Articles by Bloomberg
Bloomberg
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[Leonid Bershidsky] Video replay for refs makes World Cup better
Soccer can be annoying, especially to those who watch only the big tournaments. There are too many fouls, baffling referee errors and players without a scratch on them rolling in the grass as if in unbearable pain -- and too few goals. But the 2018 World Cup has been surprisingly different (with a few exceptions). The improvement probably comes down to a single rule change: Referees now have access to video replays. A little more than a week into the monthlong competition, it’s too early to kno
Viewpoints June 24, 2018
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[Adam Minter] China’s epic film bubble is about to pop
Four of China’s leading film executives recently gathered on a Shanghai stage with a bleak message. “There are 20,000 film and television companies” in China, said Wang Changtian, president of Beijing Enlight Media. “Many aren’t making money at the moment, so why are they still here?” He predicted that thousands will go bankrupt over the next year -- a full-on bubble in movie-making, ready to pop. It’s a classic Chinese tale. Bureaucrats in Beijing decide a favored industry must become globally
Viewpoints June 24, 2018
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[Noah Smith] Domino’s Pizza fixing potholes is an ominous sign
I recently noticed a string of interesting news stories, all with the same theme. Domino’s Pizza is donating money to 20 US cities, to be used for fixing potholes and cracked roads. Salesforce has donated $1.5 million to reduce homelessness in San Francisco, and its CEO, Marc Benioff, has spoken of grander schemes to end homelessness in the city entirely. And Facebook is talking about renovating a defunct bridge that runs across the San Francisco Bay near its offices. All of these initiatives, i
Viewpoints June 24, 2018
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[Leonid Bershidsky] Mr. Putin, seize chance to release dissidents
On Monday, the US State Department called on Russia to release “more than 150” political and religious prisoners. In this political climate, an appeal like that from the US would usually be the best way to ensure they remain behind bars. But the State Department may have picked a good moment: President Vladimir Putin could show largesse by pardoning the prisoners while the eyes of the world are on Russia and the World Cup. The Russian human rights group Memorial, which maintains the most complet
Viewpoints June 22, 2018
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[David Fickling] China digs a trench for US trade siege
If you’re about to start a trade war, best ensure your citizens are in an optimistic mood. That’s one way of looking at the US tax cuts passed in November. Stimulus from that law will boost economic growth by about three-quarters of a percentage point this year and next, Federal Reserve Gov. Lael Brainard said last month –- no doubt one reason the S&P 500 index finished just 3.8 percent below its record high on Tuesday despite the growing drumbeat on trade. Not content with returning fire on pla
Viewpoints June 22, 2018
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[Noah Smith] Too many of America’s smartest waste their talents
A high-profile court case about meritocracy and college admissions has captured much attention. A group called Students for Fair Admissions alleges that Harvard University uses highly subjective personality ratings to penalize Asian applicants. The former tend to outperform white applicants on every measure except for so-called personality, but the number of Asian-American students at Harvard has fallen relative to the Asian-American population, while the number for white students has risen, dur
Viewpoints June 21, 2018
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[Hal Brands] China’s master plan: How the West can fight back
In the first three installments of this series, I’ve explored the changing nature of China’s challenge to US interests and the existing international order, with a particular focus on three issues: China’s progressively more global military ambitions, its promotion of authoritarianism and subversion of democratic practices abroad, and its efforts to build new international institutions more responsive to its own interests.American officials have known for many years that China would eventually b
Viewpoints June 21, 2018
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[Leonid Bershidsky] Europe and the US could make migration manageable
As the global number of asylum seekers continues to increase, migration is now a political lightning rod on both sides of the Atlantic. And yet politicians don’t seem interested in solving the problem so much as wielding it against opponents. According to a new European Union report on the asylum situation, 954,000 asylum applicants were awaiting decisions in Europe at the end of 2017, 16 percent fewer than a year earlier. Fewer new applications were lodged, and more of them were rejected as the
Viewpoints June 21, 2018
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[Michael Schuman] China should listen to US trade complaints
President Donald Trump and the Democrats can’t agree on anything, except one big thing: China. After the administration announced plans on June 15 to impose tariffs on $50 billion of Chinese imports, Charles Schumer, the Democrats’ Senate leader, called the decision “on the money.” That was a startling statement on a startling fact: China has few friends left in Washington, on either side of the political aisle. The bipartisan vote to block Trump’s compromise on ZTE Corp. sanctions is further e
Viewpoints June 21, 2018
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[Maude Lavanchy and Willem Smit] How expensive is the World Cup?
Every four years, as football fans gear up for the World Cup, researchers engage in a game of their own: trying to determine just how costly the tournament is to employers and economies. Our own contribution to this genre suggests that the calculation is a bit more complex than is generally acknowledged. To calculate the number of productive hours at risk in this year’s tournament, we assume local office hours are between 9 a.m. and 5 p.m., and that 50 percent of each country’s workforce will be
Viewpoints June 19, 2018
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[Hal Brands] China’s master plan: A worldwide web of institutions
The basic theme of this series has been the degree to which the challenge posed by rising, assertive China has both intensified and changed in recent years, as Beijing’s global ambitions and initiatives have reached a new level. While most Westerners are familiar with Beijing’s efforts to do so through its economic power and growing military might, another facet of that campaign has received less attention: China’s intensifying efforts to remake the international institutional order. For decades
Viewpoints June 18, 2018
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[Conor Sen] Hosting World Cup is US’ chance at redemption
The success of North America’s bid to host the 2026 World Cup is one hopeful sign that the US and its neighbors could be ending the era characterized by dysfunctional governance, infrastructure neglect and a withdrawal from the world stage. For the first time in ages, America has something to look forward to. Since the attacks of Sept. 11, 2001, the world has seemed zero sum, divided into winners and losers: the political extremes of left and right, terrorism versus nations, the wealth of the ho
Viewpoints June 18, 2018
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[Doug Rand and Stuart Anderson] Doesn’t Trump’s America need more entrepreneurs?
Theoretically, the Trump administration’s immigration policy is based on two core principles: upholding the rule of law and promoting a “merit-based” system that’s good for the economy. So why has the Department of Homeland Security just proposed to scrap the International Entrepreneur Rule, a late-Obama program intended to lure the world’s most promising entrepreneurs to create companies and jobs in America rather than elsewhere?The department doesn’t dispute the lawfulness of the program, whos
Viewpoints June 18, 2018
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[David Fickling] Iron law of history blunts China trade folly
Who invented modern steel? It’s a 160-year-old controversy that’s still going strong -- and the answer, in a way, lies at the heart of the current US-Chinese trade tensions. Many Americans are taught that the originator was William Kelly, whose ironworks in Eddyville, Kentucky was among the first to produce the metal. In the UK and elsewhere, credit generally goes to Henry Bessemer, who obtained the first patents for a mass production process that’s used in modified form to this day. As with the
Viewpoints June 18, 2018
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[Hal Brands] China’s master plan: exporting an ideology
The 19th Congress of the Chinese Communist Party in October 2017 is sure to loom large in future accounts of China’s relations with the world. It was then that the party cleared the way for Xi Jinping to rule indefinitely, and when Xi himself advertised China’s global ambitions by declaring that Beijing would now “take center stage” in world affairs. It was also when Xi threw down the gauntlet in an equally consequential way. In his three-hour speech to the assembled delegates, Xi extolled the
Viewpoints June 17, 2018
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