From: The Economist - Thursday Sep 10, 2020 07:39 pm
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September 10TH 2020

The Economist this week

Highlights from the latest issue

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We have two covers this week. In most editions we examine the fight over the future of the office. People associate it with routine and conformity but the office is fast becoming a source of economic uncertainty and heated dispute. The $30trn commercial-property market is stalked by fears of a slump. The covid calamity is prompting a long-overdue phase of technological and social experimentation in the workplace. Some 84% of French office-workers are back at their desks, but fewer than 40% of British ones are. Companies need to adapt to fit a sporadic attendance pattern and governments should modernise employment law and reimagine city centres. And what about white-collar workers? If you step back into the office this month, sit down and log on—but don’t get too comfortable.

Our cover story in the Middle East and Africa argues that capitalism must be for the many not the few. In poor countries that means giving more people title over their property, so they can use it as collateral to buy seeds or start a business. Twenty years ago Hernando de Soto, a Peruvian economist, argued that this could harness informally owned land and other assets worth $13.5trn at contemporary valuations. Since then his ideas have spread. India wants to use drones to survey its villages; Rwanda has mapped all its territory. Even so only 30% of the world’s people have formal titles today. Reformers must keep up the hard slog of recording who owns what.


Zanny Minton Beddoes
Editor-In-Chief

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The world this week

Boris Johnson, the British prime minister, proposed a unilateral change to parts of the Brexit withdrawal agreement related to the Northern Ireland protocol, which averts a hard border with the European Union. There is no precedent for Britain breaching international law in this way. It may be British brinkmanship, as talks over a trade deal continue. But Ursula von der Leyen, head of the European Commission, said it might result in no deal at all.

More from politics this week

A sell-off in tech stocks led to the worst trading period for the Nasdaq since mid-March, at the start of the covid-19 crisis. Over a few days the share prices of Amazon, Alphabet, Facebook and Microsoft fell by more than 10% from recent highs; Apple’s dropped by 16%. The rout also put a dent in the S&P 500, which fell back from a record close, and other stockmarkets. Tech companies’ share prices have soared this year, far ahead of the rest of the market. Some investors think they are long overdue for a price correction; others that this week was just a blip.

More from business this week

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