2022.06.18 全球股市遭遇了两年多来最大的周跌幅

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Global stockmarkets suffered their biggest weekly fall in more than two years. The FTSE All-World index fell by 5.6% after a series of interest-rate increases by central banks threatened economic slowdown. America’s Federal Reserve said its commitment to fight inflation is “unconditional”.

Russian forces appear to have renewed their advance south of Izyum, a city in eastern Ukraine, seeking to penetrate deeper into the Donetsk region, according to Britain’s defence ministry. Meanwhile, the governor of Luhansk, the other half of Ukraine’s embattled Donbas region, said shelling continued in the city of Severodonetsk, with 568 civilians trapped in the Azot chemical plant.

The Supreme Court of Iowa ruled that the state’s constitution does not guarantee a “fundamental right” to abortion. In a 5-2 ruling, the court upheld a law requiring a woman to wait 24 hours after an initial appointment for an abortion. A lower court had blocked that law. The new ruling comes ahead of a forthcoming decision by the nation’s Supreme Court on Roe v Wade, which could allow states to restrict access to abortion.

Bitcoin fell below the $20,000 threshold for the first time since November 2020 amid monetary tightening by central banks. The decline in value of the largest cryptocurrency, which serves as a reference point for other digital assets, erased years of gains for its owners and sparked worries that it could force liquidations of leveraged bets, prompting further sell-offs.

In a speech at the St Petersburg International Economic Forum, Russia’s president, Vladimir Putin, declared that “the era of the unipolar world” has ended. He said that America and its allies were living “under their own delusions”, and blamed the West for rising food prices. He later said Russia had “nothing against” Ukraine joining the EU. The European Commission this week endorsed its candidacy.

Boris Johnson, Britain's prime minister, said his country would oversee a big training programme for Ukrainian armed forces fighting Russian troops in Ukraine. On his second visit to Kyiv since the war began four months ago, Mr Johnson said the proposed scheme could involve training up to 10,000 soldiers every four months. It had the potential to “change the equation” of the war, he added.

Police in Brazil identified the remains of one of the two bodies found in the Amazon as those of Dom Phillips, a British journalist. The second body is believed to be that of Bruno Pereira, an indigenous expert. The pair had disappeared in the remote Javari Valley, after Mr Pereira received death threats for campaigning against illegal fishing. A fisherman has confessed to murdering them, but police said they thought more people were involved.

Word of the week: Chivo, the name of El Salvador’s digital wallet (meaning “cool”), part of a scheme thrown into chaos by the falling price of cryptocurrencies. Read the full article.


The pitiful state of mental health

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The World Health Organisation’s report into global mental health, published on Friday, was the largest such review in 20 years. It paints a grim picture of unmet global need. For decades, mental health has been one of the most overlooked areas of public health. Yet in 2019 nearly 1bn people were living with a mental-health disorder, the WHO estimates. Anxiety and depression are the most common afflictions.

Thanks to the pandemic, this picture has undoubtedly worsened since the report was drawn up. In the first year of covid-19, cases of depression and anxiety increased by more than 25%. The current economic downturn, social polarisation and the climate crisis threaten to make matters worse. What is striking, though unsurprising, is the poor availability of care for those who are unwell. About 71% of those with psychosis have no access to any mental-health services. Globally, the availability of doctors and drugs is poor and “most people with diagnosed mental health conditions go completely untreated”. Things evidently need to change, fast. Business as usual, the WHO says, “simply will not do”.

Why China’s shoppers want fridges

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The “618” shopping festival, which reaches a climax this weekend, is providing an early test of Chinese consumer sentiment as shoppers in Shanghai and elsewhere emerge from prolonged lockdowns. Last year sales from China’s e-commerce giants reached an estimated 578.4bn yuan ($85.9bn) during the festival, which celebrates the anniversary of JD.com, one such behemoth. JD started selling things online after a previous epidemic—SARS in 2003-04—kept customers off the streets.

