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The Economy Joe Biden Will Inherit America's Allies: a Long Wishlist

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The Economy Joe Biden Will Inherit America's Allies: a Long Wishlist The economy Joe Biden will inherit America’s allies: a long wishlist The trouble with value investing Zambia, becoming the next Zimbabwe NOVEMBER 14TH–20TH 2020 Suddenly, hope 打赏 - JUST FOR FUN ⽀持分享! ⼀杯咖啡钱, 打赏⾦额随意，感谢⼤家~ :) ⽀付宝 微信 资源来⾃ : https://github.com/hehonghui/the-economist-ebooks Contents The Economist November 14th 2020 5 The world this week Britain 8 A summary of political 25 Protest in the provinces and business news 26 Foreign-investment rules 27 Brexit and Biden Leaders 27 Chumocracy 13 Vaccines Suddenly, hope 28 Phone-hacking 28 New nukes? 14 America and its allies Great expectations 29 Rishi and the City 14 America’s next president 30 Bagehot Princess Diana, Biden’s economy populist politician 15 Asset management Beyond Buffett Europe 31 Nagorno- Karabakh On the cover 16 Democracy in Africa Zambia’s descent 32 Corruption and Ukraine A highly effective vaccine 33 Europe’s recovery fund should transform the fight Letters against covid-19. But a lot 33 France fights jihadists On transgender sports, remains to be done: leader, 18 in Africa diplomacy, Facebook, page 13, and briefing, page 21. management, Armenia, Cheap, rapid tests for avatars, Brazil sars-cov-2 are here. Will they United States be the stopgap needed? Page 72 35 Covid-19 and Biden Briefing • The economy Joe Biden 36 Republicans and the result 21 Covid-19 vaccines will inherit He faces two 37 The Pentagone The technology of hope extraordinary challenges: leader, 38 Fox News page 14. What he would do 38 Unhappy cowboys differently, and how much Special report: difference it would make, Asset management 39 The urban-rural divide page 35. A vaccine and the The money doctors 40 Lexington A Democratic world’s largest economy, page 66 After page 40 defeat in victory • America’s allies: a long wishlist What they can do for The Americas Joe Biden: leader, page 14. And 41 The impeachment of what the world wants from him, Martín Vizcarra page 55 42 Hurricane Eta • The trouble with value 43 Bello Proxy presidents investing Made famous by Warren Buffett, it is struggling to remain relevant: leader, page 15, and briefing, page 63. A special Middle East & Africa report on asset management 44 Corruption in South Africa after page 40 45 Why Zambia may default 46 Fed-up feminists in Egypt 47 Saeb Erekat, RIP Bagehot How Princess We are working hard to Diana shaped politics, ensure that there is no dis- page 30 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 6 Contents The Economist November 14th 2020 Asia Finance & economics 48 Kyrgyzstan’s president 66 America’s rebound 49 Sino-Australian trade 67 The vaccine and investors 50 India’s covid-19-proof 68 Buttonwood Emerging ruling party markets 50 Myanmar’s election 69 Turkey’s economic policy 51 Banyan Filipinos abroad 69 Grain prices in America 70 A Swedish unicorn China 71 Free exchange Working 52 Hong Kong’s legislature with epidemiologists 53 Self-help books 54 Chaguan Musing over Science & technology tea about unequal lives 72 Fast tests for covid-19 73 Life on Venus, redux 74 Better disposable cups International 55 What the world wants from Biden Books & arts 75 Britain and slavery 76 Chinatown chic 77 American society 77 Billy Wilder’s story Business 78 Johnson Language and China’s battered 58 evolution entrepreneurs 60 Disney’s TV success Economic & financial indicators 60 A growing taste for pasta 80 Statistics on 42 economies 61 Royal Enfield revs up 62 Schumpeter McDonald’s Graphic detail supersized comeback 81 How less-educated whites spurn Joe Biden Briefing Obituary 63 Value investing struggles 82 James Randi, magician and professional sceptic 加迪迪QQ1562739651问外刊群群号 Volume 437 Number 9220 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 0333 230 9200 or 020 7576 8448; please check obstructing our progress.” our website 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 This copy of The Economist Chicago, Johannesburg, Madrid, Mexico City, for troubleshooting advice. is printed on paper sourced Moscow, Mumbai, New Delhi, New York, Paris, from sustainably managed San Francisco, São Paulo, Seoul, Shanghai, forests certified by PEFC Singapore, Tokyo, Washington DC PEFC/16-33-582 www.pefc.org Registered as a newspaper. © 2020 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. Printed by Walstead Peterborough Limited. 