Still, that is one of just a few dozen such deaths in Portugal in the past year. In Sweden, there may be ten times as many. Mr Trump promised that Mr Kim would gain all manner of riches if he agreed to give up his nuclear programme. If that upbeat meeting was any guide, North Korea should long ago have made its first strides towards the nuke-free sunlit uplands that Mr Trump envisaged.
But not much has happened. North Korea continues to expand its nuclear programme, in violation of several UN resolutions. Attempts to establish regular working-level talks to flesh out the agreement between Mr Trump and Mr Kim have led nowhere. What has gone wrong? America and North Korea disagree about how to interpret the vaguely worded Singapore deal.
America says this means that North Korea must first give up its nuclear programme, or at least take irreversible steps towards this goal, before receiving anything substantial in return. North Korea says the priority is to establish normal relations. It claims that it has already made several important concessions to show its good will—such as a freeze on nuclear testing that preceded the Singapore summit, its claimed dismantling of the Punggye-ri nuclear test site which was about to close anyway and the return of some bones of American soldiers who died in the Korean war of In line with an accord reached on that occasion, the North has blown up some of its guard posts in the demilitarised zone that divides the two Koreas—see picture.
But America and North Korea have been stuck in a rut since June. The lack of progress in the nuclear talks has begun to hinder the inter-Korean rapprochement, too. And although South Korean peaceniks have staged flower-waving performances in the centre of Seoul to encourage Mr Kim to visit the city, no date for such a trip has been scheduled.
The North is angry about this. It threatened to return to nuclear- and missile-testing if America did not lift sanctions and help with a peace treaty. But North Korea has shown little interest in doing so.
Even Mr Trump has begun to share the scepticism of his advisers. There are rays of hope. When Mr Pompeo visited Pyongyang in October for the first time since July, he returned with an offer from North Korea to allow inspectors to visit Punggye-ri. This appeared to be a hint that America remains willing to try to find a way of breaking the impasse, even though it is unlikely to make big concessions up front. Mr Trump, it is safe to assume, still wants to be seen as a master dealmaker.
So he may decide to meet Mr Kim again and offer some symbolic gestures should Mr Kim agree to let in inspectors. That might enable the two sides to begin working on a more comprehensive deal. If Mr Kim does not budge, America and its allies may respond by trying to secure a more rigorous enforcement of sanctions. The trade war between China and America is hardly conducive to co-operation. The risk of another nail-biting escalation of tension between America and North Korea is still high.
Smaller chairs and tables, for the legal teams, face each other across the room. Another row of seats is reserved for observers. These remain empty. Justice in China is rarely open for all to see, no matter how much officials insist that proceedings are public. But restricted access to this room, on the third storey of a nondescript building in Qingdao, a coastal city in Shandong province, has done nothing to diminish the attention focused on a recent hearing there. Gay-rights activists, a small but increasingly vocal group, see the case as a landmark one for their cause.
The plaintiff is a year-old teacher who claims he was unjustly fired by the kindergarten in Qingdao where he worked. He goes by the pseudonym Ming Jue. Mr Ming says his bosses confronted him after seeing a message he had posted on social media about a gay-pride event he had attended. They claimed that parents objected to the employment of a gay teacher, and said their business would suffer if Mr Ming remained at the school. Mr Ming says that he had tried to nurture the right values among his pupils.
Justice in China is not only opaque: it also rarely involves much argument. Mr Ming only got one minute hearing. He will hear nothing more until the court issues its ruling, probably by the end of November. Mr Ming says that if he wins, it will send a signal that bigotry against gay people is unacceptable. In the authorities made it even tougher by rounding up hundreds of independent lawyers and members of their staff—people who had played a vital role in bringing cases to court involving abuses by officials.
In the past few weeks the authorities have arrested dozens of university students who have been campaigning on behalf of workers at a factory in the southern city of Shenzhen who want to form a trade union. LGBT activists struggle on, helped by a gradual change in public and official attitudes.
Several cases involving gay rights have come to court in recent years. Rulings have often been unfavourable to the complainants. One suit was lodged in Shenzhen in by an employee who was fired from an interior-design company after being outed as gay in an online video.