E-tailing has fared better than the offline kind during China’s recent Omicron outbreak, too. Online sales of goods grew by 7% (in nominal terms) in May, compared with a year earlier, even as retail sales overall fell by 6.7%. Analysts expect refrigerators and freezers to do well during this year’s jamboree: people want to stockpile food in case of future lockdowns. There also seems to be strong interest in camping equipment. There is nothing like being confined inside to enhance the appeal of the big outdoors.

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Rethinking Shakespeare, for all

PHOTO: THE PUBLIC THEATER
Shakespeare in the Park began as a scrappy experiment by a Jewish communist, Joseph Papp, who thought the bard should be available to all. Now a New York institution, the annual festival continues to stage acclaimed productions beneath the stars in Central Park—for anyone willing to stand in a queue from dawn, that is. On Saturday, it celebrates its 60th anniversary.

The celebrations kick off in earnest on Tuesday with a production of “Richard III”, starring Danai Gurira, of “Black Panther” fame, as the charismatic, hubristic antihero. At a time when classical theatre companies around the world are diversifying their casts, the decision to have a black woman portray a white tyrant feels au courant. Yet Papp explored non-traditional casting as early as the 1950s, guided by his belief in democratic, inclusive theatre. New Yorkers watching this summer’s first show—which, in a world of strongmen, feels especially timely in its depiction of a manipulative, deceitful, power-mad leader—will be grateful his vision endures.

A German art show full of surprises

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Documenta, the contemporary-art show in the German city of Kassel that launched artists such as Ai Weiwei onto the world scene, opens on Saturday. The 15th edition of the five-yearly exhibition is hoping to defy conventions. It will be curated not by a single artistic visionary, but by an artists’ co-operative. A group from Indonesia, ruangrupa, has directed it around the idea of lumbung (meaning communal rice barn), which embodies collectivity and shared resources. Their ever-growing guest list reached a record 1,500 artists.

Yet even before its opening, Documenta has attracted unsolicited buzz. Its artistic directors have been at the centre of a media storm, after invited pro-Palestinian groups were accused of antisemitism. A budget scandal also overshadowed the show’s last iteration, in 2017. The collective’s members say their aim is for even the show’s artistic team to be “surprised at what happens”. That could cut both ways.


Weekend profile: Pierre Poilievre, Canada’s populist politician

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At the start of this year Canada was the scene of unaccustomed excitement. Truckers opposed to a vaccine mandate parked their rigs in the centre of Ottawa, the country’s capital, and blocked one of the main bridges to America. Among their loudest supporters was Pierre Poilievre, a Conservative MP. Police eventually broke up the “freedom convoy”, but its message is still being spread by Mr Poilievre, now the country’s most talked-about politician—and the front-runner to become the leader of the opposition Conservative Party.

Like populists everywhere Mr Poilievre fulminates against elites, in his case the sort of people who hobnob in Davos; the central-bank governor, whom he holds partly responsible for inflation; “gatekeepers”, who make housing unaffordable; and, of course, Prime Minister Justin Trudeau, the son of another prime minister. Mr Poilievre has Donald Trump’s knack of talking about himself while still making audiences feel he is talking about them.

But Canada is not America, and Mr Poilievre is not Mr Trump. In Canada most voters are not as angry as the protesting truckers and national elections are won or lost in the multi-ethnic suburbs of Toronto. So Mr Poilievre chooses his targets carefully. He can safely lambast the CBC, Canada’s public broadcaster. But immigrants are off limits.

Thus Mr Poilievre’s core beliefs seem closer to the small-state ideology of Ronald Reagan than to Mr Trump’s incontinent chauvinism. Adopted by schoolteachers in Saskatchewan, Mr Poilievre grew up believing that “the greatest social safety-net we can ever have” is “voluntary generosity among family and community”.

He seems to have long had aims of high office; in high school he wrote to a newspaper denouncing Canada’s Liberal government for raising pension contributions. He is inching closer to that goal. After a barnstorming tour this spring, membership of the Conservative Party supposedly more than doubled to around 600,000, a record for a Canadian political party. Mr Poilievre’s campaign claims to have signed up more than half of those (his rivals in the party dispute that).

His first opportunity to become prime minister is likely to be in an election due in 2025. But first he faces a leadership election in September, where he must convince Conservatives that his calibrated version of populism has a chance in Canada.

