The Economist - November 5, 2016.pdf

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China’s fury with Hong Kong
Sects and lies in Lebanon
India’s tax miasma
Silicon Valley pays its pals
NOVEMBER
5TH
–
11TH 2016
America’s
best
hope
PUTTING YOU AT THE CENTER OF OUR
WORLD
Welcome to our Business Class, where your comfort is our priority.
AIRFRANCE.US
Contents
5
The world this week
32
7
8
9
9
10
On the cover
Why we would cast our
hypothetical vote for Hillary
Clinton: leader, page 7.
A late flurry of support for
Donald Trump creates
uncertainty and fear, page 21.
Good people have been
angered into backing a
dangerous man: Lexington,
page 28. On the trail, page 22.
American business finds
itself without a political
home: Schumpeter, page 60
The Economist
online
Daily analysis and opinion to
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Economist.com
The Economist
November 5th 2016
3
Leaders
The presidential election
America’s best hope
Water
The dry facts
Lebanon
Time to talk Taif
Taxation in India
Take it easy
Britain’s House of Lords
Time to ennoble Nigel
33
33
34
35
Asia
South Korean politics
No confidantes
Australia and
asylum-seekers
Bashing the boat people
Sex education in Japan
Tiptoeing around
The South China Sea
Duterte waters
Politics in Tamil Nadu
Suspended animation
China
Politics in Hong Kong
China’s rage at separatism
The party leadership
A new title for Xi
Menstruation
No longer taboo
Banyan
The legacy of Sun Yat-sen
Middle East and Africa
Lebanon
Census and sensibility
Saudi Arabia’s reforms
Building on sand
Cronyism in South Africa
Friends with benefits
Boko Haram
Rounding up the survivors
Censorship in Kenya
X-rated everything
Europe
The battle for Russia’s
history
Remember, remember
Putinism’s icons
A tale of two Vladimirs
France’s president
self-destructs
Mr 4%
More arrests in Turkey
Goodbye, “Republic”
The German elections
in 2017
Best frenemies
Charlemagne
Illiberal Poland v the EU
Letters
12 On Jordan, democracy,
Brexit, Spain,
infrastructure,
depression, private
equity, Van Cliburn,
Elon Musk
Briefing
17 Water scarcity
Liquidity crisis
United States
The battleground
Countdown
White voters
What’s going on
The campaigns
On the trail
African-American voters
Early, but less often
Election brief:
Foreign policy
World-shaking
Lexington
Donald Trump, vigilante
The Americas
Dams in the Amazon
Not in my valley
Rio de Janeiro
A Pentecostal’s progress
Violence in Argentina
Murder and machismo
Bello
Venezuela and the Vatican
36
37
37
38
Britain’s Chinese
Helped by
high-end immigration from
the mainland, the Chinese
community is coming out of its
shell, page 48
39
40
41
41
42
21
22
22
25
27
28
E-mail:
newsletters and
mobile edition
Economist.com/email
Lebanon
The political system
is creaking, and needs reform:
leader, page 9. New data
reveal a looming crisis for
Lebanon’s ruling elite,
exposing the fiction at the
heart of the country’s politics,
page 39
Print edition:
available online by
7pm London time each Thursday
Economist.com/print
43
44
44
45
46
47
Audio edition:
available online
to download each Friday
Economist.com/audioedition
29
30
Volume 421 Number 9014
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:
Atlanta, Beijing, Berlin, Brussels, Cairo, Chicago,
Lima, Mexico City, Moscow, Mumbai, Nairobi,
New Delhi, New York, Paris, San Francisco,
São Paulo, Seoul, Shanghai, Singapore, Tokyo,
Washington DC
30
31
Water
It is scarce because
it is badly managed: leader,
page 8. Why the world needs
to conserve water, use it more
efficiently and establish clear
rights over who owns it,
pages 17-19
1
Contents continues overleaf
4
Contents
66 Aid in kind
Free two shoes
67 Refugees in Sweden
Seeking asylum—and jobs
68 Free exchange
The gig economy
Science and technology
Military supply lines
Having no truck with it
How to store electricity
underwater
Depths of imagination
Scrutinising science
The watchers on the web
Tracking down missing
clinical trials
Tested, and found wanting
Oenology
The war on terroir
Cancer treatment
Missile tracking
Books and arts
Contemporary America
Death by the barrelful
Fiction from Israel
To laugh, to weep
Football writing
A game of two halves
Philip Roth
America across the river
Christianity and history
The search goes on
Maps
X marks the spot
The Economist
November 5th 2016
48
49
50
50
Hong Kong
China is preparing
to stop two politicians who
want greater autonomy for
Hong Kong from being sworn
in as legislators, page 36
Britain
The Chinese in Britain
Raise the red lantern
Life sciences
After Brexit
Cyber-security
Britain flexes its muscles
The Article 50 case
Taking back control
69
70
71
71
72
72
International
51 Online governance
Lost in the splinternet
Business
Tech firms’ pay wars
Money honeys
The lure of Los Angeles
Silicon Beach
Japanese entrepreneurs
Slow to startup
Chinese aerospace
We are sorry to
announce...