He lost the case and his appeal was rejected. But in a transgender worker who was dismissed from a job at a clinic in Guiyang, another southern city, won partial compensation, despite failing to convince the court that the firing itself was illegal. Despite some setbacks in court, campaigners see progress of sorts.
That gay-rights court cases are heard at all is a small step forward, they believe. So too is the debate surrounding them that bubbles up on social media—censorship of traditional media had previously meant that such discussion was stifled. A graduate law student in Beijing, who is the co-founder of an LGBT advocacy group, compares the approach of activists like herself to that of counterparts in America who, in recent decades, have advanced their cause through the courts.
So long as they do not try to form a nationwide movement—the party fears anything national that it does not control. Unlike environmental activists, advocates for sexual minorities do not face opposition from powerful vested interests, such as polluting industries and the local governments that profit from them. Joan, the activist in Beijing, contrasts the tactics used by her group with those of the students who have been riling the authorities with their campaign for labour rights.
However, next year could be a tougher one for activists of every stripe. Campuses will be watchful for any unauthorised attempt to mark the th anniversary of the May Fourth movement involving nationalist protests by students that led to calls for democracy. In commemorations of that movement fuelled nationwide pro-democracy unrest. If any parade is permitted next year, it is far more likely to involve tanks, missiles and goose-stepping troops.
The company has spent the past year fending off critics who claim it is addictive, bad for democracy and overdue for a regulatory reckoning. A lower blow is the suggestion that Facebook may become like Yahoo, the once high-flying internet firm that plunged. Even a year ago the idea would have been unthinkable. The social-networking giant, which runs Instagram, WhatsApp and Facebook Messenger as well as its own core service, was thriving.
But since January it has become mired in a series of controversies, misjudgments and missteps. It had to admit that it had shared the personal data of 90m users with outside firms without permission. It later suffered a data breach affecting 50m users.
The past week has brought more bad news. The comparison to Yahoo is imperfect. And the competitive landscape was different. Executive turnover was a leading indicator of its decline; before Ms Mayer was hired it went through four chief executives in three years. In another echo, the run of negative headlines is harming employee morale. That raises two risks. Star performers may leave to work at less controversial companies, and Facebook could end up paying dearly for mediocre employees to stay on as its share price falls, it has to hand out more in stock-based compensation to keep people.
How might things play out? Facebook is still strong but it is precariously balanced at the top of the industry, facing several big challenges in the coming year. Above all, it must grapple with the changing ways that people use its products, which could have a huge impact on its profits.
It is quickly ramping up the number of adverts users see there. Now ads are around one-fifth of all posts that users see on Instagram, which is probably double what it was a year ago. This could irk people, who may choose to spend less time on Instagram in future, just as they have done with Facebook itself. Already users are spending more time on products that do not offer the same opportunities for advertising. Messaging apps such as WhatsApp are also growing in popularity but currently lose money.
The second is that it misleads its customers. Brian Wieser of Pivotal Research in New York, for example, has pointed out to the company that it was incorrectly promising advertisers that it could reach more year-olds in America than actually exist there. Facebook has still not removed the claim, despite a class-action lawsuit against the firm for allegedly padding its audience numbers.
A senior marketer for a large American bank says Facebook has made mistakes on measuring engagement, reach, views and other data for no fewer than 43 products. He expects to reduce how much his firm spends on Facebook and predicts that other marketers will as well next year. That will further diminish its attractiveness in the eyes of marketers.
Mr Zuckerberg and Ms Sandberg are under pressure to prove to users and advertisers that Facebook is not only trustworthy but worthy of their time and money. Mr Zuckerberg controls the majority of voting shares and is unlikely to go.
A History of America in Maps. By Susan Schulten. The document he received, coloured like a patchwork quilt, was like none produced before it. Officials had annotated it county by county with data from the census: the population of whites, slaves and men of military age, heads of livestock and acres of crops. Charging towards Atlanta, Sherman knew exactly where to supply his Union army, which fields of sugar and cotton to burn, and crucially, where resistance would be thin on the ground.
Maps are often thought of as records of facts and terrain rather than actors in history. It is also an instrument of persuasion and sometimes of conquest. For example, 16th-century European explorers sought a route west from America to China, so they invented waters spanning the continent to convince monarchs to pay their way.