Weekly crossword

Welcome to our new crossword, designed for experienced cruciverbalists and newcomers alike. Both sets of clues give the same answers, all of which feature in articles in this week’s edition of The Economist:

Factual clues

1 down The fibre from which globalisation is woven (6,5)

1 across Leads a government yet to unveil a promised new China strategy (6)

2 across This goes up when prices go down (5)

3 across A country where nearly half of new homes are factory-made (6)

Cryptic clues

1 down Any chip, plus manufacturing goods needed for a finished product (6, 5)

1 across Leading SPD character hates opulence, loves zeal (6)

2 across Idly echo, ignominiously surrender (5)

3 across In Europe, but not with a young leader (6)

Email all four answers by 9am BST on Monday to crossword@economist.com, along with your home city and country. We will pick randomly from those with the right answers and crown one winner per continent in Friday's edition.


The winners of this week’s quiz

Thank you to everyone who took part in this week’s quiz. The winners, chosen at random from each continent, were:

Asia: Chris Williams, Phnom Penh, Cambodia

North America: Jane Gose, Kihei, United States

Central and South America: Gines Sánchez, Panama City, Panama

Europe: Alastair Brockie, Sterling, Scotland

Africa: Hasit Raja, Nairobi, Kenya

Oceania: Inge Nusselder, Cust, New Zealand

They all gave the correct answers of Ronald Reagan, Indira Gandhi, John Lennon, Louis Armstrong and Charles de Gaulle. The theme is they have all had airports named after them: Washington, New Delhi, Liverpool, New Orleans and Paris.



全球股市遭遇了两年多来最大的周跌幅。在各国央行的一系列加息威胁到经济放缓后，富时全球指数下跌了5.6%。美国联邦储备委员会表示，其对抗通货膨胀的承诺是 "无条件的"。

据英国国防部称，俄罗斯军队似乎重新在乌克兰东部城市Izyum以南推进，寻求深入顿涅茨克地区。与此同时，乌克兰陷入困境的顿巴斯地区的另一半--卢甘斯克的州长说，塞维罗多涅茨克市的炮击仍在继续，有568名平民被困在阿佐特化工厂。

爱荷华州最高法院裁定，该州的宪法不保证堕胎的 "基本权利"。在一项5比2的裁决中，法院维持了一项要求妇女在初次预约堕胎后等待24小时的法律。下级法院曾阻止了这项法律。新的裁决是在国家最高法院即将对罗伊诉韦德案作出裁决之前作出的，该裁决可能允许各州限制堕胎的机会。

在各国央行的货币紧缩政策下，比特币自2020年11月以来首次跌破20,000美元的门槛。作为其他数字资产参考点的最大加密货币的价值下降，抹去了其所有者多年的收益，并引发了人们的担忧，即它可能会迫使杠杆赌注清算，促使进一步抛售。

俄罗斯总统普京在圣彼得堡国际经济论坛上发表讲话，宣布 "单极世界的时代 "已经结束。他说，美国及其盟友生活在 "他们自己的妄想之下"，并将食品价格上涨归咎于西方。他后来说，俄罗斯 "不反对 "乌克兰加入欧盟。欧盟委员会本周认可其候选资格。

英国首相鲍里斯-约翰逊(Boris Johnson)表示，英国将监督一项针对乌克兰武装部队与乌克兰境内的俄罗斯军队作战的大型培训计划。约翰逊先生在四个月前战争开始后第二次访问基辅时说，拟议的计划可能涉及每四个月培训多达10,000名士兵。他补充说，这有可能 "改变战争的方程式"。

巴西警方确认，在亚马逊发现的两具尸体中，有一具是英国记者唐-菲利普斯的遗体。第二具尸体被认为是土著专家布鲁诺-佩雷拉的。在佩雷拉先生因反对非法捕鱼而收到死亡威胁后，这两人在偏远的贾瓦里山谷失踪。一名渔民已承认谋杀了他们，但警方说他们认为有更多人参与其中。

