Most recent 20 articles: Economist
 |
Kenya wants to pioneer a new African approach to global warming - Economist (Sep 14, 2023) |
|
Sep 14, 2023 · Your browser does not support the <audio> element.
On September 3rd William Ruto drove himself to a curtain-raiser for the Africa Climate Summit in a small yellow electric car, flanked by bodyguards riding electric motorbikes. Mr Ruto, Kenya’s president, sees climate diplomacy as a way of burnishing his reputation in the West. But during the summit - the first dedicated to Africa’s response to the warming planet - the motorcades of visiting presidents had a more familiar look. While the politicians talked green inside the venue in Nairobi, Kenya’s capital, outside were rows of petrol-guzzling SUVs.
A gap between symbol and substance is common when it comes to ... Read more ...
|
|
|
|
The choice between a poorer today and a hotter tomorrow - Economist (Jun 27, 2023) |
|
Jun 27, 2023 · Suppose, for a minute, that you are a finance minister in the developing world. At the end of a year in which your tax take has disappointed, you are just about out of money. You could plough what little remains into your health-care system: dollars spent by clinics help control infectious diseases, and there is not much that development experts believe to be a better use of cash. But you could also spend the money constructing an electrical grid that is able to handle a switch to clean energy. In the long run this will mean less pollution, more productive farmland and fewer floods. Which is a wiser use of the marginal dollar: alleviating acute poverty straight away or doing your ... Read more ...
|
|
|
|
Can carbon removal become a trillion-dollar business? - Economist (May 21, 2023) |
|
May 21, 2023 · “TODAY WE SEE the birth of a new species,” declared Julio Friedmann, gazing across the bleak landscape. Along with several hundred grandees, the energy technologist had travelled to Notrees, a remote corner of the Texas oil patch, in late April. He was invited by 1PointFive, an arm of Occidental Petroleum, an American oil firm, and of Carbon Engineering, a Canadian startup backed by Bill Gates. The species in question is in some ways akin to a tree - but not the botanical sort, nowhere to be seen on the barren terrain. Rather, it is an arboreal artifice: the world’s first commercial-scale “direct air capture” (DAC) plant.
Your browser does not support the <audio> ... Read more ...
|
|
|
|
What America does after a debt-ceiling disaster - Economist (May 15, 2023) |
|
May 15, 2023 · America is once again in the throes of a debt-ceiling crisis. If Congress and the White House do not come to a deal, the government may run out of cash, and be on the brink of a sovereign default, in just a few weeks’ time. Most investors expect a last-minute compromise, thereby avoiding financial Armageddon, as during past crises. Yet positions on each side of the aisle look entrenched: Republicans want big spending cuts; Democrats are resisting. So the White House must consider its break-glass options. If there is no agreement, what would President Joe Biden do?
There are two broad kinds of workarounds - one magical, the other messier and neither appealing - that the Biden ... Read more ...
|
|
|
|
The aviation industry wants to be net zero - but not soon - Economist (May 14, 2023) |
|
May 14, 2023 · FLYING IS A dirty business. Airliners account for more than 2% of the annual global emissions from the burning of fossil fuels, many times commercial aviation’s contribution to world GDP. Two forces look poised to push this figure up in the years to come.
First, people love to fly. IATA, the airline industry’s trade body, predicts that 4bn passengers will take to the skies next year, as many as did in 2019, before covid-19 temporarily grounded the sector. Airlines could be hauling around 10bn passengers by mid-century (see chart 1). Boeing, an American planemaker, estimates that this will require the global fleet to roughly double from around 26,000 in 2019 to 47,000 by 2040. ... Read more ...
|
|
|
|
It's time the West committed to Ukraine for the long haul, says Fabrice Pothier - Economist (May 12, 2023) |
|
May 12, 2023 · ITS CAFES may be buzzing, but the mood in Kyiv is downbeat these days. True, Ukrainians have made it through a winter that brought the economy and society to the brink. The Ukrainian army is holding against grinding Russian pressure. Yet the message from some Western leaders, that Ukraine cannot expect much more support after its spring offensive, seems to have sunk in.
Russia’s war against Ukraine is reaching a crucial moment. In the short term, Ukraine is set to launch its much-anticipated counter-attack. In the longer term, Western leaders need to take hard decisions to address the fact that a democratic and sovereign Ukraine is now part of the West’s fundamental security ... Read more ...
|
|
|
|
A new world order seeks to prioritise security and climate change - Economist (May 11, 2023) |
|
May 11, 2023 · After the cold war, America and Europe established an economic order based upon open markets, global trade and limited state meddling in the economy. Climate change was a distant threat. Allowing countries like China or Russia into the global economy was widely seen to be beneficial for both them and their Western trading partners. As the two countries grew they would surely adopt market economics and, ultimately, democracy. Other things mattered. But economic considerations took precedence.