Well into the 18th century, meanwhile, California was pictured as an island, a state of affairs that many Californians might cheerfully favour today. Beautiful and strange, this parade of visualisations reclaims the American story from the textbooks and makes it vivid and new. Like a giant, grown-up flip-book, it demonstrates, step by step, how America came into being. To name territory is to claim it, enticing settlers, fostering a sense of nationhood, erasing the indigenous population and bison that lie in the way.
Until the midth century the continent was a stewpot of conflicting imperial aims, from Russian and British fur traders to French explorers to the Spanish who once dominated the south-west. History, it shows, is as malleable and fluid as the meanders of the Mississippi river, the varying courses of which are pictured over thousands of years see image below , or the grim heat maps of a rapidly spreading AIDS epidemic.
Data is easily manipulated to engineer or reinforce social segregation. By contrast, the nightlife of Harlem in above was a raucous blend of different races and booze. Alongside the curiosities, Ms Schulten weaves in eye-popping facts of sharp contemporary relevance. Maps of the colony of Virginia help to show the centrality of enslaved Africans to the growth of the tobacco economy. Ms Schulten is a historian, not a geographer.
Her aim, she says, is to amplify seldom heard voices, particularly those of African-Americans and native peoples silenced by the headlong rush of westward expansion. Like the mighty Mississippi, the American experiment continually overflows and reshapes its banks. In reality, the political twists in Berlin came about almost entirely because of the dire military situation facing Germany after the failure of the German spring offensive on which the high command had staked all, the worsening food and materials shortage caused by the Allied naval blockade, the surrender of key German allies, and a string of Allied victories on the Western Front.
The high command, led by Paul von Hindenburg, knew in November that the army was incapable of withstanding further Allied attacks. No concessions were made, and Erzberger signed, albeit under protest. The German army was in full retreat by the autumn of , having been forced from its powerful defensive positions. The Allied powers captured thousands of prisoners daily, the British army taking some , in October alone.
The military situation was so desperate that it caused the mental collapse of General Erich Ludendorff, one of the leaders in the German high command. It was military defeat that forced German commanders to seek an armistice. There are four inseparable requirements for absolving sins: self-examination; regret for having done the sinful act; a frank confession of the guilt; and a strong commitment to act wisely in future.
Only the completion of these four processes makes the absolution rational, otherwise the culture of sinning is sure to continue happily. What 21st-century capitalism needs, as Ayn Rand argued over 60 years ago, is not a morality that apologises for the system, but one that celebrates the virtues responsible for the astounding improvements in human life that capitalism has created; the virtues of rationality, productivity and pride in individual achievement. When Professor Collier insists that the state must be able to harness markets to an ethical purpose, he is implicitly denying that the dynamic, productive activity of individuals pursuing their own values is ethical.
Here again, we see an attempt to defend capitalism while stubbornly adhering to a pre-capitalist, indeed anti-capitalist, morality. The governments of Russia, China and Pakistan are well-known for their official arbitrariness and grave human-rights violations.
We should expect that they would abuse Swiss data to pursue people standing in the way of their political ends. The tax authorities in Russia, for example, have made life hard for those who support liberal causes. The synagogue bears the Hebrew letters of its name underneath stained-glass windows displaying Stars of David. I take issue with the unfortunate word because it implies that the proper conduct for a synagogue is to become unmarked.
On the contrary, American Jews and our temples have long enjoyed a visible presence across the United States, even in the face of violence. Now is not the time to run and hide. It is not a complete break that is being sought, so much as contemporaneous relationships with other parties and a lowering of contributions, while still maintaining access to the original partner. As a reader of The Economist for two decades, it has taken me a while to adjust to your new layout, which I am now enjoying.
However I must point out one oversight. After the Obituary seems appropriate. One cannot stand, another cannot sit, and the other two live in dustbins. T O STAND ON the white cliffs of Dover is not merely to reflect on British isolation, splendid or otherwise, or on the remarkable Cretaceous geology beneath your feet, or even to wonder at the perennial lack of bluebirds.
