TheEconomist

Trump and Ukraine-the backstory

India's tottering banks

Where are ali the self-driving cars?

Fake moos: the rise of plant-based meat

OCTOBER 12TH-18TH 2019

The world economy'sstrange new rules

A SPECIAL REPORT

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Albania .._ ..All900 Croatia _ HRK48 France _ 0.50 Ireland __ _ €7.so tatvia {7.50 Netherlands (7.50 Romania RON29 Spain .0.50Austria _ {7.50 Cyprus €7.50 Germany •...._._ €7.50 lsrael., _._ NIS43.00 tebancn., l!13,000 Nigeria Nairal,700 Saudi Arabia o •• RiaisSO Sweden __.5KR66Bahrain •...•... Dinar4.75 Czech Rep _..CZK199 Gibraltar _.. GIPS.99 ltaly .. €7.50 Uthuania {7.50 Norway NKr66 Serbia RSD720 Switzerland CHF10Belgium (7.50 Denmark DKr53 Greece _ _ (7.50 Kazakhstan ..KZT2,800 luxembourg (7.50 Poland PlN29 Slovakia €7.50 Turkey _ Tl18Bosnia BAM 16 Estonia €7.50 Hungary HUF2, 170 Kenya KShs680 Malta €7.50 Portugal CONT .. (7.50 Slovenia €7 .50 UAE Dirhams45Bulgaria BGN13 Finland €7.50 lceland IKr860 Kuwait Dinar3.60 Montenegro €7.50 Qatar Rials45 South Africa R70.00 UK l5.99

-Contents The Economist October izth 2019

OnthecoverThe way that economies workhas changed radieally. So musteconomie policy: leader,page 13. Inflation is losing itsmeaning as an economieindieator, says Henry Curr.See our special report, afterpage 44. What to make of thestrife at the E;uropean CentraiBank: Free exchange, page 72

• Trump and Ukraine-thebackstory The telephone' calithat led Congress to investigateDonald Trump was the latestlink in a long, sad and sordidehain: briefing, page 23.Assessing Congress's options fordealing with an uneo-operativeWhite House, page 39.Institutional eonservativeswould eondemn the president;Republieans probably will not:Lexington, page 44

• lndia's tottering banksA rotten financial system eouldruin the countrv's economieprospeets: leader, page 16.Banks' share priees are beinghammered. Investors worryabout what horror will berevealed next, page 65

• Where are ali the self-drivingcars? The arrivai of autonomousvehicles is running late. BlameSilieon Valley hype-and thelimits of AI: leader, page 14. Thepath to driverless vehicles is long.and winding. China is taking analternative route to the West's,page 59

• Fake moos: the rise ofplant-based meat The potenti alfor a radieally different foodehain, page 56

The world this week8 A summary of political

and business news

Leaders13 The world economy

Strange new rules14 The Middle East

The man without a pian14 Autonomous cars

Traffic, jammed16 India's economy

A big stink on the brink18 Pilfering potentates

Ill-gotten loot

Letters20 On our climate-change

issue

Briefing23 Ukraine and

impeachmentThe backstory

Special report:The world economyThe end of inflation?After page 44

oBagehot The sad fate ofthe ideology that hasanimated the ConservativeParty since the 1980s,page34

Europe27 Poland at the polls28 Building "Port Trump"29 Portugal's election29 Police murders in France30 Charlemagne Russia and

theEU

Britain31 Northern Ireland adrift32 The Brexit talks founder34 Bagehot Thatcherism's

sad fate

Middle East & Africa35 Turkey's push into Syria36 Protests in Iraq37 Elections in Mozambique37 Money to burn in Kenya38 Africa's money-launderers

United States39 Congress v POTUS40 Offending China41 Chicago's red line42 The meaning of sex43 Atlantic City44 Lexington Republicans

and impeachment

The Americas45 Canada's election46 Bello The end of Peruvian

exceptionalism47 Ecuador's state of

emergency

5

~~Contents continues overleaf

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Finance &economics65 lndia's failing banks66 America's economy67 HKEX throws in the towel67 South Korean nationalism68 Tether's travails68 Killing the credit card69 Buttonwood The power

of narratives70 Vatican scandal72 Free exchange Strife at

the ECB

Science &technology73 The 2019 Nobel prizes75 Global health76 Spider silk and bacteria

6 Contents The Economist October izth 2019

Books& arts77 Reading at the South Pole78 The East India Company79 The danger of charts79 An heiress at war80 Peace orchestras

Economie &financial indieators84 Statistics on 42 economies

Graphie detail85 Among critics of Israel, conservati ves are most likely

to be anti-Semitic

Obituary86 Shuping Wang, exposer of an HIV scandal

One-year print-only subscription (51 issues):

Euro-zone countries.. . __ €275Denmark .DKr 2,035Hungary HUF 88,932Norway ...NKr 2,165Poland PLN 1,183Sweden... . . .5Kr 2,469Switzerland .5Fr 349Turkey.... . TRY l,70SOther Europe (ex UK) 075Middle East-GCc. US $415South Africa ZAR 4.690, US $335Middle East and Africa US $335

O~ecyclePEFC certifiedThis copy of The Economistis printed on paper sourcedfrom sustainably managedforests certified by PEFewww.pefc.org

Asia49 Privilege in South Korea50 Refugees in New Zealand50 Thai teenage pregnancy51 Singapore and Hong Kong52 Banyan Violence against

women

China53 Domestic violence54 Emergency powers in

HongKong55 Chaguan Lessons frorn

Tiananmen Square

International56 Fake moos: plant-based

meat

Business59 Self-driving China60 Blacklisting Chinese AI61 Bartleby In praise of

dissenters62 Planemaking's duopoly62 Saudi Aramco63 Spillover from GM's strike64 Schumpeter Is Airbnb

another Uber?

-Volume 433 Number 9164

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