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The Economist: How Far Will China Go? - No.22 - 30th May 20

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Chi tiết sản phẩm

The Economist: How far will China Go?


How the world’s most powerful country is handling covid-19
America has passed a grim milestone: 100,000 deaths from a novel coronavirus that began to spread half a year and half a world away. Many Americans think their president has handled the epidemic disastrously, that their country has been hit uniquely hard and that there is a simple causal relationship between the two. The 100,000, which does not include excess deaths mistakenly attributed to other causes, is higher than any other country’s. It has routinely been compared with the 60,000 American casualties in the Vietnam war. A Trump Death Clock in Times Square purports to show how many lives the president’s ineptitude has cost: as we went to press it stood at 60,262. Yet this widespread conviction that America has failed because of Donald Trump is not supported by the numbers. Or, at least, not yet.


China has launched rule by fear in Hong Kong
The people of Hong Kong want two things: to choose how they are governed, and to be subject to the rule of law. The Chinese Communist Party finds both ideas so frightening that many expected it to send troops to crush last year’s vast protests in Hong Kong. Instead, it bided its time. Now, with the world distracted by covid-19 and mass protests difficult because of social distancing, it has chosen a quieter way to show who’s boss. That threatens a broader reckoning with the world—and not just over Hong Kong, but also over the South China Sea and Taiwan.

On May 21st China declared, in effect, that Hong Kongers deemed to pose a threat to the party will become subject to the party’s wrath. A new security law, written in Beijing, will create still-to-be defined crimes of subversion and secession, terms used elsewhere in China to lock up dissidents, including Uighurs and Tibetans. Hong Kong will have no say in drafting the law, which will let China station its secret police there. The message is clear. Rule by fear is about to begin.


Government handouts threaten Europe’s single market
A Billion or two here, a giant government cheque there: the money doled out by European governments to support businesses is starting to add up. Some €2trn ($2.2trn) or so has been earmarked to keep firms afloat. The early beneficiaries included bakeries, bookshops and the like. Now it is increasingly the turn of corporate titans. This week France announced an €8bn package to support its carmakers, including a large loan to Renault. Lufthansa is negotiating a €9bn bail-out from Germany which may involve the state taking a 20% stake. Now the taps are open, more blue-chip bail-outs are expected.


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