It is to look down at a marvel of frictionless trade in action. Ships like the Pride of Kent and the Calais Seaway pass through its seawalls ten times a day; as many as 10, lorries snake slowly but uninterruptedly in and out of the port. A lot of it is needed urgently. If no new actions intervene, the view will be quite different on March 30th next year. If the current draft deal on Brexit is accepted by a majority in the House of Commons and by all the other EU governments, its terms will then come into force, and an orderly transition period will get under way.
If the deal is not agreed, and if no action is taken to change the timing of withdrawal under Article 50, Britain will go its Brexit way with no deal. They insist that no deal is greatly preferable to the deal now on the table, in which they perceive unacceptable constraints on British sovereignty. This is triply disingenuous. Changing to WTO rules is about more than tariffs and will affect large swathes of the economy.
A no-deal Brexit is about a lot more than trade—it would see many legal obligations and definitions lapse immediately, potentially putting at risk air travel, electricity interconnections and a raft of financial services, and throwing into doubt the status of EU citizens in Britain and British citizens in the EU. And goodwill may be in very short supply after a deal has foundered. Instead, expect acrimony—both within whatever rabble then runs Britain and between it and the EU.
According to the Confederation of British Industry, a lobbying group, EU exports to Britain would face a trade-weighted average tariff of around 5. Goods going the other way would face tariffs of 4. To lower tariffs within the WTO you must either enter into a fully fledged trade deal or lower them for all-comers: no playing favourites. Trade beyond the EU would be affected, too, since all the trade deals Britain currently benefits from were negotiated through the EU and lapse on Brexit.
This could lead to formal trade disputes in time. But in the short term trade on WTO terms should be able to carry on. Some Brexiteers favour a radical response: get rid of all tariffs on imports, as Hong Kong, Macao and Singapore have done. Extravagant assumptions about the benefits of this explain why some pro-Brexit economists see no deal as much less damaging than most of their colleagues.
But tariff abolition would have huge effects on agriculture and some types of manufacturing. The government has no plans for such an extirpation. Come-what-may-ers who accept this say that even if tariffs remain they can all be dealt with frictionlessly on the internet. And tariffs are not the only thing changing. There are also excise duties and health checks for food, plants and animal products—much harder to replace with a webpage.
Even if the British were to relax some of these requirements—which would in some cases need changes to the law—the French show no indication of wanting to. Such cares taken by the French could be bad news for British farmers and fishermen, who export a lot. The odd rotting fish on the quayside apart, what harm do a few more lets or hindrances at the border do? A lot. Small delays add up to large tailbacks.
Researchers at Imperial College London have calculated that two minutes more transit time per lorry at Dover and the Channel Tunnel translates into a 47km traffic jam. The British government has contingency plans for turning a 20km stretch of the M20, the motorway which runs through Kent to Dover, into a multi-lane lorry park.
France has published a draft law that would grant the government emergency powers to implement measures that could minimise the disruption in the event of no deal: it makes for sobering reading. British ports themselves seem to expect a permanent move away from roll-on-roll-off; those that deal with containerised shipping have been making plans for expansion. Gas pipelines and electricity interconnectors are not subject to border checks or tariffs.
But they are subject to law. Britain provides most of the gas that keeps Irish homes warm; Northern Ireland, which has only one interconnector to mainland Britain, gets enough of its electricity from the Republic for the possibility of an interruption to be somewhat disconcerting.
Sensible—but not necessarily accommodating. Reducing trade barriers on services requires regulatory harmonisation, which the WTO members find very hard. The lack of WTO rules means that the EU could easily block or hinder British firms offering services on the continent.
Other big banks have chosen Frankfurt or Paris—inconvenient, perhaps, but not a game-changer. One banker says that he is much more concerned about the broader economic effects of a no-deal Brexit on his clients than the direct effect on his industry. The status of some financial contracts is a bigger source of worry. As the rules stand, clearing in London would no longer be available for clients in the EU after a no-deal Brexit—bad for the City, worse for many EU investors.
But the future of clearing remains unclear. That is one of the reasons why a no-deal Britain would see inflation rise. The other is the unavoidable fall in the pound. It could drop a lot further; some talk of it reaching parity with the euro, or even the dollar.
