8 The EconomistDecember 21st 2019
1The world this year
An attempt to amend Hong
Kong’sextradition law
triggered the worst crisis in the
city since its handover to
Chinain 1997. Amid concerns
that the changes could result in
dissident Hong Kongers facing
trial in mainland China,
millions took to the streets in
what morphed into an ongoing
pro-democracy movement, the
biggest challenge to the
authority of China’s leaders
since the handover. The gov-
ernment in Beijing, which in
October staged huge celebra-
tions to mark 70 years of
communist rule, has warned
the protesters not to push it.I wear the chain I forged in life
Protests against autocratic rule
also broke out in other coun-
tries, leading to the ouster of
Omar al-Bashir in Sudanand
the resignation of Evo Morales
in Boliviaafter a contentious
election there. Mass demon-
strations caused Ecuador’s
government to reinstate fuel
subsidies and Chile’spresi-
dent to promise a new consti-
tution. Algeria’soctogenarian
leader, Abdelaziz Bouteflika,
called it a day in the face of
huge protests. Iraq’sprime
minister, Adel Abdul-Mahdi,
did the same. But there was no
sign of Iran’smullahs loos-
ening their grip in response to
people power. A crackdown on
protests there left as many as
450 people dead.The trade warbetween Ameri-
ca and China rumbled on,
deploying arsenals of tariffs. In
December both sides pulled
back from the brink by reach-
ing a “phase one” agreementthat stopped America from
imposing more penalties. The
imfreckoned the trade dispute
could cost the global economy
$700bn. America restricted its
companies from selling tech-
nology to Huawei, a Chinese
maker of telecoms equipment.Warnings about a slowing
world economy were a consid-
eration for the Federal Reserve
when it decided to cut interest
ratesfor the first time since the
financial crisis. Two more
reductions followed. Mr
Trump quarrelled openly with
the Fed for not cutting sooner,
calling it a “stubborn child”.The European Central Bank
launched a new round of stim-
ulus, much to the chagrin of
the German finance minister.
It was one of Mario Draghi’s
last acts as ecbpresident be-
fore handing over to Christine
Lagarde, who is launching only
the second strategic review of
monetary policy at the ecb.
Jean-Claude Juncker, thebogeyman of British Brexi-
teers, retired as president of
the European Commission
and was replaced by Ursula von
der Leyen, who was the lon-
gest-serving member of Angela
Merkel’s cabinet in Germany.A horrified world watched on
tvas a fire destroyed the roof
and some of the interior of
Notre Dame cathedralin
Paris. A vigorous debate en-
sued about the extensive refur-
bishment works. The general
overseeing the rebuilding told
the chief architect to “shut his
mouth” for resisting a modern-
ist plan to replace the spire.