Not anymore. Policymakers on both sides of the Atlantic have come to the conclusion that national security and climate change must now come first. In Brussels talk is of “economic ... Read more ...
|
|
|
|
Are electric vehicles recharging the car industry? - Economist (May 11, 2023) |
|
May 11, 2023 · BUYING A CAR used to be about two things: style and performance. But as motorists trade in their petrol or diesel cars for electric vehicles, manufacturers are increasingly focusing on experience by adding features like karaoke machines and mood lighting. Those drivers also have a lot more choices. The ditching of internal combustion engines in favour of battery-power has allowed new car makers to enter the market. But rather than thinking like BMW or Ford, they are looking to firms like Apple for their inspiration.
On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin examine the remaking of the auto industry. The Economist’s Simon Wright explains that ... Read more ...
|
|
|
|
Britain plays catch-up in a global scramble for critical minerals - Economist (May 11, 2023) |
|
May 11, 2023 · IN CORNWALL’S MINING heyday in the 18th and 19th centuries, copper and tin were hewed from beneath the county’s craggy landscape. Many attempts at revival have failed, but another is under way. In April Cornish Lithium began its latest search for a prized metal of the 21st century, drilling a borehole near the village of Blackwater. Jeremy Wrathall, its founder, expects to be producing lithium by 2026. Another Cornish company, British Lithium, also expects to be in full production by then.
Your browser does not support the <audio> element.
Lithium, which is used to make batteries for electric vehicles (EVs), is classed as a “critical mineral” - economically ... Read more ...
|
|
|
|
“Why must we have an election?” Turkish earthquake survivors wish a plague on every party - Economist (May 09, 2023) |
|
May 09, 2023 · In a rubbish-filled valley overlooked by one of the oldest churches in the world, the air is thick with flies. A thin, muck-clogged stream winds past tents and makeshift shelters, which are huddled against the base of a mountain. There is a smell of rot and human waste. Children play in the dirt outside while their parents sit in the shade, seeking some respite from the rising heat. Here in Antakya, thousands of survivors of the twin earthquakes that struck southern Turkey on February 6th 2023 have been left to fend for themselves.
Just up the hill, their homes lie in ruins. Many houses were crushed by enormous rocks, and many more were rendered uninhabitable. Those that were ... | By Erin O’Brien Read more ...
|
|
|
|
Peter Carlsson on how the global battery race should be run - Economist (May 09, 2023) |
|
May 09, 2023 · ONE OF MY most harrowing, and motivating, meetings of the past few months was with Johan Rockström, a fellow Swede and globally leading researcher of climate impact at the Potsdam Institute. He told me that although we are trying to limit global warming to 1.5°C above pre-industrial levels, today’s projections show a trend towards a 2.8-2.9°C increase. That would mean a very different world from the one we currently live in.
We now have 10-15 years to halve our carbon footprint, and batteries are a key technology to replace the use of coal, oil and natural gas before it’s too late. But it will only work if we expand the industry in a sustainable way - and that’s not happening ... Read more ...
|
|
|
|
“There will be plenty of bowing, lashings of chanting and way too many men in tights” - Britain crowns a king - Economist (May 05, 2023) |
|
May 05, 2023 · HE HAS BEEN king since September; now it is time for the pomp. We examine the modern monarchy - and the ancient frippery of coronations. Despite prior reluctance to do much about climate change, America is set to become a clean-energy superpower. And reflecting on the life of Carolyn Bryant, whose testimony led to a lynching that set off America’s civil-rights movement. Runtime: 29 min
Listen on: Apple Podcasts | Spotify | Google | Stitcher | TuneIn
For full access to print, digital and audio editions of The Economist, try a free 30-day digital subscription by going to www.economist.com/intelligenceoffer
Our podcast on markets, the economy and business. This week, ... Read more ...
|
|
|
|
Ocean-surface temperatures are breaking records - Economist (May 05, 2023) |
|
May 05, 2023 · To read more of The Economist’s data journalism visit our Graphic Detail page.
HUMANS HAVE long used the ocean as a dumping zone. Piles of rubbish have accumulated in the sea and endangered marine life. But apart from plastic, oceans and their inhabitants also bear the brunt of human-made emissions and a warming planet. Oceans have soaked up about 90% of the excess heat caused by greenhouse-gas emissions in recent decades. One symptom of this has been a gradual increase in the temperature of surface waters, and this year’s rise has been particularly alarming. On April 1st, average global sea-surface temperatures reached 21.1°C (70.0°F). The new record is more than half a ... Read more ...
|
|
|
|
The science behind the perfect storm - Economist (May 05, 2023) |
|
May 05, 2023 · Hurricanes are among the most destructive natural phenomena on earth. Their devastating force lies not only in their sheer wind power, but also in the storm surges and extreme rainfall that follow when they make landfall. As global warming transforms the planet’s oceans, Oliver Morton, senior editor at The Economist, explores how hurricanes are affected by rising temperatures and what this means for the coastal communities in their path.