8 The world this week Politics The Economist November 14th 2020 exile last year after protests civil wars, Ms Suu Kyi remains against his re-election. After popular, especially among the Coronavirus briefs Mr Arce took office Mr Morales ethnic-Bamar majority. To 6am GMT November 12th 2020 returned overland to Bolivia Weekly confirmed cases by area, m from Argentina. China authorised Hong Kong’s government to disbar legisla- 2.0 Europe Eta, this year’s strongest tors deemed to oppose Chinese 1.5 hurricane, killed at least 130 rule in the territory or to Latin America 1.0 people in Central America. threaten national security. The US Other Perhaps 300,000 lost their local government promptly 0.5 homes. Eta broke a record set dismissed four pro-democracy 0 in 2005 for the number of lawmakers. Fifteen others said Donald Trump refused to named storms in a season. they would resign. NOSAJJMAM concede defeat in America’s Confirmed deaths* election, despite Joe Biden’s Britain’s House of Lords voted America removed the East Per 100k Total This week passing the required 270 to amend a bill that would Turkestan Islamic Movement Belgium 118.7 13,758 1,427 electoral-college votes. The allow the government to re- from its list of terrorist organi- Peru 106.1 34,992 321 president is pursuing several write parts of its European sations. It said there was no Spain 85.8 40,105 1,987 legal challenges to states’ Union withdrawal treaty, credible evidence that the Brazil 76.9 163,368 2,262 results. None is expected to including provisions about group, allegedly founded by Chile 76.5 14,633 293 Argentina 76.4 34,531 2,011 succeed. Mr Biden’s transition Northern Ireland. The govern- Uyghur separatists, still exist- Bolivia 75.5 8,818 60 team is considering suing to ment says it will override the ed. China reacted angrily, Mexico 74.8 96,430 3,202 obtain federal funds and infor- changes. Joe Biden warned saying the organisation was a Britain 74.2 50,365 2,623 mation usually granted to Boris Johnson, Britain’s prime threat not only to China but to Ecuador 73.2 12,920 216 incoming administrations. minister, not to imperil peace the world. United States 72.7 240,783 7,785 in Ireland. Sources: Johns Hopkins University CSSE; UN; World leaders queued up to Several people were injured by The Economist *Definitions differ by country congratulate Mr Biden. Among After weeks of fighting over a bomb at an Armistice Day the strongmen who have so far Nagorno-Karabakh, Armenia ceremony in Jeddah, in Saudi The European Commission demurred are Vladimir Putin and Azerbaijan agreed to a Arabia. The event was attended agreed to buy up to 300m doses of Russia, Xi Jinping of China peace deal. Armenia surren- by representatives of foreign of the vaccine developed by and Jair Bolsonaro of Brazil. Mr dered the districts surround- consulates, including that of Pfizer and BioNTech. Bolsonaro railed against Mr ing the enclave, though a corri- France. Emmanuel Macron, Biden’s proposals to punish dor linking Armenia and France’s president, has angered Russia’s claims that its home- Brazil for not protecting the Nagorno-Karabakh will be some Muslims by defending grown “Sputnik V” vaccine is Amazon rainforest, saying, placed under Russian control. the right to publish caricatures 92% effective in preventing “Diplomacy alone won’t work. Protesters demanded the of religious figures, including infection, a similar success Once the saliva runs out, you resignation of Armenia’s prime the Prophet Muhammad. rate to Pfizer’s, were met with have to have gunpowder.” minister, Nikol Pashinyan. scepticism. Saeb Erekat, a veteran Pales- Joe Biden announced a The European Parliament tinian diplomat who was The number of people in hos- covid-19 advisory board to deal reached an agreement with eu involved in three decades of pital with covid-19 in America with the pandemic. He said his member states over the cre- negotiations with Israel, died reached 65,000, a new record. response would be led “by ation of a €1.8trn ($2.1trn) after contracting covid-19.
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