Economy

Merkel's Legacy: The Rise And Stall Of The German Economy

How have 16 years of Chancellor Angela Merkel changed Germany? The Chancellor accompanied the country's rise to near economic superpower status — and then progress stalled. On technology and beyond, Germany needs real reforms under Merkel's successor.

BERLIN — Germans are doing better than ever. By many standards, the economy broke records during the reign of outgoing Chancellor Angela Merkel: private households' financial assets have climbed to a peak; the number of jobs recorded a historic high before the pandemic hit at the beginning of 2020; the GDP — the sum of all goods and services produced in a period — also reached an all-time high.

And still, while the economic balance sheet of Merkel's 16 years is outstanding if taken at face value, on closer inspection one thing catches the eye: against the backdrop of globalization, Europe's largest economy no longer has the clout it had at the beginning of the century. Germany has fallen behind in key sectors that will shape the future of the world, and even the competitiveness of its manufacturing industries shows unmistakable signs of fatigue.

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Pokemon, Magic As NFTs: How Tech Fuels Trading Cards Market

The heroic fantasy universes of the 1990s have become a new focus of investment. One card in the mega-popular Magic series recenty sold for more than $500,000, and with the introduction of blockchain technology, the market looks to expand even more.

Playing cards illustrated by the greatest science fiction and "heroic fantasy" artists of the moment, the blockchain to make them unique digital works, and a series of novels to accompany the story… Welcome to the fairytale universe of Cross the Ages.

Conceived by the young Marseille-based startupper Sami Chlagou, who is already behind a video game distribution and production company, this project aims to turn a generation's passion for trading cards and role-playing games into a business as disruptive and speculative as the cryptocurrency market.

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Why Can't India Win More Nobel Prizes?

Winning a Nobel Prize can't be the only criterion by which we measure a nation's scientific achievement — but it is a matter of pride, like winning a gold at the Olympics. Lower funding on R&D alone doesn't explain India's abysmal show at the Nobel Prizes. Some key elements seem to be missing, beyond funding and infrastructure, vis-à-vis our scientists' ability to produce path-breaking work.

NEW DELHI — As expected, Indians are euphoric about their country's success in the recently concluded Tokyo Olympic Games, and for all the right reasons. However, India's share of seven medals – including the first individual gold in athletics by Neeraj Chopra – has stirred the hopes of many towards a similar accomplishment in another area of human activity: winning Nobel Prizes.

The Olympics and the Nobel Prizes have similar historical significance. Modern-day Olympics started in 1896 in Athens, Greece, while the first Nobel was awarded five years later. India first participated in the Olympics in 1900 in Rome – and won the first Nobel Prize in 1913. Both the Olympics and the Nobel Prizes are the highest awards in each of their categories.

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Foreign Students At Dutch Universities Are “Homeless” - Blame Brexit

Brexit has doubled the cost of studying in the UK for Europeans, which means many more students are heading to Dutch universities, which offer multiple programs in English. That's caused hundreds to arrive at universities in the Netherlands this month without promised housing.

With their sleeping bags in hand, dozens of students occupied the main administration building of the Rijksuniversiteit Groningen in the Netherlands this week to protest the lack of housing for international students. The situation is dire according to local organisation Shelter Our Students (SOS), as more than 600 international students at Groningen have started their studies this September homeless, Dutch daily NRC reports.

The Netherlands was already an increasingly popular destination for international students as it offers a wide variety of English-taught degrees. But this year, Dutch campuses are particularly overflowing with foreign students for two other reasons: Brexit, which has made UK universities suddenly very expensive for European Union residents looking to study in English; and the end of COVID-19 restrictions is bringing students back to class.

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Future
Sol Park

Latin America's Copycat Startups: Thieving Or Innovation?

Across the region, entrepreneurs have been hailed for taking innovative ideas inspired elsewhere and applying them nationally or regionally. But the business and ethical dynamics involved are not so simple.

