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France’s president, Emmanuel Macron, lost his parliamentary majority in elections to the 577-seat National Assembly. His centrist alliance still emerged as the largest party, but a left-wing alliance became the biggest opposition group, and the far right secured a record-breaking 89 seats, up from eight in the last election.
Josep Borrell, the EU’s foreign policy chief, called Russia’s blockade of Ukrainian grain exports a “war crime”. He called on Russia to end its blockade, saying it is “inconceivable” that people are starving while wheat sits in Ukraine. Meanwhile, Volodymyr Zelensky, Ukraine’s president, said he expected Russia to intensify attacks on his country ahead of an EU decision on whether Ukraine should receive candidate status to join the bloc.
Russia demanded that Lithuania reverse cargo restrictions which have cut off Kaliningrad, a Russian enclave on the Baltic Sea, from the rest of the country. The ban prevents some Russian cargo from moving across Lithuania by train. Lithuania says it is enforcing EU sanctions which came into force on June 17th. Russia called the move “openly hostile” and warned of retaliation.
José Mauro Coelho, the chief executive of Petrobras, the Brazilian state oil company, resigned after just two months in the job. The price of petrol has risen more than 25% since June 2021, and last week Brazil’s president, Jair Bolsonaro, said that prices should not rise further—shortly before the company raised its prices again. Two previous bosses were also forced out after disputes with Mr Bolsonaro.
Security forces across India were put on high alert and several trains were cancelled as protests against a new army-recruitment scheme raged on. Under “Agnipath”, the government plans to hire soldiers on fixed four-year contracts, as a way to reduce the army’s expenditure. Protesters, mostly young men, believe this hurts their chances of securing a permanent military job which provides several other benefits, including a pension.
A court in Japan dismissed a claim that the country’s ban on same-sex marriages was “unconstitutional”. Despite most of the population approving of same-sex marriages or civil unions, Japan is the only country in the G7, a group of big economies, not to allow them. Last week the local government in Tokyo, the capital, passed legislation that gave some partnership rights to same-sex couples.
Low-cost clothing retailer Primark announced a small trial of “click-and-collect” at 25 stores in the north-west of England—the first time the firm has offered any online shopping at all. The Irish firm has shops throughout Europe and in America. Without an online presence, the chain was hit especially hard by shop closures during the pandemic.
Fact of the day: 13%, manufacturing’s share of GDP across the OECD club of mostly rich countries, an all-time low. Read the full article
A vicious circle of inflationary expectations
PHOTO: GETTY IMAGES
Economists expect that the global surge in inflation will soon come to an end. The general public are not so sure. A worldwide measure of people’s inflation expectations over the next year was more than 4% in May, up from 2.3% a year ago. Other measures of inflation expectations seem to be growing, too. The worry is that these beliefs will start feeding into actual economic behaviour—wage demands, say, or pricing decisions—thus feeding the inflationary beast.
Indeed, central banks may have difficulty getting inflation expectations down again. After decades of low and stable inflation, few people pay much attention to what Jerome Powell, Christine Lagarde or Andrew Bailey say, or even know who they are. History offers some lessons. In the 1980s Paul Volcker, chairman of the Federal Reserve, cultivated his image as an anti-inflation nutter. Ronald Reagan and Margaret Thatcher were known for their anti-inflationary zeal. Perhaps it’s time for inflation to be named public enemy number one once again.
China delves deeper into Africa
PHOTO: GETTY IMAGES
Signs that China is tentatively revising its cherished doctrine of “non-interference” can be seen in the Horn of Africa. On Monday a “peace conference” kicks off in Addis Ababa, the capital of Ethiopia, organised by China after its appointment of a special envoy to the region, which is racked by ethnic, territorial and resource-driven conflicts, including a war between Ethiopia’s federal government and the rebellious region of Tigray.
