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Contents The Economist October 3rd 2020 3 The world this week United States 6 A summary of political 21 Upside down in Florida and business news 22 SCOTUS and the election 23 Voting in Georgia Leaders 24 Measuring poverty 9 America’s election Bidenomics 25 Priests and politics 26 Lexington The end of 10 Property The house party returns the debate 11 Famine in Yemen The Americas An avoidable tragedy 27 A test for Trudeau 11 Germany Growing up at last 28 Self-medication in Peru 28 Baby names in Tabasco On the cover 12 China’s countryside Mass destruction 29 Bello Why mayors Joe Biden should be more matter more decisive and ambitious about Letters America’s economy: leader, On working from home, page 9. The Democratic 14 land reform, scientific Asia presidential contender would management 30 India v Pakistan v covid-19 be a salve for America’s economy but not remake it: 31 Uzbekistan’s stranded gas briefing, page 16 Briefing 32 New Zealand’s election 16 Biden’s economic plan • The unhealthy house-price 32 Investing in Myanmar The pragmatist boom The sky-high cost of 33 Banyan Malaysia’s man residential-property spells of the future trouble for the social contract: Technology Quarterly: Virtual realities leader, page 10. Why prices China Into other worlds continue to rise, page 59 34 Destroying villages After page 40 • Parenting, the rug-rat race 35 The betel capital Working-class families are 36 Chaguan Lessons from coming to resemble middle-class the Korean war families in one crucial way, page 50 • Tata’s troubles The conglomerate that defined Middle East & Africa respectable Indian business is 37 How big firms rip under increasing pressure—both off Africans from within and without, page 53 38 Taiwan’s search for friends 39 Kuwait’s emir lamented • TQ: Virtual realities 39 Another crisis in Yemen Computer-generated worlds are becoming ubiquitous, no 40 Iraq battles covid-19 headset required, says Alok Jha, after page 40 Charlemagne When it comes to the economy, the eu has started We are working hard to speaking in French , ensure that there is no dis- page 46 ruption to print copies of The Economist as a result of the coronavirus. But if you have digital access as part of your subscription, then acti- vating it will ensure that you can always read the digital version of the newspaper as well as all of our daily jour- nalism. To do so, visit economist.com/activate 1 Contents continues overleaf 4 Contents The Economist October 3rd 2020 Europe Finance & economics 41 Germany at 30 59 Global house prices 42 The fight between 60 Evergrande’s mighty woes Armenia and Azerbaijan 61 Faster digital payments 43 A by-election in Hungary 61 “Spoofing” at JPMorgan 43 Spain fumbles covid-19 62 Germany’s labour market 44 Albania’s diaspora singers 62 Foreign investors in India 46 Charlemagne On 63 Buttonwood The strategic yogurt endowment model 64 Free exchange Banning Britain gas-guzzlers 47 Mixed-race Britons 48 Fight for London’s streets Science & technology 49 Bagehot Boris’s 67 Hybrids and evolution culture war International 50 Working-class parenting Books & arts 71 Mexican chronicles 72 The CIA and the cold war 73 The lure of islands 73 Sayaka Murata’s new novel Business 74 Johnson Battling racist language 53 Tata teeters 54 The Epic-Apple slugfest Economic & financial indicators 55 Shale sale 76 Statistics on 42 economies 56 LVMH spurns Tiffany 56 Unsustainable standards Graphic detail 57 Bartleby Office humour 77 Nationality, family income and students’ test scores 58 Schumpeter Assessing Trump Inc Obituary 78 Harold Evans, editor and campaigner Volume 437 Number 9214 Published since September 1843 Subscription service to take part in “a severe contest between For our full range of subscription offers, including The best way to contact our Customer Service Please 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 the below numbers; please check our website obstructing our progress.” for up to date opening hours. If you are experiencing problems when trying to Editorial offices in London and also: subscribe, please visit our Help pages at: PEFC certified Amsterdam, Beijing, Berlin, Brussels, Cairo, www.economist.com/help for troubleshooting North America: +1 800 456 6086 This copy of The Economist Chicago, Johannesburg, Madrid, Mexico City, advice. Latin America & Mexico: +1 636 449 5702 is printed on paper sourced Moscow, Mumbai, New Delhi, New York, Paris, from sustainably managed San Francisco, São Paulo, Seoul, Shanghai, forests certified to PEFC Singapore, Tokyo, Washington DC PEFC/29-31-58 www.pefc.org © 2020 The Economist Newspaper Limited. All rights reserved. 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Printed by Quad/Graphics, Saratoga Springs, NY 12866 6 The world this week Politics The Economist October 3rd 2020 Protests broke out across Vene- detention centres for ethnic zuela against power cuts and Uighurs in China’s Xinjiang Coronavirus briefs shortages of fuel and water. region, about 40% more than To 11pm GMT September 30th 2020 Among the demonstrators previous estimates. It found Cumulative total, log scale were teachers demanding that building work had been 100m higher pay and patients want- taking place in dozens of them Confirmed cases 10m ing better conditions in hospi- over the past two years, despite 1m tals. Security forces fired rub- official claims that all intern- 100,000 ber bullets and tear gas. ees had “graduated” by 2019. Confirmed deaths 10,000 1,000 West Africa’s regional bloc, Amnesty International, a 100 0 ecowas, said sanctions will human-rights watchdog, shut Fighting erupted in and around remain in place against Mali its offices in India, complain- SAJJMAMFJ Nagorno-Karabakh, a disput- until the leaders of a coup hand ing that the government had Confirmed deaths* ed enclave inside Azerbaijan, power to a civilian administra- made its work impossible by Per 100k Total This week mostly populated by ethnic tion. The appointment as closing its bank accounts, Peru 98 32,396 828 Armenians and backed by president of Bah Ndaw, a re- among other things. Belgium 86 10,016 57 Armenia. More than 100 peo- tired colonel, does not satisfy Bolivia 68 7,965 234 ple, mostly soldiers, are this demand, it said. Police in Pakistan arrested Spain 68 31,791 757 thought to have been killed. Shehbaz Sharif, the titular Brazil 68 143,952 5,847 Turkey’s president, Recep Doctors and others working for leader of the main opposition Chile 67 12,741 396 Ecuador 64 11,355 184 Tayyip Erdogan, Azerbaijan’s the World Health Organisation party and brother of its actual United States 62 206,202 4,991 main supporter, urged his and aid agencies fighting an leader, Nawaz Sharif, who is in Britain 62 42,143 281 fellow Muslims to wrest back Ebola outbreak in Congo were exile in London. A court had Mexico 60 77,646 2,697 control of the area, whose accused of sexually exploiting revoked Mr Sharif’s bail on Sources: Johns Hopkins University CSSE; UN; inhabitants are largely local women.