Threats to humanity
The line between public and private wealth can be blurry
What next? Read more ...
|
|
|
|
China needs foreign workers. So why won't it embrace immigration? - Economist (May 04, 2023) |
|
May 04, 2023 · For hundreds of years China could boast of having more people than any other country. The title became official in the 1950s, when the UN began compiling such data. Such a large population conferred on China certain bragging rights. A huge labour supply also helped to boost its annual GDP growth, which has averaged close to 9% over the past three decades.
Your browser does not support the <audio> element.
Last month China’s reign came to an end. India has overtaken it as the world’s most populous country. The demographic trends behind the shift have troubling implications for the new number two. China’s working-age population has been shrinking for a decade (see ... Read more ...
|
|
|
|
Europe will need to fundamentally reset its fiscal policies - Economist (May 04, 2023) |
|
May 04, 2023 · Fiscal rules always have exemptions. The one California passed in 1849 had an exception in case of insurrection. Many resource-rich countries’ rules can be suspended if commodity prices crash. And most guidelines have some kind of out in case of a pandemic. But in Europe exemptions have become so frequent lately that it is not clear how to reinstate the rules at all.
The EU’s member states are arguing with Brussels over how to change the rules before re-applying them. Debt levels and interest rates are far higher than in 2019, when the rules last applied (see chart). But spending needs for security, defence, energy and climate protection have gone only one way. The European ... Read more ...
|
|
|
|
The green revolution will stall without Latin America's lithium - Economist (May 02, 2023) |
|
May 02, 2023 · Over half of the world’s lithium, a metal used in batteries for electric vehicles, can be found in Latin America. The region also has two-fifths of its copper and a quarter of its nickel. Recently delegations from the United States and the European Union have flocked there partly to secure resources that will be needed in the energy transition and to diversify their supply away from China. In March John Kerry, President Joe Biden’s climate tsar, visited the continent. German officials have scheduled at least three high-level meetings in South America this year. Ursula von der Leyen, the president of the European Commission, looks set to visit in the coming months.
But even as ... Read more ...
|
|
|
|
Accounting for flood risk would lower American house prices by $187bn - Economist (Apr 25, 2023) |
|
Apr 25, 2023 · Floods are the most expensive type of natural disaster in America, causing at least $323bn in direct damage since 1960 after accounting for inflation. Unlike other types of risks, private insurers generally do not offer residential coverage for floods.
Your browser does not support the <audio> element.
To fill this void, Congress set up the National Flood Insurance Programme (nfip). Homeowners in “100-year floodplains”, where regulators reckon that the chance of flooding each year is at least 1%, can get government-backed mortgages only if they are insured. But on average, the amount of money that the nfip collects in premiums each year is less than the amount it ... Read more ...
|
|
|
|
“Leave now if you ever will”: running from mortar fire in Sudan - Economist (Apr 22, 2023) |
|
Apr 22, 2023 · The night before street warfare broke out in Khartoum, I was at a cultural centre in the north of the city listening to a panel of feminist speakers. It was the kind of event that would have been unthinkable under Omar al-Bashir, the dictator ousted by a popular uprising four years ago. Under Bashir, Sudan was one of the most oppressive places in the world to be a woman, and it was women who led the protests against him.
The panellists that night talked about strategies for forcing legal reforms (Sudanese courts can still sentence women to be stoned to death for adultery). Afterwards the audience, which contained men as well as women, carried on discussing the issues over tea, ... | By Raga Makawi Read more ...
|
|
|
|
How Japan is losing the global electric-vehicle race - Economist (Apr 16, 2023) |
|
Apr 16, 2023 · The green floors of JATCO’s Fuji Area 2 factory hum with quiet confidence. Diligent inspectors appraise the gears and pulleys that make up the Japanese auto-parts maker’s transmission systems. Robots stamp parts and flip them onto production lines. For decades, JATCO, like the rest of Japan’s vaunted auto industry, has perfected carmaking. Japan has been at the forefront of the industry, pioneering just-in-time manufacturing and leading the development of hybrid cars. But the next big evolution - the shift to electric vehicles (EVs) - has become a source of angst. “The EV shift will be a big transformation, there’s no denying that,” says Sato Tomoyoshi, JATCO’s CEO. “Our company ... Read more ...
|
|
|