Online advertising
Keeping watch
Niche smartphones
A sea of black mirrors
Schumpeter
Political business
Finance and economics
Shale oil
Permian hyperbole
Buttonwood
A turning-point?
China’s industrial policy
Plan v market
America’s foreign debts
Net debt, big returns
Brexit and venture
capital
Turning off the tap
Taxation in India
Lost in transition
Mix your own
How to get
the wine you really want,
page 72
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53
54
55
55
58
Pay in Silicon Valley
As tech
firms battle to hire and hoard
talented employees with huge
pay packages, Silicon Valley
may be changed for the worse,
page 53
59
60
73
74
74
75
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61
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65
India’s tax miasma
The
country risks squandering the
benefits of a ground-breaking
economic reform: leader,
page 9. A tangled system of
taxes will be simplified rather
than overhauled, page 65
65
80
Economic and financial
indicators
Statistics on 42 economies,
plus a closer look at
pension funds
Obituary
82 Valerie Hunter Gordon
and Junko Tabei
Climb every mountain
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The world this week
Politics
2004 until 2009 as a member
of the conservative
ARENA
party. During his tenure offi-
cials put nearly $250m of
public money into private
accounts, prosecutors say.
Marcelo Crivella, a Pentecostal
bishop, was elected mayor of
Rio de Janeiro,
Brazil’s
second-
most-populous city. He has
promised to continue provid-
ing public financing for the
city’s gay-pride parade and
samba schools.
The
FBI
waded into the
Ameri-
can
presidential election by
rebooting its investigation into
Hillary Clinton’s use of a
private e-mail server while
secretary of state, four months
after exonerating her. The
bureau’s director, James Co-
mey, faced fierce criticism for
being vague about the new
probe. The news was the latest
“October surprise” to shake up
a race between Mrs Clinton
and Donald Trump that has
tightened in its final days.
Two
police officers
were shot
dead while sitting in their cars
in Des Moines, Iowa. Local
authorities later arrested a
46-year-old man suspected of
carrying out the “ambush-
style” attacks.
America’s
longest sporting
drought ended when the
Chicago Cubs won the World
Series. They defeated the
Cleveland Indians 8-7 in Game
Seven of the Major League
Baseball finals, after enduring
more than a century without
winning a trophy.
Venezuela’s
leftist govern-
ment and the opposition
began talks mediated by the
Vatican. Tensions between the
two sides increased after the
government blocked a referen-
dum to recall the president,
Nicolás Maduro. The negotia-
tions will cover restoring the
rule of law, the schedule for
elections, human rights and
the economic crisis.