China has said very little about what it wants to achieve, other than to tackle the challenges of “security, development and governance”. Protecting its considerable economic investments in the region is probably its main concern. But China is unlikely to attempt to mediate directly in Ethiopia’s civil war. Rebel groups are not invited. Eritrea—a major source of the region’s instability—is unlikely to attend. In all, it is doubtful the conference will address the root causes of the Horn’s instability.
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The latest cycle of gerrymandering comes to an end
PHOTO: ALAMY
Monday is the deadline for Louisiana to submit a new map of its Congressional districts. A federal judge rejected the state’s previous proposal—passed by the Republican legislature over the veto of the Democratic governor—when it was found to violate the voting-rights act by not including enough black-majority districts. Louisiana is the only state left without a map for the midterm elections in November. Once approved, America’s contentious redistricting cycle will finally end.
After the decennial census in 2020, Democrats and Republicans competed to redraw Congressional boundaries in their favour, a process known as gerrymandering. Courts attempted to block more egregious efforts—sometimes, as in Louisiana, to avoid the marginalisation of racial minorities. In some states, like Ohio, Republicans simply ignored the courts. Across the country as a whole, the partisan balance has remained stable, but the number of competitive districts has dwindled. The Supreme Court may rule next year to expand the ability of states to gerrymander. Voters look set to be stuck with still more extreme candidates.
Sri Lanka seeks help from the IMF
PHOTO: GETTY IMAGES
These days Sri Lanka often looks deserted. The most active people are officials scrambling to emergency meetings. Public transport has ground to a halt. From Monday, schools and state-run offices will be shut for two weeks. Fridays have been declared a public holiday in a bid to conserve fuel. With rolling blackouts and a lack of medicines, the country confronts a humanitarian crisis. Food prices have soared as farmers plough through an acute shortage of fertilisers.
A delegation from the International Monetary Fund arrived in Colombo, the capital, on Monday to discuss a rescue package. On May 22nd Sri Lanka defaulted on its debt for the first time. High energy prices and the covid-19 pandemic contributed to the worst economic crisis in seven decades, but so too did the country’s own economic mismanagement. Last week the central-bank governor admitted that the government could have gone to the IMF sooner. Better late than never.
Nobel prize auction for Ukraine
PHOTO: EYEVINE
After Russia invaded Finland in 1939, Niels Bohr, a Danish physicist, donated his Nobel-prize medal to aid Finnish civilians. More than 80 years later, he has inspired another laureate to follow suit. On Monday, a Russian journalist and last year’s peace-prize winner, Dmitry Muratov, will auction his 23-karat gold token to help Ukrainian refugees. The starting price is $550,000, but higher bids are expected. Another medal belonging to Francis Crick, a molecular biologist, fetched $2.3m in 2013.
Mr Muratov has already done much to shine light on his country’s government. His independent newspaper Novaya Gazeta has for decades investigated corruption and human-rights abuses in Russia. Founded on a small budget in 1993, the publication was boosted with the last Soviet president Mikhail Gorbachev’s own Nobel-prize money. Six of its journalists have been murdered since 2000. It kept going—until March, when it suspended operations as the Kremlin muffled media critical of its war.
Daily quiz
Our baristas will serve you a new question each day this week. On Friday your challenge is to give us all five answers and, as important, tell us the connecting theme. Email your responses (and include mention of your home city and country) by 1700 BST on Friday to QuizEspresso@economist.com. We’ll pick randomly from those with the right answers and crown one winner per continent on Saturday.
Monday: Which performer in the Star Wars movies was the daughter of Debbie Reynolds, an actress and singer?
