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The week in charts – Politics and pandemics | Graphic detail – The Economist

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More market mayhem • Bernie burned in Michigan • Putin’s powerplay • British and Indian startups • Crowded Everest

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All governments will struggle to cope with the spread of covid-19, which was officially declared a pandemic this week by the World Health Organisation. Some will struggle more than others. Our cover leader argues that how well countries will fare depends on three factors. One is their attitude to uncertainty: China, having imposed a brutal quarantine, is already claiming victory, perhaps prematurely; democracies are watching to see whether Italy’s largely self-policed lockdown slows the disease’s advance. Second, universal health systems, such as Britain’s, should find it easier to mobilise resources than fragmented, private ones, such as America’s, that have to worry about who pays what. Third is trust: Iran’s government is widely suspected of covering up deaths and cases. We also examine the anatomy of the virus that causes covid-19 and how it hijacks the cells of those infected. And on our Graphic Detail page we track, using mobile-phone data, how foot traffic has fallen in affected cities. Rome’s central station was 69% less busy than normal at 9am on March 6th—before the official lockdown. (All our coronavirus coverage can be found here.)


Covid-19 created more mayhem in financial markets. The latest turmoil started with oil, after Russia balked at Saudi Arabia’s proposal for production cuts—and the Saudis responded by starting a price war. Other oil producers can expect economic pain. Stockmarkets are down by a fifth from their peak. But the severity of the shock does not so far compare with that of 2007-09. Markets have not fallen as far; the banking system has not yet seized up; and investors have not rushed to the dollar (the usual sign of millenarian panic). But watch out, nonetheless, for stresses in the euro zone and for a temporary corporate cash squeeze. We reckon, from a crude “stress test” of listed companies, that 10-15% of firms could face liquidity problems. Corporate-bond markets are not good at bridging this kind of short but precarious gap.


In any other week, Joe Biden’s 15-point victory over Bernie Sanders in the Democratic presidential primary in Michigan would have merited much more attention. In 2016 Mr Sanders beat Hillary Clinton there, breathing life into a flagging campaign. This time around his mauling by Mr Biden in the Wolverine State means the contest for the nomination in 2020 looks all but over. Mr Biden will probably clock up further wins next week in Arizona, Florida, Illinois and Ohio. (Our guide to America’s 2020 elections can be found here.)


But for the world’s concern with the coronavirus, Vladimir Putin’s latest power grab would surely have taken more headlines, too. A constitutional amendment approved by the Duma on March 10th, resetting the number of terms he can serve, may allow Russia’s president to stay in office until 2036. Other amendments curb the power of parliament and the courts. The changes must be approved by the Constitutional Court (which Mr Putin controls) and the Russian people. The vote—neither an election nor a referendum, and legally questionable—will take place on April 22nd, Lenin’s birthday.


Two stories this week look at vibrant startup scenes in very different economies—Britain and India. Both are far behind America and China in creating unicorns (privately held startups valued at over $1bn) but ahead of France and Germany. Britain’s forte is finance: last month Revolut, an upstart bank, became Europe’s most highly valued fintech startup, with a tag of $5.5bn. Britain’s departure from the European Union casts a cloud. So does competition from big banks. And Britain is yet to produce a giant; America and China have several. India has spawned 80,000 startups, which between them raised $10bn last year, up from $3.1bn in 2012. But their success is hard to gauge: information on realised returns is scant, and valuations are increasingly viewed with suspicion.


The world’s tallest mountain is crowded. Climbers must queue to reach the summit. This week the Nepalese government postponed the introduction of new rules it had proposed to thin out the mob on its side of Mount Everest. (China has called off ascents from its side this year because of coronavirus.) Applicants for Everest permits should, for instance, have had to have climbed another Nepalese peak of at least 6,500 metres; Everest measures 8,848 metres. The authorities are presumably keen to ensure that stricter rules do not shrink revenues. An entire industry in one of Asia’s poorest countries depends on the mountain. Guides can earn $5,000 a season at the highest altitudes, more than seven times the average annual wage.

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Youri Chassin quits CAQ to sit as Independent, second member to leave this month

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Quebec legislature member Youri Chassin has announced he’s leaving the Coalition Avenir Québec government to sit as an Independent.

He announced the decision shortly after writing an open letter criticizing Premier François Legault’s government for abandoning its principles of smaller government.

