Post on 18-Mar-2020
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OnthecoverFrance's new presidentpromises reform from thecentre. The challenge isimmense, but he deserves tosucceed: leader, page 7. Theimprobable, inescapablequest to reform France, page19. Why did polls sell Macronshort? Page 22. CanEmmanuel Macron revive theFranco-German engine?Charlemagne, page 25
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••Volume 4'23Number 9040
Published since September1843to take port in "a severe contest betweenintelligence, which pressesforward, andan unworthy, timid ignorance obstructingour progresso "
Editorial offices in London and aLso:Atlanta, Beijing, Berlin, Brussels, Cairo, Chicago,Lima, Mexlco City, Moscow, Mumbai, Nairobi.New Delhi, NewYork, Paris, San Francisco,Sào Pau lo, Seoul, Shanghai, Singapore, Tokyo,Washington DC
5 The world this week
Leaders7 France's president
Macron's mission8 The Trump presidency
Courting trauble9 Sacking James Comey
You're fired!9 India's economy
State of disrepair10 Surrogacy
The gift of life
Letters12 On bonds, birds, sea
levels, central banks,quantum computing,split infinitives
Briefing14 Trumponomics
Home-cooked policies16 In his own words
What he wants16 The Trump trilemma
You can't always get whatyou want
18 Reassessing global tradeMake his day
Europe19 President Macron
Marchons, marchons!22 Polling errors
Undercounting centrists23 Muckraking in Malta
Shady island23 English in the EU
Lingua franca24 The new Europhiles
Who loves EU,baby25 Charlemagne
Germany and Macron-mania
Britain26 Scotland
Uniting the clans27 Welsh politics
Independents' day28 Bagehot
Why Marx still matters
Middle East and Africa29 Iran
Rouhani under fire30 Egypt's economy
Opening for business31 Israeli politics
The generals make way31 Egypt' s zoos
No place for animals32 Namibia and Germany
Salt in old wounds
United States33 Trump and the FBI
The hand that made him34 Spedal prosecutors
Starry night34 Opioids
A selective scourge36 Lexington
Palace whispers
The Americas37 Gangs in Mexico
Crime's new geography38 Bello
Venezuela is not an island39 Cuba
Cash for clunkers39 Argentina
Judging the dirty war
Asia40 South Korean politics
From dissident topresident
41 The war in AfghanistanAbout-face
42 Chinese IndonesiansSent down
42 House prices in AustraliaShuttered dreams
43 Commemorating ShivajiThe highest praise
44 BanyanResisting the Philippines'war on drugs
3
Coùrting trouble Theimpulsiveness andshallowness of America'spresident threatens theeconomy as well as the rule oflaw: leader, page 8. Theadministration's economicstrategy is good in parts, butunimaginative and incoherent,page 14. Excerpts frorn ourinterview with Donald Trump,page 16
The sacking of James ComeyLinks between the Trumpcampaign and Russia shouldbe investigated byanindependent commission:leader, page 9. Donald Trump'smove against the FBIdireetorwas either incompetent ormalign, page 33. EvenRepublican senators look at MrTrump and despair: Lexington,page 36
Why Marx stili matters TheLabour leadership is right-KarlMarxhasa lottoteachBritain: Bagehot, page 28
~~Contents continues overleaf
4 Contents The Economist May isth 2017
The collapse of retailing Thedecline of established ways ofshopping is a threatto workersand investors, pages 54-56
India's finances Unless itreins in spendthrift states,India will eventually suffer a~sèà~~fi~i~~~~àtl~f,pà~~I).States are on a borrowingspree ofthe kind that rarelyends well, page 57
SurrogacyCarrying a child forsomeone else should becelebrated-and paid for:leader, page 10. Even asdemand for surrogacy soars,more countries are trying toban it, page 47
China45 HeaLth care
Wanted: family doctors46 Migrants' woes
A literary sensation
International47 Surrogacy
Help wanted
Business49 MiddLe Eastern airLines
Missed connection50 EB-5 visas
Citizen Kushner51 Sinclair Broadcast
Asignal event51 Business advice
Ageneral's wisdom52 Atale oftwo tech hubs
Silicon Valley North53 Schumpeter
Warding off activists
Briefing54 American retaiLing
Sorry, we're closed
Finance and economics57 India's economy
Spendthrift states58 Buttonwood
Fund managers underpressure
59 Clearing-housesThe Brexit effect
59 Africa' s economyDispensing withinformalities
60 China's economyIn the name of GDP
60 Crowd-sourdngThe wisdom ofthe herd
61 Free exchangeWilliam Baumol
Sdence and technology62 Artifidal intelligence
Shall we play a game?64 New materials
The lotus position64 VioLins
Debranding
Books and arts66 FabLed places
The dream beyond thedesert
67 The maths of lifeMr Big
67 MemoirsNeurosurgeon, revealthyself
68 JohnsonHit and misspeak
69 Britain's OlympicathletesWhat price victory?
69 Art and artists in AfricaThe next big thing
72 Economic and finandalindicatorsStatistics on 42 economies,\1l~ i! ç~Q~~~lQQk atcommodity prices
Obituary74 Ueli Steck
Highest, fastest
AI and video games Whyresearchers into artificialintelligence are so keen onvideo games, page 62
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Orecycle() 2017 The Economist Newspaper Limited. AHrights reserved. Netther this publication nor any partofitmay be reproduced. stored in a retrievatsystem, ortransmitted in anyform or byany means, electrontc. mechenicat. photocopying, recording or other-wise. withoutthe prior permission ofThe EconomistNewspaper Limited. Published everyweek, except for a year-end doubleissue. byThe Economist Newspaper limited. The Economist is a registered trademarkofThe EconomistNewspaper limited. Prtnted byVogel Druck und MedienserviceGmbH, teibniestrafse 5, 97204 Hcchberq. Deutschtand. France, NuméroCommission Paritaire: 68832 GB. Encartd'abonnement dedeux pages sttué entre tes folios 10et 130. Rapp. Italia: IMDsrl ViaGuido da Velate 1120162Milano Aut. Trib. MI272 del 13/04/88 Poste Italiane SpA· Sped Abb Post Dl353/2003 (ccnv. L 27/2/2004 n.46) art l com ma l DCBMilano, Dir. Resp. Domenico Tassinari