Vote for the man who promises least; he’ll be the least disappointing
Bernard Baruch
法国总统埃马纽埃尔-马克龙在拥有577个席位的国民议会的选举中失去了议会多数。他的中间派联盟仍然成为最大的政党,但一个左翼联盟成为最大的反对派团体,而极右派获得了破纪录的89个席位,比上次选举的8个席位有所增加。
欧盟外交政策负责人Josep Borrell称俄罗斯对乌克兰粮食出口的封锁是 "战争罪"。他呼吁俄罗斯结束封锁,并表示,当小麦在乌克兰滞留时,人们正在挨饿,这是 "不可想象的"。与此同时,乌克兰总统沃洛迪米尔-泽伦斯基说,他预计在欧盟就乌克兰是否应获得加入欧盟的候选国地位作出决定之前,俄罗斯将加强对他的国家的攻击。
俄罗斯要求立陶宛撤销对货物的限制,这些限制将波罗的海上的俄罗斯飞地加里宁格勒与该国其他地区隔开。该禁令使一些俄罗斯货物无法通过火车运过立陶宛。立陶宛表示,它正在执行6月17日生效的欧盟制裁。俄罗斯称此举是 "公开的敌对行为",并警告说要进行报复。
巴西国家石油公司(Petrobras)的首席执行官José Mauro Coelho在上任仅两个月后辞职。自2021年6月以来,汽油价格已经上涨了25%以上,上周巴西总统Jair Bolsonaro表示,价格不应进一步上涨--在该公司再次提价之前不久。在与博尔索纳罗先生发生争执后,前两任老板也被迫离职。
由于对一项新的军队招募计划的抗议活动愈演愈烈,印度各地的安全部队进入了高度戒备状态,几列火车被取消了。根据 "Agnipath "计划,政府计划以固定的四年合同雇用士兵,以此来减少军队的开支。抗议者大多是年轻男子,他们认为这损害了他们获得永久军职的机会,因为永久军职还提供其他一些福利,包括退休金。
日本一家法院驳回了关于该国禁止同性婚姻是 "违宪 "的主张。尽管大多数人赞同同性婚姻或民事结合,但日本是七国集团(一个大经济体)中唯一不允许同性婚姻的国家。上周,首都东京的地方政府通过立法,给予同性伴侣一些伴侣关系的权利。
低成本服装零售商Primark宣布在英格兰西北部的25家门店进行 "点击取货 "的小规模试验--这是该公司首次提供任何网上购物。这家爱尔兰公司在欧洲和美国都有商店。由于没有在线业务,该连锁店在大流行期间受到了店铺关闭的严重打击。
今天的事实。13%,制造业在整个经合组织俱乐部(主要是富裕国家)的GDP中的份额,这是一个历史最低点。阅读全文
通胀预期的恶性循环
照片。GETTY IMAGES
经济学家预计,全球通货膨胀的激增将很快结束。普通民众却不那么肯定。5月份,世界范围内人们对未来一年的通胀预期的衡量标准超过了4%,高于一年前的2.3%。其他衡量通胀预期的指标似乎也在增长。令人担忧的是,这些信念将开始影响到实际的经济行为--比如说工资需求或定价决策--从而助长通胀之风。
事实上,中央银行可能很难再次降低通胀预期。在经历了几十年的低迷和稳定的通货膨胀之后,很少有人会关注杰罗姆-鲍威尔、克里斯蒂娜-拉加德或安德鲁-贝利所说的话,甚至不知道他们是谁。历史提供了一些教训。在20世纪80年代,美联储主席保罗-沃尔克(Paul Volcker)将自己的形象培养成一个反通胀的疯子。罗纳德-里根和玛格丽特-撒切尔以其反通货膨胀的热情而闻名。也许现在是时候让通货膨胀再次被列为头号公敌了。
中国更深入地进入非洲
照片。GETTY IMAGES
在非洲之角可以看到中国正在初步修改其珍视的 "不干涉 "理论的迹象。周一,中国在埃塞俄比亚首都亚的斯亚贝巴组织了一次 "和平会议",此前中国任命了一名特使前往该地区,该地区饱受种族、领土和资源冲突之苦,包括埃塞俄比亚联邦政府与叛乱的提格雷地区之间的战争。