Since the referendum Britain has largely financed this deficit with short-term financial flows, such as deposits to banks. Higher inflation and interest rates would cause pain for businesses borrowing money and for citizens in receipt of working-age welfare payments, most of which are frozen in cash terms from to It would also cut the purchasing power of salaries.
Such purchasing power matters most when there are things to purchase. In the days and weeks after a no-deal Brexit that will sometimes not be the case. Lorries gridlocked across Kent and the Pas-de-Calais will not be the only logistical problem. British lorries can currently carry goods between any two points in the EU. After a no-deal Brexit haulage would instead be subject to the Vienna Convention on Road Traffic of It was for this express reason that Britain bestirred itself to ratify the convention last March.
To avoid a spectacular failure of the transport infrastructure Britain will need unilaterally to allow EU lorries into Britain, which will not please its native hauliers. Even so, prices will go up and capacity will shrink. With the country in a logistical seizure that suggests a dearth of at least some things in some areas.
A few in the industry are speculating that the government might take control, as the Labour government did in the face of blockades at oil refineries in , working with the industry to allocate petrol to stations in areas with large populations. Industry leaders could conceivably work with the government to determine which areas should be given priority for food deliveries and distribute the food accordingly.
In those circumstances, some form of rationing would be almost inevitable, reckons one big supermarket. A no-deal Brexit would also disrupt the supply of medicines and medical devices. Mike Thompson, head of the Association of the British Pharmaceutical Industry, says the industry has been on notice since July to accelerate its preparation for no deal. Stocks of medicines have been increased; Novo Nordisk, a Danish firm, is doubling the insulin it has on hand to guarantee a week supply.
But in October MPs were told there were simply not enough cold-chain warehouses to ensure supplies of drugs that need a constant temperature from manufacture to injections. Drug companies working with the government have recently been prevented from talking about the planning needed by strict gagging clauses. That may make it easier for commercially sensitive information to be shared between government and industry, but it limits the scope for scrutiny or reassurance.
What is clear is that the various factors at play will drive up costs for the NHS. Another business which will be thrown off-kilter is the car industry see map , on which more than a million jobs depend. The lean manufacturing that Toyota, Nissan and Honda introduced when they made Britain a manufacturing base requires supply chains which criss-cross the country and the EU—and now make the industry vulnerable. That combination "will guarantee us a steady outlet for lots of our LNG for decades," said the Exxon manager who was not authorized to discuss the project and spoke on condition of anonymity.
One of the company's top policy goals this year, the manager said, is building its Chinese client roster. An Exxon spokesperson declined to provide an executive to discuss the company's LNG investments in China. Years in the making, the strategy delivers an added benefit: helping Exxon sidestep a global trade war.
Exxon is among the top ranked U. Tesla Inc this month acquired a Shanghai site for a car and battery-manufacturing complex. The decision to expand its LNG production and open an import terminal in the world's fastest growing LNG market is a step by Exxon Chief Executive Darren Woods to pull the company out of an earnings rut that has left its shares flat over the past seven years.
Woods appeared holding discussions with Chinese Premier Li Keqiang on state-run media last month days after disclosing local approvals for the LNG terminal and a massive chemical project in Guangdong province. Since becoming CEO last year, Woods has pushed Exxon to take greater risks, including in energy trading operations. His timing with LNG is key. Next year, China will become the world's largest importer of natural gas, and its LNG imports are forecast to rise 70 percent by , from Exxon has not publicly named its partner in the import terminal.
State-run power company Guangdong Yuedian Group said on its website it will join the project. The multi-billion dollar bets still faces risks from the Sino-U. China has vowed to respond to any new tariffs by the Trump administration, which recently accused China of meddling in November elections and trying to recruit Americans to spy for it.
But it remains unclear what that response will be and if it puts agreements like Exxon's in China in jeopardy. In addition to the LNG terminal, Exxon received approval for its first wholly-owned chemical plant in China, becoming one of two foreign firms including Germany's BASF to gain approval to operate such plants without a local sponsor. China in embarked on a huge program to shift millions of households and factories from coal to natural gas for power and heating, a move to clear the smoggy skies over its cities.
