Several important anniversaries loom. The Communist Party is nervous Thirty years ago, as 1989 approached, political storm-clouds were gathering over China. Bitter divisions had emerged within the leadership over how far and how fast to pursue economic reform. Inspired by the Soviet Union's liberalizing leader, Mikhail Gorbachev, some people in China were daring to suggest that their own country..
Britain's political crisis exposes the inadequacy of its leaders In the past year the British body politic has endured an astonishing list of maladies. The cabinet has lost a foreign secretary and two Brexit secretaries, not to mention lots of lesser fry. Parliament has voted to hold the government in contempt. The Conservative Party has held a vote of no confidence in the prime minister and lef..
How to get the best from an outbreak of nostalgia Politicians have always exploited the past. But just now, rich countries and emerging economies are experiencing an outbreak of nostalgia. Right and left, democracies and autocracies, all are harking back to the glories of yesteryear. Even as President Donald Trump vows to "Make America great again", President Xi Jinping is using his "Chinese dre..
An elf-and-safety nightmare Memo from: Bognor Consulting Group. To: Santa Claus, North Pole HQ, Lapland. Thanks for asking us to have a look at your business model. Our staff have now recovered from their frostbite and have a number of significant suggestions for a revamp before next year. First, the brand name. The business seems to use several different monikers, including St Nicholas, Santa C..
It was a chastened Emmanuel Macron who addressed the French nation on December 10th in an attempt to defuse the first real political crisis of his presidency. His brow creased, his tone contrite, the French president acknowledged his mistakes - "I know I have hurt some of you with my words" - and promised a costly package of fiscal measures to boost pay packets and pensions. Whether this is enou..
The Norwegian could not secure a victory in the classical format, but dominated the rapid-chess tiebreaker Rarely has a tournament involved so little winning. The World Chess Championship of 2018, held in London at The College in Holborn over nearly three weeks from November 9th-28th, began with a series of 12 games played under classical time controls, the traditional slow pace of play. The rei..
After a disastrous regional election in Hesse, Germany's chancellor's position has become untenable "The time has come to open a new chapter," Angela Merkel said on October 29th, confirming reports that she would not run again as party leader. She will remain Germany's chancellor for now, but said this will be her last term - saying publicly for the first time what had long been suspected. That ..
Many people are travelling, and many are visiting the same places Ever since the fall of the Venetian Republic in 1797, locals have complained that Venice, its former capital, is being overrun by visitors. Having spent decades trying to attract tourists, the city council is now rethinking its approach. In May it erected pedestrian gates across the historic neighbourhood's main entrances. When cr..
It is perhaps the most successful rich economy What is the biggest problem facing America? Or Japan? Or Britain? Or France? Opinions vary, naturally, but some worries crop up again and again. Those of a materialist bent point to decades of slow growth in median incomes, which has bred disillusion and anger among working people. Fiscal hawks decry huge public debts, destined to grow even vaster a..
How the world's two superpowers have become rivals For the past quarter century America's approach to China has been founded on a belief in convergence. Political and economic integration would not just make China wealthier, they would also make it more liberal, pluralistic and democratic. There were crises, such as a face-off in the Taiwan Strait in 1996 or the downing of a spy-plane in 2001. B..
How different countries are taking a growing economic problem Competition in America: Where capitalism has become far less healthyAmerica's airlines used to be famous for two things: terrible service and worse finances. Today flyers still endure hidden fees, late flights, bruised knees, clapped-out fittings and sub-par food. Yet airlines now make juicy profits. Scheduled passenger airlines repor..
Toxic politics and constrained central banks could make the next downturn hard to escape Just a year ago world was enjoying a synchronized economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China's slide into deflation had been quelled; even the euro zone was thriving. In 2018 the story..
After a bitter nomination fight, America's highest court gets its ninth judge Almost three months to the day since Donald Trump nominated him to the Supreme Court, Brett Kavanaugh was confirmed on Saturday afternoon by a 50-48 margin. The saga ended in a manner appropriate to the United States Senate: with neither a bang nor a whimper, but with hours of pointless verbiage preceding the final vot..
Marijuana is appearing in a growing array of products A hundred years ago, Coca Cola contained cocaine and was held up as a cure for impotence, headaches and morphine addiction. The hard narcotics are long gone, but folk are aflutter at the possibility that the fizzy drink might one day contain cannabis. For it emerged this week that Coca-Cola, the company, is taking a close look at the cannabis..
Donald Trump announces another wave of tariffs. China retaliates Another week, a further ratcheting up of trade tensions between America and China. On September 17th President Donald Trump announced that he had approved another wave of tariffs on Chinese imports. From September 24th, imports of products which in 2017 were worth as much as $189bn, including furniture, computers and car parts, wil..