SANTIAGO — When Chazki, a Peruvian courier startup, entered the market in 2015, its founders described it as "the Uber of logistics." It made sense. The firm initially recruited freelance collaborators, not to carry passengers, but deliver purchased items in their "last mile."

The Uber tag stuck though, as tags have done with other regional startups: Mercado Libre was "Argentina's eBay," Nubank the "Revolut of Brazil," and Rappi was the WeChat of Colombia. Indeed, many Latin American firms are termed copycat startups for replicating successful business models conceived in developed hubs like the Silicon Valley.

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Geopolitics
Charles Kurzman

20 Years After 9/11, Islamic Terrorists Struggle To Recruit

Both al-Qaeda and ISIS openly complain about the difficulty in finding new members ready to give everything for the cause.

Al-Qaeda was planning two sets of terrorist attacks on the United States in 2001. On Sept. 11, 2021, as Americans commemorate and mourn the lives lost that Tuesday morning 20 years ago, it is important to remember the second plot as well – the attacks that didn't happen.

Khalid Sheikh Mohammed, the organizer of the 9/11 operation, originally envisioned simultaneous attacks on the East Coast and the West Coast of the United States. He bragged about having had dozens of recruits to choose from.

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Coronavirus
Alexander Gillespie

New Zealand's COVID Exceptionalism Risks Unraveling

As New Zealand grapples to bring a Delta outbreak under control and to accelerate the vaccination rollout, social cohesion is vital for a successful elimination strategy.

Political consensus on elimination has endured so far. Unlike the anti-mask and anti-vaccination movements elsewhere, most New Zealanders continue to back the prime minister's decision to place the country under the strictest lockdown.

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Future
Stefano Lupieri

Seeing Green: How Algae Can Change Our Diets, Health And the Climate

Algae could bring solutions to major challenges such as carbon sequestration and world hunger, provided we succeed in building an industrial sector.

The installation is a little artisanal, but the spectacle is no less fascinating. Specimens of Palmaria palmata twirl around in large columns of water, fed by a forest of flexible pipes, and unfold their amaranth-red tentacles following the bubbles that agitate the environment.

Arranged in a dark room, these vertical aquariums are surrounded by LED ribbons that focus the light on the wall of the tubes and attract the eye. The transparency and colorful shades of this algae, better known by the name dulse, are intensified. It might look like an art exhibit, but it's actually the Roscoff Biological Station, one of the most advanced research centers on algae in Europe, with around 100 scientists dedicated to studying the aquatic organism.

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Geopolitics
Mohammadreza Hosseini

Afghan Debacle Reminds Us That Finance Rules The World

The fall of the Afghan national government may be a calamity for the Afghans but not for the world's big-money interests, which prefer to deal with ruthless, incompetent regimes that will sell out their countries.

-OpEd-

LONDON — The world is still in shock from the sudden departure of U.S. troops from Afghanistan, the collapse of its vast, national army, and the Taliban overrunning the country within days before an almost coordinated silence among governments and media.

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In The News
Hannah Steinkopf-Frank, Meike Eijsberg and Bertrand Hauger

Kabul Blast Aftermath, Nigerian Students Freed, Hummingbirds Vs. Harassment

Welcome to Friday, where evacuation flights resume at Kabul airport after yesterday's deadly attack, dozens of kidnapped Nigerian students are freed, and female hummingbirds evolve so that males get off their feathers. We also boldly explore the surprising crossroads between science fiction and real-life military strategy.


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Economy
Anne-Claire Bennevault

Don't Trust The TikTok Business Gurus

Anne-Claire Bennevault, founder of consulting firm BNVLT and think tank SPAK.fr, weighs in on the rise of the so-called "finfluencers".

Op-Ed

Some 15 or 20 years ago, if you were looking to get into finance, you would read the Wall Street Journal, pay attention to Henry Kaufman's analyses and closely follow both Ray Dalio's speeches and Warren Buffet's masterclasses. These traditional financial gurus do continue to have very large audiences, but now they are rivaled by tech-savvy newcomers who understand the power of social media.

