This month a group of South Korean defence-industry bosses and government officials visited Ottawa. Their pitch: howitzers, rocket-launchers and submarines for the Canadian armed forces. They are not the only East Asians taking advantage of the global rush to rearm, not least among America’s suddenly nervous allies. Japanese firms are also finding plenty of eager buyers. More
MANY OF THE world’s richest deposits of iron ore and copper predate the breakup of the last supercontinent, Pangaea, around 200m years ago. Tectonic shifts subsequently scattered the global economy’s two favourite metals around Earth’s surface. An abundance of the iron ended up in what are now Australia and Brazil. Prodigious seams of pre-Pangaeatic copper settled in places like central Africa. More
Long long ago, colleagues would suggest changes to documents sequentially. They would make comments and add revisions to a file on their own computer, and then send it on to the next person. It was inefficient and opaque. The era of the shared doc has made this process much more user-friendly and transparent. But like all social activities, it has the great drawback of exposing you to other people. More
Who is to blame for America’s enormous health-care costs? The sector accounts for almost a fifth of the country’s GDP, twice the average for wealthy countries, yet outcomes are no better. Americans under 70 are almost twice as likely as their counterparts in similarly affluent nations to die of cardiovascular diseases. Death rates due to other conditions like diabetes and kidney diseases are also much higher. More
A shopping spree looks set to begin in the world of luxury. Prada, one big-name Italian brand, is said to be in talks to buy another, Versace. On March 13th Donatella Versace stepped down as chief designer of the firm founded by her brother. Giorgio Armani, the 90-year-old founder of his eponymous label, has said he isn’t ruling out a merger as he plans for retirement. Last month the family that owns Ferragamo, one more Italian brand, had to reassure staff that it is not up for sale after its chief executive abruptly left. More
For Global companies, there is no place quite like America. As growth in China and Europe has slowed, its economy has continued expanding at a decent clip. America remains by far the world’s biggest consumer market, accounting for almost 30% of total spending, and is home to the largest stock of foreign direct investment (FDI), at around $5trn. More
On March 20th the 109 members of the International Olympic Committee (IOC)—a group that includes the grand duke of Luxembourg, a former Costa Rican president and an Oscar-winning actress from Malaysia—will gather at a luxury resort in Greece to elect their new president. The job is one of the most powerful in global sport. More than 200 countries take part in the games. The IOC’s budget is in the billions of dollars and many sports rely on it to survive. The outgoing president, Thomas Bach of Germany (pictured), has been a steady hand on the tiller. During his 12 years in office he has overseen a steep rise in revenue while steering the games through the Russian doping scandal and the covid-19 pandemic. His successor will take charge at a time when difficult decisions loom. More
THERE ARE few more potent symbols of American capitalism than a Walmart supercentre, its endless aisles heaving under the weight of as many as 150,000 different products, from fresh avocados to fancy Zojirushi rice cookers. Similarly, there are few more visible emblems of the ties that bind America’s and Mexico’s economies than those supercentres catering to shoppers south of the Rio Grande. More
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