除了应对 "安全、发展和治理 "的挑战外,中国对其希望实现的目标说得很少。保护其在该地区的大量经济投资可能是其主要关切。但中国不太可能试图直接调停埃塞俄比亚的内战。叛乱团体没有被邀请。厄立特里亚--该地区不稳定的主要根源--不太可能参加。总而言之,会议能否解决非洲之角不稳定的根源令人怀疑。
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最新一轮的选区划分即将结束
照片。阿拉米
周一是路易斯安那州提交其国会选区新地图的最后期限。一名联邦法官驳回了该州先前的提案--该提案由共和党立法机构在民主党州长的否决下通过--因为它没有包括足够多的黑人占多数的选区而违反了选举权法案。路易斯安那州是唯一没有为11月的中期选举制定地图的州。一旦获得批准,美国有争议的选区重新划分周期将最终结束。
在2020年十年一次的人口普查之后,民主党和共和党竞相重新划定对他们有利的国会选区,这一过程被称为划分选区。法院试图阻止更恶劣的努力--有时,如在路易斯安那州,以避免少数种族被边缘化。在一些州,如俄亥俄州,共和党人根本无视法院。在全国范围内,党派平衡保持稳定,但有竞争力的地区的数量却在减少。最高法院明年可能会做出裁决,扩大各州划分选区的能力。选民们看来会被更多的极端候选人所困扰。
斯里兰卡寻求国际货币基金组织的帮助
照片。GETTY IMAGES
这些天来,斯里兰卡常常显得很冷清。最活跃的人是争相参加紧急会议的官员。公共交通已经停顿下来。从周一开始,学校和国营办公室将关闭两周。为了节约燃料,周五被宣布为公共假期。随着不断的停电和药品的缺乏,这个国家面临着一场人道主义危机。由于农民要克服化肥的严重短缺,食品价格飙升。
国际货币基金组织的一个代表团于周一抵达首都科伦坡,讨论救援方案。5月22日,斯里兰卡首次出现了债务违约。高昂的能源价格和covid-19大流行病促成了七十年来最严重的经济危机,但该国自身的经济管理不善也是如此。上周,中央银行行长承认,政府本可以更早地去找IMF。迟到总比不到好。
乌克兰的诺贝尔奖拍卖
照片。埃耶温
1939年俄罗斯入侵芬兰后,丹麦物理学家尼尔斯-玻尔(Niels Bohr)捐赠了他的诺贝尔奖章以援助芬兰平民。80多年后,他激励另一位获奖者效仿。周一,一位俄罗斯记者和去年的和平奖得主德米特里-穆拉托夫将拍卖他的23K金令牌以帮助乌克兰难民。起拍价为550,000美元,但预计会有更高的出价。另一枚属于分子生物学家弗朗西斯-克里克的奖章在2013年拍出了230万美元。
穆拉托夫先生已经做了很多工作来揭露其国家的政府。他的独立报纸Novaya Gazeta几十年来一直在调查俄罗斯的腐败和侵犯人权行为。该报于1993年以小额预算成立,并得到了最后一任苏联总统戈尔巴乔夫自己的诺贝尔奖资金的支持。自2000年以来,它的六名记者被谋杀。它一直在坚持,直到3月,由于克里姆林宫压制批评其战争的媒体,它暂停了业务。
每日小测验
本周,我们的咖啡师将每天为您提供一个新问题。周五,你的挑战是给我们所有的五个答案,同样重要的是,告诉我们连接的主题。在北京时间周五17点前,将你的回答(包括提及你的家乡和国家)发到 QuizEspresso@economist.com。我们将从那些有正确答案的人中随机挑选,并在周六为每个大洲选出一名获胜者。
周一。星球大战》电影中的哪位表演者是女演员兼歌手黛比-雷诺兹的女儿?
投给承诺最少的人;他将是最不令人失望的人
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