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Economy
Hortense Goulard

All Aboard Europe's Night-Train Revival

After years of letting overnight rail travel fade into oblivion, France and other European countries are rushing to reverse course. Doing so will be easier said than done, however.

BRUSSELS — With the summer season just about to kick off, France's prime minister, Jean Castex, celebrated the reopening this past May of the Paris-Nice night train, a route that has been closed since 2017, by making the trip himself. It was a "symbolic" journey to highlight the rapid realization of the government's recovery plan, which includes pumping 100 million euros back into the country's network of night trains.

Castex, a notorious lover of railways, did not fail to highlight the "environmental dimension" of night-time rail travel. The initiative comes as a proposed climate law is being debated in the National Assembly. And even though his return to Paris by plane took away some of the strength of the publicity stunt, it did not detract from the new fervor of travelers — and railroad companies — for night trains.

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Economy
Hannah Steinkopf-Frank

A Birds-Eye Look At The Global Cryptocurrency Revolution

The products originally of America's tech industry, Bitcoin and other digital currencies have since been adopted around the world. Nigeria, Vietnam and the Philippines now have some of the highest rates of cryptocurrency use, and many local entrepreneurs and governments are trying to cash in by building their own domestic coins.

Not all of these attempts have been successful. But some are providing innovative solutions to adapt to specific needs and forge local competitors in the global economic marketplace. From Cambodia to El Salvador, here are five examples of where crypto could prove to be the currency of the future.

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Society
Rémi Dupré

Messi In Paris: Qatar's Long Game With The Argentine Icon

The legendary soccer star of FC Barcelona has signed up with the Parisian club, owned by the Emirate since 2011...and just in time for the World Cup slated next year in Qatar.

PARIS — Despite his inexhaustible fortune, did Sheikh Tamin Al-Thani ever think he would be able to acquire such a player to add to his sporting showcase? Ten years after buying Paris-Saint-Germain (PSG), the Emir of Qatar can now see the Argentine prodigy Lionel Messi, the best footballer of (at least) this century, don the jersey of the French capital's club.

On Tuesday, after five days of negotiations, the longtime FC Barcelona star agreed to play for the team coached by his compatriot Mauricio Pochettino: he signed for two seasons, with an additional year as an option (for an annual salary of over 30 million euros, excluding bonuses).

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Economy
Hannah Steinkopf-Frank

Salvage Grocery Stores Look To Fight Food Waste, At A Profit

Not your (hippy) Grandma's dumpster diving...

A bruised piece of fruit, a can of soup just past its best-by-date or even an outdated brand logo: In the past, these "less than perfect" items would have ended up in the trash, contributing to the estimated one-third of food that is lost or wasted each year. Industrialized countries produce about $680 billion in food waste annually, and it's also becoming a significant problem in developing economies. But around the world, so-called salvage grocery stores are popping up to not only decrease the foodstuff we throw out, but provide affordable products and other community support through social programs.

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Economy
Osman El Sharnoubi

Grocery Shopping In Egypt: Local Ingredients Meet Global Trends

A new high-end food retailer, Gourmet, is helping reshape Egypt's supermarket industry.

CAIRO — A few months ago, I decided to challenge Gourmet.

Egypt's most prominent high-end grocery chain had earned a reputation for stocking ingredients that were hard to find anywhere else. For foodies, Gourmet had opened the door to previously inaccessible recipes. I'm not a foodie, but I do have access to The New York Times" cooking app after one of my colleagues generously gifted me a subscription. Standing outside Gourmet's branch in Maadi, I scrolled through the app looking for a dish that was — in orientalist parlance — "exotic." I eventually landed on a recipe requiring several ingredients unlikely to be found in any Cairo supermarket: Thai red curry paste, Fresno or serrano red chile, unsweetened coconut flakes and baby spinach. The dish? Red curry lentils with sweet potatoes and spinach.

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