本周要闻。Chivo，萨尔瓦多数字钱包的名称（意为 "酷"），是因加密货币价格下跌而陷入混乱的计划的一部分。阅读全文。


可悲的心理健康状况

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世界卫生组织周五发布的全球心理健康报告是20年来规模最大的一次审查。它描绘了一幅全球需求未得到满足的黯淡画面。几十年来，心理健康一直是公共卫生中最被忽视的领域之一。然而，据世卫组织估计，2019年有近10亿人生活在精神健康障碍中。焦虑和抑郁症是最常见的疾病。

由于这一大流行病，自报告起草以来，这种情况无疑已经恶化。在covid-19的第一年，抑郁症和焦虑症的病例增加了25%以上。目前的经济衰退、社会两极化和气候危机有可能使情况变得更糟。令人震惊的是，虽然不令人惊讶，但那些身体不适的人可获得的护理却很差。大约71%的精神病患者无法获得任何精神健康服务。在全球范围内，医生和药物的可用性很差，"大多数被诊断为精神健康状况的人完全没有得到治疗"。显然，情况需要迅速改变。世卫组织说，一切照旧，"根本做不到"。

为什么中国的购物者需要冰箱

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本周末达到高潮的 "618 "购物节是对中国消费者情绪的一次早期测试，因为上海和其他地方的购物者已经从长期的封锁中走出来。去年，中国的电子商务巨头在购物节期间的销售额估计达到了5784亿元（859亿美元），这也是为了庆祝JD.com（其中一个巨头）的周年庆。在2003年至2004年的一次流行病--SARS--使顾客无法上街后，京东开始在网上销售东西。

在中国最近爆发的Omicron疫情中，网络零售的表现也比线下的好。5月份，网上商品销售比去年同期增长了7%（按名义价值计算），尽管零售业整体下降了6.7%。分析师预计冰箱和冰柜在今年的狂欢节期间会有很好的表现：人们想囤积食物以备将来锁仓。人们对野营设备似乎也有浓厚的兴趣。没有什么比被限制在室内更能增强大户外的吸引力了。

在您的收件箱中获得简报
每周六次在早餐前送达。

报名
重新思考莎士比亚，为所有人服务

照片。公共剧院
公园里的莎士比亚 "始于一个犹太共产主义者约瑟夫-帕普（Joseph Papp）的一个小实验，他认为应该让所有人都能欣赏到吟游诗人。现在，这个年度戏剧节已成为纽约的一个机构，继续在中央公园的星空下上演广受好评的剧目--任何愿意从黎明开始排队的人。上周六，它将庆祝其60周年。

庆祝活动于周二以《理查三世》的演出拉开帷幕，由《黑豹》中的达奈-古里拉（Danai Gurira）饰演这位魅力十足、狂妄自大的反英雄。在世界各地的古典戏剧公司正在使他们的演员多样化的时候，让一个黑人妇女扮演一个白人暴君的决定让人感觉很时髦。然而，帕普早在20世纪50年代就探索了非传统的选角方式，并以他对民主、包容的戏剧的信念为指导。纽约人在观看今年夏天的首场演出时--在一个强人辈出的世界里，它对一个操纵、欺骗、权力狂的领导人的描写感觉特别及时--将感谢他的愿景得以延续。

一个充满惊喜的德国艺术展

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卡塞尔文献展，这个在德国城市卡塞尔举行的当代艺术展，将艾未未等艺术家推向了世界舞台，于周六开幕。第15届五年一度的展览希望能打破常规。它将不是由一个单一的艺术设想家来策划，而是由一个艺术家合作社来策划。一个来自印度尼西亚的团体ruangrupa，围绕着lumbung（意为公共米仓）的概念指导展览，它体现了集体性和共享资源。他们不断增加的客人名单达到了1500名艺术家的记录。

然而，即使在开幕之前，文献展就已经吸引了不请自来的喧嚣。在被邀请的亲巴勒斯坦团体被指责为反犹太主义之后，其艺术总监一直处于媒体风暴的中心。预算丑闻也为该展览在2017年的最后一次迭代蒙上了阴影。该团体的成员说，他们的目标是让节目的艺术团队也能 "对发生的事情感到惊讶"。这可能是双向的。


