The Economist this week | | Highlights from the latest issue | | |
| As America’s confrontation with China escalates, our cover story looks at the resilience of the Chinese economy under Xi Jinping. A new stage of state capitalism is under way—call it Xinomics—involving tight control over the economic cycle, a more efficient state and a blurring of the boundary between state and private firms. Xinomics has performed well, but the real test will come over time. China hopes that its techno-centric form of central planning can sustain innovation; history suggests that diffuse decision-making, open borders and free speech are the magic ingredients. One thing is clear: any idea that confrontation will be followed by capitulation is misguided. America and its allies must prepare for a far longer contest between open societies and China’s ruthless mix of autocracy, technology and dynamism. | | |
 | Zanny Minton Beddoes
Editor-In-Chief | | |
Editor’s picks Must-reads from the current edition | | |
| The government of Lebanon resigned in the wake of a devastating explosion in Beirut. The outgoing prime minister, Hassan Diab, blamed a “system of corruption” for bankrupting the country and crippling basic services. Tens of thousands of people protested. World leaders and international organisations pledged nearly $300m to help those affected by the blast. | | |
| Despite a big drop in quarterly profit, Saudi Aramco said it would still pay a shareholder dividend, most of which goes to the Saudi government. The oil company’s net income in the three months to June 30th was $6.8bn; in the same quarter last year it made $24.7bn. Unlike other oil companies, Aramco has not written down assets because of lower oil prices, but it will slash spending. | | |
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