OnthecoverWith his caLlto put "AmericaFirst", Donald Trump is thelatest recruit to a pessimisticand dangerously zero-sumnationalism: leader, page 9.ALlaround the world,nationalists are gainingground. Why? page 51. Chinahas a particularvision ofethnidty and nationhoodthat carries big implicationsat home and abroad, pages20-22

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••Volume 421 Number 9016

Published since September1843to toke part in "o severe contest betweeninteLLigence, which presses jotword, andan unworthy, timid ignorance obstructingour progresso "

Editorialoffices in London and also:Atlanta, Beijing. Serlin, Brussels, Cairo, Chicago,Lima, Mexico City, Moscow, Mumbai, Nairobi,New Delhi, NewYork, Paris, San Franasco,Sào Paulo, Seoul, Shanghai, Singapore, Tokyo,Washington OC

Leaders9 Trump's world

The new nationalism10 Obamacare

And a pony far everyone10 The French election

Europe's populist danger12 Padtic trade

Try, Persist, Persevere!14 Tata Group

Ratantrum

Letters16 On the American election

Brieting20 Who are the Chinese?

The upper Han

Europe23 France's Republican

primaryThe veterans

24 The Balkans returnEnd ofthe Clinton era

25 Russian intriguesArresting developments

25 Procurement spendingRigging the bids

27 CharlemagneMerkel, iron waffler

Britain28 Online shopping

Solid melts into air29 Brexit and public opinion

Fifty-fifty nation30 Bagehot

The special relationship

Middle East and Africa31 The nuclear dea l with Iran

On borrowed time32 Sex scandals in Iran

Theocratic trouble32 Warin Syria

The next pus h33 Ghana's election

Heirs to Nkrumah34 Corruption in Sierra

LeoneCall itin

\ \ 'United States

35 The Trump administrationTower of silence

36 American health careObamasnare

37 Trump and the SupremeCourtListing right

37 Voter registrationOregon lets it ride

38 Capital punishmentDeath has less dominion

38 Conflicts ofinterestTrusts unverified

39 Election dataIllness as indicator

40 LexingtonDemocrats on the brink

The Americas41 Latin America and China

Agolden opportunity42 Haiti after the hurricane

Voting in a ravaged land43 Bello

Colombia's new, improvedpeace deal

Asia44 The coLlapse ofTpp

Trading down45 South Korean politics

Talking impeachment46 Indonesian politics

Tolerance on trial46 Malaysia's lMDB scandal

Nothi ng to see here47 Islamic State in Pakistan

Lethal partners47 Australia and

asylum-seekersThe American solution

China48 Coping with America

Weighing up Trump49 Hong Kong's legislature

Localists disba rred49 The Communist Party

Call me comrade50 Banyan

A China-America romance?

What will Trump do? Thepresident-elect appears to beunsure whether or nottogovern as he campaigned, page35. On Obamacare, he has madea promise he cannot keep:leader, page 10. The RepublicanCongress scrambles to find analternative to the AffordableCare Act, page 36. MrTrump'sattempt at Reaganomics willprove costlier than theoriginaI: Free exchange, page66. The next administrationmay slow America's clean-energy transition, butit willnot derail it, page 56

French politics The centre-right's nominee will probablyface Marine LePen forthepresidency, page 23. Whocanbeat her? Leader, page 10

Iran The nuclear deal isunlikelyto survive, page 31.A Koranic reciter hasthreatened the clerics' moralauthority, page 32

•• Contents continues overleaf

6 Contents The Economist November 19th 2016

Trade deals in Asia America'sparticipation in TPPis over.But don't give up efforts toliberalisetradeand harmonisestandards in Asia: leader, page12. The pact's demise leaves aworrying void in Asia, page 44.AChina-America romance isnot as unlikely as rnany punditsthink, but nor could it last:Banyan, page 50

;~t "(~

TurmoilatTata One of Asia'smostimportant firms hasdescended into chaos. ltspatriarch, Ratan Tata, is

'largelyto blame: leader, page14. lndia's biggestcompanyadds internal strife to its longlist of problems, page 55

7,:::ffij,Magnetic moments3D printers promise better,cheaper and more powerfulmagnets, page 68

International51 Global politics

LeagueofnationaHsts

Business55 Tata Group

Clash ofthe Tatas56 Donald Trump and

American energyPolluting the outlook

57 MiningVein hope

57 Samsung and HarmanAmp my ride

58 Corporate ItalySeize the day

59 Consumer goodsPot of gold

60 SchumpeterUncertain business

Finance and economics61 Emerging markets

Reversal of fortune62 Buttonwood

Underfunded pensions63 Iceland's economy

Bubbling again63 Agricultural Bank of

ChinaSanctions with Chinesecharacteristics

64 Banks and "too big to fail"Kash call

64 China's corporate debtState of grace

65 Credit in ChinaJust spend

66 Free exchangeReaganomics, Trump-style

Sdence and technology68 Additive manufacturing

Magnetic moments69 Oceans in space

Not so lonely sea in the sky69 Malaria

The biter bit70 Censusing fisheries

Where's the catch?

Books and arts71 Globalisation

The third wave72 Somalia

Hope among the horror72 Campaign strategists

The art of political war73 New fiction

Rhythm of life73 Physics

Empty space, the finalfrontier

74 Classical musicWest meets East

78 Economic and finandalindicatorsStatistics on 42economies, plus a closerlook at access to electricity

Obituary80 Leonard Cohen

Raising the song

Leonard Cohen The novelist,poetand singerdied onNovember zth. aged 82:Obituary, page80

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