周末简介。皮埃尔-波利耶夫，加拿大的民粹主义政治家

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今年年初，加拿大出现了不常见的激动场面。反对疫苗授权的卡车司机将他们的卡车停在该国首都渥太华的中心，并封锁了通往美国的主要桥梁之一。保守党议员皮埃尔-波利耶夫是他们最响亮的支持者。警察最终驱散了 "自由车队"，但波里耶夫先生仍在传播其信息，他现在是该国最受关注的政治家--成为反对党保守党领导人的领跑者。

像各地的民粹主义者一样，Poilievre先生大肆抨击精英，在他看来，精英就是在达沃斯混日子的人；中央银行行长，他认为他应对通货膨胀负部分责任；"守门人"，他们让人买不起房；当然，还有总理贾斯汀-特鲁多，另一位总理的儿子。波利耶夫先生有唐纳德-特朗普的诀窍，他在谈论自己的同时，还能让听众觉得他在谈论他们。

但加拿大不是美国，波里耶夫先生也不是特朗普先生。在加拿大，大多数选民并不像抗议的卡车司机那样愤怒，全国性的选举是在多伦多的多民族郊区赢得或失去。因此，Poilievre先生谨慎地选择了他的目标。他可以放心地抨击加拿大的公共广播公司(CBC)。但移民则是禁区。

因此，Poilievre先生的核心信念似乎更接近罗纳德-里根的小国意识形态，而不是特朗普先生的失禁沙文主义。被萨斯喀彻温省的教师收养后，Poilievre先生从小就相信，"我们可能拥有的最大的社会安全网 "是 "家庭和社区之间自愿的慷慨"。

他似乎早就有了担任高官的目标；在高中时，他曾写信给一家报纸，谴责加拿大自由党政府提高养老金缴款。他正一步步接近这个目标。在今年春天的巡回演讲之后，保守党的党员人数据说增加了一倍多，达到约60万人，创下了加拿大政党的记录。波利耶夫先生的竞选活动声称已经签下了其中一半以上的成员（他在党内的竞争对手对此提出异议）。

他成为总理的第一个机会可能是在2025年举行的选举中。但他首先面临的是9月份的领导权选举，他必须说服保守党人相信他经过调整的民粹主义版本在加拿大有机会。

每周字谜

欢迎来到我们的新填字游戏，该游戏是为有经验的十字架爱好者和新来者设计的。两组线索都给出了相同的答案，这些答案都在本周的《经济学人》杂志的文章中出现。

事实性线索

1下 全球化是由纤维织成的(6,5)

1下 领导一个尚未公布承诺的新中国战略的政府 (6)

2横 当价格下降时，这就上升了 (5)

3 across 一个国家，近一半的新房是工厂制造的 (6)

隐秘的线索

1下 任何芯片，加上成品所需的制造品 (6, 5)

1横社民党的领导人物讨厌富贵，喜欢热心（6）

2横 怠于呼应，无耻投降 (5)

3跨 在欧洲，但没有一个年轻的领导人 (6)

请在北京时间周一上午9点前将所有四个答案发到邮箱：crossword@economist.com，同时附上你的家乡和国家。我们将从有正确答案的人中随机挑选，并在周五的版本中为每个大洲的获胜者颁奖。


本周测验的获胜者

感谢所有参加本周测验的人。从各大洲随机选出的获奖者是。

亚洲。克里斯-威廉姆斯，柬埔寨金边市

北美洲。简-高斯，美国，基黑

中美洲和南美洲。Gines Sánchez, 巴拿马，巴拿马城

欧洲。阿拉斯泰尔-布罗基，苏格兰，斯特林

非洲：Hasit Raja，肯尼亚，内罗毕

大洋洲：Inge Nusselder, Cust, New Zealand

他们都给出了正确的答案：罗纳德-里根、英迪拉-甘地、约翰-列侬、路易斯-阿姆斯特朗和戴高乐。主题是他们都有以他们名字命名的机场。华盛顿、新德里、利物浦、新奥尔良和巴黎。