Dirty capital: the City of London SCR SCE Ue ERROR as ero AT SR USMC Pere eU nes The next recession ater e RW LLL it aye iil“onthe cover ‘When the downturn comes, ‘toric politics and constrained central banks willadd to the risks: leader, page 13. ‘Anotherrecesstonis ust matter of time. Ttwillbe harderto fight than the ast, ‘See our special report after page 44.Global growths slowing. but booming ‘America stands out, page 67. ‘Chinas the only big country shifting to looser monetary poticy, page 68 The Economist ontine Dallyanalysisand opinion to supplement the print edition, plus autioand vdeo, anda daily chart Exonomist.com E-mall:nowslettersand mobile edition Eeonomist.comematt Printedition:avalable online by ‘7pm Londontime each Thursday ‘tanestcom/printdition Audio edition: available online ‘adownload each Friday ‘ea ican tendon date stm, big. Sr rat C40, (Genga jnmeebur Yael, osm Honea Now bb eo Pr Siahavc Stated, Sead Sangha asepore ihe Wao 9 The world this week Leaders 13 The world economy ‘Thenext recession 24 Climate change The temperature rises 44 Saudi Arabia The fate ofa journalist, 16 The mid-terms “Medicare for all” 318 Financial crime Dirty capital Letters 29 OnBrett Kavanaugh, Chile, lamp bulbs, drones Briefing 22 Veganism The retreat from meat. asia 25 Education in India (3) The war on private schools £26 Education in India (2) Happlest days of your life 27 Fakistan's economy Imran can't 27 Women’s rights In Central Asia Sing for solidarity 28 Free speech in Singapore Gavel-rousers 28 ections in Bhutan Polite but firm 30 Banyan Japan and the Olympic curse China’ 31 Lawenforcement The all of Interpol’ boss ‘32 Hong Kong's freedoms ‘Awarning to the press 33 Chaguan Why costume drama matters United States: 35 Democratic policies Universal pictures 36 Nikki Haley resigns UNdone 38 The mid-terms (1) Hispanicvoters 38 Wine growing Pinot pot 39 The mid-terms (2) The five-state conundrum ‘40 The mnid-terms (3) Model voters 43: Lexington Confronting China The Americas ‘42 Brazil's elections: ‘Rampaging vegans Peoplein: Abalit-bos evolition ___ficticountriesareteating alot: ‘43 Bello more plant-based food, the Trasl’snect president _ futhettheygo-thebetter andits army : ‘44 Canada and cannabis Big bongs, little bang Special veport The world economy The next recession After page 44 Middle East and Africa 45 Saudi repression [dissident disappears eas Ge hrabenilesin istanbul Caen aE ea peter | 46 Karat’ trade with china “Pats humanuenontes Too open for busines? | fgrpower-theynnyeven ack”? ‘47 Ethiopia and Eritrea asarestraintonarilitaristic , Open borders. or now 48 Elections in Nigeria ‘An ugly beauty contest 68 Beer in Niget ‘The devit’s brew president: Bello, page 43 Europe 49 The war inUkraine ‘Along the contacting 50 Bavarian elections (Conservative conundrums 50 Latvia's election Russian quarter ‘51 Revellers in Hungary Becoming a pest 54 French nationalists Shes back! 2 Global warming in Svalbard Melting away 53 Charlemagne Waiting for GoodotThe Gy ot London Fingnciat flows aepolluted by itt ‘money. Timeto clean up: leader page i Britain's strong on transparency but .weakon enforcement, page 72. ‘Thenotion thatthe Giyof Loindon needs to shrinks gathering momentum. Itis Tistaken: Schumpeter, page 66. Britain takeson Russian spies, ‘pages ‘Supply chains China's ‘dominance of the electronics | supply chainworries Western companiesand governments, ‘tewillbe hard to break nonetheless, page ‘Climate change Action might yetavertthe worst, Buthaw Uikelyisthat? Page 76.Anew report protucesa mixture of alarmand apathyileader, page14, Paul Romer and William Nordhaus win the Nobel economics prize: Free exchange, page73. Britain 56 The Brexit negotiations Filling in the gaps 55 Scottish independence ‘The other Leavers 56 Russianand Britain Waging information war 57 Bagehot a High culture's king International 58 Rape during conflict The wolves of war a 61 Electronics manufacturing The great chain of China 162 Social networks Plus, minus 63 Ryanair and trade unions Labour pains 63 Unilever Sour taste 66 Bartleby Minds do matter 65 Food detivery in India Free lunch 65 Coffee wars Full of beans 66 Schumpeter Britain and the City Finance and economies 67 The world economy Pauling ahead 68 Chinese economy Feeling humbled 69 Buttonwood The long and short oft 70 Human capital ‘Amativational metaphor 70 Short-selting Baiting bears 71 Financial planning Pet provisions: 72 Money-taundering in London Awash 73 Free exchange The Nobel prize ‘Science and technology 76 Global warming War war not jawjaw 7B Probiotics for vegetables Alittlehelp from my friends 78 Extraterrestrial ife Whereis everybody? Rape The Nobel peace} ‘honours two campaigners. againstrapein wer.—ati ev ‘thats moretamented tharr ‘understood, page 58 Books and arts 19 Gandhi ‘hero for our time 80 Political slogans They had a dream 81 Theatrein New York She the people 81 Anovel of immigration No escape 82 North Korean art Mist on the mountains 84 Economic and financiat indicators Statistics on 42 economies, plus closerlookat maritime trade Obituary 86 Charles Aznavour Heartsong —— or, Decoy of he feo > eee PEFC Sosmaee =o =e Crrecyde areata ‘etait eee sepa REL mano jaded ape ae ees ear ane Rn pe ng el a TE Sy elle pea ea on Retort ae Wierd msec apr