That surge has injected new life into an LNG industry that suffered from plunging prices between and , which forced energy companies to put off liquefaction projects. But with prices for LNG rising this year, major producers have boosted investment. Exxon and other LNG producers also are adapting to changing buyer behavior.
In the past, LNG was dominated by long-term supply contracts - especially with Japanese and South Korean buyers - that could span several decades and in which buyer and seller agree to a fixed monthly volume at a set price formula, usually priced off crude oil. That is changing, in part because China's importers either demand more contract flexibility or simply buy LNG at short-notice in the spot market whenever they need it.
The shift away from such rigid price-supply deals is forcing producers to trade new LNG supplies and give import terminals a larger role in encouraging spot purchases. A British farmer came up with a jokey idea to rent out her goats to liven up video call meetings -- and found an unexpected source of lockdown income. Bloomberg -- Wintry weather spreading across much of the U. While cold fronts typically boost consumption for heating fuels, this year is different. The stronger demand could boost prices for home heating, make it more expensive to produce plastic and curb exports.
Propane production has risen in recent years as the fracking boom sent oil and natural gas production skyrocketing and turned the U. An ice storm sweeping across Arkansas and Missouri will bring snow to Washington by Thursday, and temperatures are forecast to be 30 to 40 degrees Fahrenheit 17 to 22 Celsius below normal through the central U. Last week, demand of propane and propylene surged to a record 2.
That pushed propane supplies to the lowest in nearly two years. Demand for propane has also increased due to rising petrochemical production. Over the last decade, the U. This year, the propane market may also have an additional source of demand: outdoor dining. In order to keep businesses alive during the Covid pandemic and lockdown restrictions, many restaurants in northern U.
Last month, prices surged to Updates with chart, Saudi propane prices in the seventh paragaph For more articles like this, please visit us at bloomberg. Yoshiro Mori, president of the Tokyo Olympics organizing committee, is set to step down over sexist remarks he made that women talked too much, the Fuji News Network reported on Thursday.
The comments, made at a Japanese Olympic Committee board meeting in the first week of February, set off a firestorm at home and abroad and could become the latest obstacle to the Summer Games, already postponed for a year due to the coronavirus pandemic. At a hastily called news conference on Feb. Asian equities pulled back on Thursday after a strong run-up in recent weeks as investors took a breather while keeping abreast of progress in US stimulus talks and the rollout of vaccines.
Alan Ford, a s Italian comic strip following hapless secret agents as they battle a bizarre cast of villains, including one who steals from the poor and gives to the rich, was intended as satire. Labor wants the auditor-general to get to the bottom of how Peter Dutton handed out community grants, accusing him of choosing projects that benefited the Morrison government. Mr Dutton's home affairs department recommended funding a list of 70 projects using a merit-based assessment under the third round of the Safer Communities program, according to documents obtained by the ABC.
Bloomberg -- U. The year Treasury yield fell back to 1. Cash Treasuries are closed until the London open due to a holiday in Japan. Asian stocks were little changed amid low volumes, with China and South Korea markets closed. Hong Kong equities shrugged off a report that Chinese authorities had detained a Tencent Holdings Ltd.
The dollar held losses in the wake of the inflation report. Crude dropped after a spell of gains. The CPI data are part of a debate in financial markets over the course of inflation. Despite the muted January figure, some investors continue to expect intensifying price pressures in the months ahead as President Joe Biden pushes for major stimulus and more vaccinations allow virus-related restrictions to be eased, spurring consumer spending.
He also said it will require more than supportive monetary policy to achieve and sustain maximum employment. The daily number of new coronavirus cases in the U. Here are some key events coming up:Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
Euro Stoxx 50 futures were flat. CurrenciesThe yen was at The offshore yuan was at 6. The Bloomberg Dollar Spot Index was flat. BondsThe yield on year Treasuries fell about three basis points to 1. CommoditiesWest Texas Intermediate crude slid 0. Gold shed 0. For more articles like this, please visit us at bloomberg.
Queensland's top medical research institute has apologised after patient data and potentially staff resumes were accessed by an unknown third party on Christmas Day. The QIMR Berghofer Medical Research Institute was notified that its data stored on an external fire-sharing system hosted by Accellion was breached on by an unknown entity on February 2.
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