PEFCcertified
ThiscopyofTheEconomist
is printedonpapersourced
fromsustainablymanaged
forestscertifiedtoPEFC
PEFC/29-31-58 http://www.pefc.org
Please
Subscriptionservice
Forourfullrangeofsubscriptionoffers,including
digitalonlyorprintanddigitalbundled,visit:
Economist.com/offers
If youareexperiencingproblemswhentryingto
subscribe,pleasevisitourHelppagesat:
http://www.economist.com/helpfortroubleshooting
advice.
PublishedsinceSeptember 1843
totakepartin“aseverecontestbetween
intelligence,whichpressesforward,
andanunworthy,timidignorance
obstructingourprogress.”
EditorialofficesinLondonandalso:
Amsterdam,Beijing,Berlin,Brussels,Cairo,
Chicago,Johannesburg,Madrid,MexicoCity,
Moscow,Mumbai,NewDelhi,NewYork,Paris,
SanFrancisco,SãoPaulo,Seoul,Shanghai,
Singapore,Tokyo,WashingtonDC
ThebestwaytocontactourCustomerService
teamis viaphoneorlivechat.Youcancontactus
onthebelownumbers;pleasecheckourwebsite
foruptodateopeninghours.
NorthAmerica: +1 8004566086
LatinAmerica& Mexico: +1 6364495702
© 2020 The Economist Newspaper Limited. All rights reserved. Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying,
recording or otherwise, without the prior permission of The Economist Newspaper Limited. The Economist(ISSN 0013-0613) is published every week, except for a year-end double issue, by The Economist Newspaper Limited, 750 3rd
Avenue, 5th Floor, New York, N Y 10017. The Economist is a registered trademark of The Economist Newspaper Limited. Periodicals postage paid at New York, NYand additional mailing offices. Postmaster: Send address changes to The
Economist, P.O. Box 46978, St. Louis , MO. 63146-6978, USA. Canada Post publications mail (Canadian distribution) sales agreement no. 40012331. Return undeliverable Canadian addresses to The Economist, PO Box 7258 STN A, Toronto,
ON M5W 1X9. GST R123236267. Printed by Quad/Graphics, Saratoga Springs, NY 12866
4 Contents The EconomistAugust 22nd 2020
Volume 436 Number 9208
Europe
42 The Belarus uprising
43 Italy’s ebbing populism
43 Navalny in peril
44 Depopulating the Balkans
45 CharlemagneThe threat
toSchengen
Britain
46 Unemployment looms
47 Gyms and bodies
48 BagehotRule by algorithm
International
49 The eastern
Mediterranean
Business
52 Return of the tech IPO
53 Apple’s Epic dust-up
54 Electric hypercars
54 Hounding Huawei
55 China’s streaming wars
55 Unions’ weekend plans
56 Schumpeter Xinjiang
dilemmas
Economics brief
57 Inflation
Finance & economics
59 Dubai’s financial centre
62 The economics of masks
62 Monetary policy in China
63 Buttonwood
Bubble-hunting
64 Free exchangeFiscal
federalism
Science & technology
65 When covid-19 becomes
chronic
Books & arts
67 Albert Murray’s wisdom
68 JohnsonLanguage in the
border zone
69 Colombia’s great river
70 Home Entertainment
Italo Calvino’s visions
70 A novelofsisterhood
Economic & financial indicators
72 Statisticson 42 economies
Graphic detail
73 Supportforauthoritarianismisgrowinginweakdemocracies
Obituary
74 Julian Bream, an English master of the classical guitar