2020-12-05 The Economist PDF
Preview 2020-12-05 The Economist
DECEMBER 5TH–11TH 2020 Digital health care’s leap forward Taiwan’s perky economy Torture on the EU’s doorstep Our books of the year Making coal history TOWARDS A DREAM louisvuitton.com As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC- registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business, that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information, please review the PDF document at ubs.com/relationshipsummary. © UBS 2020. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. For some of life’s questions, you’re not alone. Together we can find an answer. ubs.com/lifegoals Will the world always be this unpredictable? Is there the possibility of a better tomorrow? investments I’ve made see me through? In a shifting, can I be sure that my decisions will the correct ones? Or will these times remain The Economist December 5th 2020 7 Contents continues overleaf 1 Contents The world this week 11 A summary of political and business news Leaders 15 Energy Make coal history 16 Belarus The colours of terror 16 Health care Alive and kicking 17 America and Iran A better nuclear deal 18 “The Crown” Truth and fiction Letters 22 On Afghanistan, diplomats, Hong Kong, the Democrats, the colour black, hipsters Briefing 25 Coal’s endgame Crushing it United States 30 The recovery falters 31 Wasting campaign cash 32 In praise of Congress 33 Lead pipes in cities 34 The future of intelligence 35 Lexington Jake Sullivan The Americas 36 Artists dissent in Cuba 37 Alberta goes green 38 Bello Argentina’s president without a plan Asia 39 Taiwan’s perky economy 40 India’s wild inequality 41 Coal in Australia 42 Dynasticism in Indonesia 42 Japan’s hungry ungulates 43 Banyan 50 years after a novelist’s seppuku China 44 A beefier coastguard 45 Jailings in Hong Kong 45 Hong Kong’s grand plan 46 Chaguan The costs of bullying other countries Middle East & Africa 47 Biden’s ideas on Iran 49 Torturing refugees 50 Victory in Ethiopia? 50 Boko Haram kills farmers Charlemagne Why shutting down Europe’s ski resorts proves so tricky, page 54 On the cover Celebrate the decline of coal in rich Western countries. Asia must be next: leader, page 15. The world is finally burning less of the stuff. It now faces the challenge of using almost none at all: briefing, page 25 • Digital health care’s leap forward The world’s most complex and immovable industry has been reinventing itself: leader, page 16 and analysis, page 61. Artificial intelligence is solving one of biology’s biggest challenges, page 75. The pandemic has pushed Britain’s National Health Service to breaking point. It has also brought forth a wave of innovation, page 55 • Taiwan’s perky economy Covid-19 has ravaged economies all over the world—but not Taiwan’s, page 39 • Torture on the eu’s doorstep Having stolen an election, Belarus’s government is abusing those who object: leader, page 16. An interview with Svetlana Tikhanovskaya, page 51 We are working hard to ensure that there is no dis- 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 PEFC certified This copy of The Economist is printed on paper sourced from sustainably managed forests certified to PEFC www.pefc.org PEFC/29-31-58 Please Subscription service For our full range of subscription offers, including digital only or print and digital bundled, visit: Economist.com/offers If you are experiencing problems when trying to subscribe, please visit our Help pages at: www.economist.com/help for troubleshooting advice. Published since September 1843 to take part in “a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress.” Editorial offices in London and also: Amsterdam, Beijing, Berlin, Brussels, Cairo, Chicago, Johannesburg, Madrid, Mexico City, Moscow, Mumbai, New Delhi, New York, Paris, San Francisco, São Paulo, Seoul, Shanghai, Singapore, Tokyo, Washington DC The best way to contact our Customer Service team is via phone or live chat. You can contact us on the below numbers; please check our website for up to date opening hours. North America: +1 800 456 6086 Latin America & Mexico: +1 636 449 5702 © 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. The Economist (ISSN 0013-0613) is published every week, except for a year-end double issue, by The Economist Newspaper Limited, 750 3rd Avenue, 5th Floor, New York, N Y 10017. The Economist is a registered trademark of The Economist Newspaper Limited. Periodicals postage paid at New York, NY and additional mailing offices. Postmaster: Send address changes to The Economist, P.O. Box 46978, St. Louis , MO. 63146-6978, USA. Canada Post publications mail (Canadian distribution) sales agreement no. 40012331. Return undeliverable Canadian addresses to The Economist, PO Box 7258 STN A, Toronto, ON M5W 1X9. GST R123236267. Printed by Quad/Graphics, Saratoga Springs, NY 12866 8 Contents The Economist December 5th 2020 Volume 437 Number 9223 Europe 51 An interview with Belarus’s leader in exile 52 Istanbul’s next earthquake 53 France’s security law 53 Dutch populism 54 Charlemagne To ski or not to ski? Britain 55 The NHS unleashed 57 Trans rights 57 The Brexit endgame 58 Bagehot Boris’s organisation man International 59 The growth of communal living Business 61 Digital medicine 62 Pandemic gastronomy 63 Volkswagen’s boss 64 US Congress v China Inc 64 Chinese hospitality 65 Salesforce gets some Slack 65 Swiss stakeholderism 66 Bartleby Managing by Zoom 67 Schumpeter Nestlé gets a pick-me-up Finance & economics 68 Ping An’s fintech might 70 Data and the quant boom 70 Biden’s economic team 71 Buttonwood The case for Europe 72 Investing in royalties 72 India’s stockmarket rally 73 Free exchange Digital currencies Science & technology 75 How proteins fold 76 The Starship SN8 77 Tracking fisherfolk 78 Covid-19 vaccine safety Books & arts 79 Our books of the year 82 Books by our writers Economic & financial indicators 84 Statistics on 42 economies Graphic detail 85 A covid-19 vaccine and share prices Obituary 86 Diego Maradona, a genius fuelled by rage CALIBER RM 72-01 www.richardmille.com RICHARD MILLE BOUTIQUES ASPEN BAL HARBOUR BEVERLY HILLS BOSTON BUENOS AIRES LAS VEGAS MIAMI NEW-YORK CITY ST. 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