Police in
El Salvador
arrested a
former president, Elías Anton-
io Saca, on suspicion of money
laundering and embezzle-
ment. Mr Saca governed from
Prosecutors detained Choi
Soon-sil, a
South Korean
woman accused of exploiting
her friendship with the presi-
dent, Park Guen-hye, to raise
money for foundations she
controlled and to meddle in
government affairs. Ms Park
appointed a new prime min-
ister, reshuffled her cabinet
and dismissed ten close aides
in response to the scandal.
Thai
authorities announced
that Crown Prince Maha Vaji-
ralongkorn will assume the
throne on December1st, after
the death of his father, King
Bhumibol, in October. The
prince had initially demurred
out of respect for the late king.
The Economist
November 5th 2016
5
$12bn bail-out from the
IMF.
The currency had been trading
well below the official rate on
the black market.
The United Nations sacked the
Kenyan head of a peacekeep-
ing force in
South Sudan
after
finding it had failed to respond
to an attack on civilians by
South Sudanese forces. Kenya,
in turn, said it would with-
draw its troops from the force.
Trouble brewing
China’s
legislature, the Na-
tional People’s Congress
(NPC), was reportedly prepar-
ing to intervene in a row in
Hong Kong
over whether two
legislators who support greater
autonomy for the territory
should be allowed to take up
their posts. The politicians
used derogatory language
about China when they were
sworn in. A court in Hong
Kong began hearing a case
filed by the local government
apparently aimed at blocking
them, but the
NPC
wants to
move faster.
A gas explosion at a privately
owned
coal mine
in the south-
western region of Chongqing
killed 33 workers who were
trapped underground. Two
miners survived the blast.
China
allowed
Philippine
vessels to fish near Scarbor-
ough Shoal, a disputed tidal
atoll. China’s navy had been
chasing them away, but seems
to have halted after overtures
from the Philippines’ new
president, Rodrigo Duterte.
Seize and desist
Iraqi troops moved into an
outlying district of
Mosul,
which Islamic State has held
since 2014. But the battle for the
city has been running for two
weeks, and progress is slow.
The genuine article
The
British
High Court ruled
that the government does not
have the right to invoke Article
50, the legal mechanism for
triggering Brexit, without the
approval of Parliament. The
pound rose following the
news. The verdict is a setback
for Theresa May’s government,
which said it would appeal.
Geert Wilders, leader of the
Party for Freedom, a populist
Dutch
group which has been
leading in the polls, failed to
turn up for the first day of his
trial for hate speech. Instead
Mr Wilders took to Twitter to
espouse more of the anti-
Muslim views that had landed
him in trouble.
Michel Aoun, a Maronite
Christian and former warlord,
became president of
Lebanon,
ending an impasse that lasted
two-and-a-half years.
Syrian
rebels launched an
offensive to try to break the
siege of Aleppo. But an escala-
tion of the bombing there is
expected within days as a
Russian aircraft-carrier nears
the eastern Mediterranean.
South African
prosecutors
withdrew flimsy charges of
fraud that had been brought
against the finance minister,
Pravin Gordhan. The political-
ly motivated charges were part
of a struggle between Mr
Gordhan and the president,
Jacob Zuma. Separately, an
report called for a judicial
inquiry into corruption in-
volving Mr Zuma.
Egypt
said it will float its
pound. The central bank an-
nounced a series of reforms
designed to help secure a
Germany’s
EU
commissioner,
Günther Oettinger, apologised
after an video showed him
mocking Chinese people and
decrying gay marriage. Ger-
many’s Social Democrats
criticised him, but Chancellor
Angela Merkel, the leader of
Mr Oettinger’s Christian
Democrat party, stayed mum.
Politicians in
Ukraine
back-
tracked on a pay rise that
would have doubled their
earnings, following public
outrage after details of their
property holdings were pub-
lished. Some 50,000 officials
had been required to declare
their assets, which include
vintage wine, luxury watches,
flashy cars and a church.
Iceland’s
centre-right Indepen-
dence Party came first in the
country’s general election and
was asked to form a coalition.
The result was disappointing
for the Pirate Party, which won
just 14.5% of the vote despite
polling at 40% earlier this year.
1

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