In the letter published in Le Journal de Montréal and Le Journal de Québec, Chassin accused the party of falling back on what he called the old formula of throwing money at problems instead of looking to do things differently.

Chassin says public services are more fragile than ever, despite rising spending that pushed the province to a record $11-billion deficit projected in the last budget.

He is the second CAQ member to leave the party in a little more than one week, after economy and energy minister Pierre Fitzgibbon announced Sept. 4 he would leave because he lost motivation to do his job.

Chassin says he has no intention of joining another party and will instead sit as an Independent until the end of his term.

He has represented the Saint-Jérôme riding since the CAQ rose to power in 2018, but has not served in cabinet.

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.

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‘I’m not going to listen to you’: Singh responds to Poilievre’s vote challenge

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MONTREAL – NDP Leader Jagmeet Singh says he will not be taking advice from Pierre Poilievre after the Conservative leader challenged him to bring down government.

“I say directly to Pierre Poilievre: I’m not going to listen to you,” said Singh on Wednesday, accusing Poilievre of wanting to take away dental-care coverage from Canadians, among other things.

“I’m not going to listen to your advice. You want to destroy people’s lives, I want to build up a brighter future.”

Earlier in the day, Poilievre challenged Singh to commit to voting non-confidence in the government, saying his party will force a vote in the House of Commons “at the earliest possibly opportunity.”

“I’m asking Jagmeet Singh and the NDP to commit unequivocally before Monday’s byelections: will they vote non-confidence to bring down the costly coalition and trigger a carbon tax election, or will Jagmeet Singh sell out Canadians again?” Poilievre said.

“It’s put up or shut up time for the NDP.”

While Singh rejected the idea he would ever listen to Poilievre, he did not say how the NDP would vote on a non-confidence motion.

“I’ve said on any vote, we’re going to look at the vote and we’ll make our decision. I’m not going to say our decision ahead of time,” he said.

Singh’s top adviser said on Tuesday the NDP leader is not particularly eager to trigger an election, even as the Conservatives challenge him to do just that.

Anne McGrath, Singh’s principal secretary, says there will be more volatility in Parliament and the odds of an early election have risen.

“I don’t think he is anxious to launch one, or chomping at the bit to have one, but it can happen,” she said in an interview.

New Democrat MPs are in a second day of meetings in Montreal as they nail down a plan for how to navigate the minority Parliament this fall.

The caucus retreat comes one week after Singh announced the party has left the supply-and-confidence agreement with the governing Liberals.

It’s also taking place in the very city where New Democrats are hoping to pick up a seat on Monday, when voters go to the polls in Montreal’s LaSalle—Émard—Verdun. A second byelection is being held that day in the Winnipeg riding of Elmwood—Transcona, where the NDP is hoping to hold onto a seat the Conservatives are also vying for.

While New Democrats are seeking to distance themselves from the Liberals, they don’t appear ready to trigger a general election.

Singh signalled on Tuesday that he will have more to say Wednesday about the party’s strategy for the upcoming sitting.

He is hoping to convince Canadians that his party can defeat the federal Conservatives, who have been riding high in the polls over the last year.

Singh has attacked Poilievre as someone who would bring back Harper-style cuts to programs that Canadians rely on, including the national dental-care program that was part of the supply-and-confidence agreement.

The Canadian Press has asked Poilievre’s office whether the Conservative leader intends to keep the program in place, if he forms government after the next election.

With the return of Parliament just days away, the NDP is also keeping in mind how other parties will look to capitalize on the new makeup of the House of Commons.

The Bloc Québécois has already indicated that it’s written up a list of demands for the Liberals in exchange for support on votes.

The next federal election must take place by October 2025 at the latest.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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Social media comments blocked: Montreal mayor says she won’t accept vulgar slurs

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Montreal Mayor Valérie Plante is defending her decision to turn off comments on her social media accounts — with an announcement on social media.

She posted screenshots to X this morning of vulgar names she’s been called on the platform, and says comments on her posts for months have been dominated by insults, to the point that she decided to block them.

Montreal’s Opposition leader and the Canadian Civil Liberties Association have criticized Plante for limiting freedom of expression by restricting comments on her X and Instagram accounts.

They say elected officials who use social media should be willing to hear from constituents on those platforms.

However, Plante says some people may believe there is a fundamental right to call someone offensive names and to normalize violence online, but she disagrees.

Her statement on X is closed to comments.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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