vaccines should be eligible EU governments would also be able to their borders ened the confidence of states,” he said. 2 growth rates tion, a negative Covid-19 test, or proof of after countries such as Hungary have strike bilateral travel agreements with The EU’s proposal is subject to agree- 1 among developed recovery from the virus for those who allowed the use of Russian and Chinese non-EU countries as long as they were ment from a majority of member states 0 countries, up had contracted it previously, a leaked jabs before they have been formally approved by the commission before- and the European Parliament. 1841 1900 1950 2000 20 33% since the draft seen by the Financial Times says. approved by EU regulators. hand, said the document. Capitals co-ordinate suspension page 4 Sources: CSO; UNDP millennium. EU countries have been at logger- The commission’s draft text says that The tourism sector has been lobbying FT View page 20 Huawei answers Beijing call for tech innovation with surge in new patents JAMES KYNGE — HONG KONG the end of 2019, representing the com- for or buy the core technologies from pany’s biggest annual increase, Guo elsewhere”. Huawei says it recorded its biggest Fulin, Huawei’s president of interna- Huawei was the leading applicant for annual jump in the number of patents tional media affairs, told the Financial patents at the UN’s World Intellectual it owns last year as the company Times. Property Organization. In 2020, it increased its research and develop- Germany’s traffic-light Huawei, which ranks as China’s top applied for 5,464 patents under Wipo’s ment to answer Beijing’s call for home- patent holder, holds a large proportion patent co-operation treaty, compared coalition senses its chance grown innovation. of its patents in telecoms equipment, with 3,093 for Samsung of South Korea, Analysis i PAGE 2 The Chinese national champion was particularly in 5G technology, where it the second-biggest applicant. Mitsubi- blacklisted by the US in 2019 because of dominates the global standard. It has shi Electric of Japan, LG Electronics of concerns over national security, cutting also filed patent applications for video- South Korea and Qualcomm of the US Austria €3.90Malta€3.70 off its access to many essential compo- surveillance technologies and other also featured among applicants. Bahrain Din1.8 MoroccoDh45 Belgium €3.90Netherlands €3.90 nents and clobbering its sales of smart- forms of artificial intelligence, analysts Francis Gurry, former Wipo director- Bulgaria Lev7.50 Norway NKr40 phones around the world. In the last said. general, told a Huawei conference yes- Croatia Kn29 Oman OR1.60 Cyprus €3.70PakistanRupee350 three months of 2020, its smartphone Huawei’s strategy is in line with terday that some two-thirds of global Czech RepKc105 Poland Zl 20 Denmark DKr38Portugal €3.70 sales were down 41 per cent from the exhortations from Beijing for greater intellectual property patent applica- EgyptE£59Qatar QR15 same period the previous year. technological self-reliance. tions were launched by Asian groups. Finland €4.70 Romania Ron17 France €3.90Russia €5.00 But in spite of the US pressure, Hua- Wang Zhigang, science and technol- “For a long while, there was just North Germany€3.90 Serbia NewD420 wei increased its efforts in innovation. ogy minister, said last year that China America in the world of innovation and Gibraltar £2.90Slovak Rep€3.70 Greece €3.70Slovenia €3.70 By the end of 2020, the company held needed to “improve our ability to make intellectual property, with Japan coming Hungary Ft1200 Spain €3.70 India Rup220 Sweden SKr39 more than 100,000 active patents, up innovations independently and do our in around the 1980s. Now it is a multi - Italy €3.70Switzerland SFr6.20 from just over 85,000 active patents at own things well because we cannot ask polar innovation situation,” Gurry said. Lithuania €4.30 Tunisia Din7.50 Luxembourg€3.90 Turkey TL19 North Macedonia Den220 UAEDh20.00 Subscribe In print and online World Markets www.ft.com/subscribetoday STOCK MARKETS CURRENCIES INTEREST RATES email: [email protected] Mar 16 prev %chg Mar 16 prev Mar 16 prev price yield chg Tel: +44 20 7775 6000 S&P 500 3973.16 3968.94 0.11 $ per €1.190 1.192 £