Americans who think the coming election is their last chance to save the republic from authoritarianism — Americans, until recently, like me — are almost certainly wrong. Authoritarianism is already here, and what Americans will decide in November is whether it will grow more deeply entrenched. According to a new report, the US is undergoing “substantial autocratisation” — so much ...

China may be the only major economy to notch growth at all in 2020, quite the reversal after the onset of Covid-19 triggered a historic collapse early in the year. This revival has been reflected in the yuan, Asia’s best performing currency this quarter. There’s good reason to think it isn’t a fluke. Bloomberg Economics projects China’s gross domestic product ...

Unibail-Rodamco-Westfield has a history of shrugging off crises. A decade ago, Europe’s No. 1 operator of top-tier shopping malls and offices doled out cash to shareholders even as banks collapsed and austerity ruled. The rise of online shopping only pushed it further to keep buying trophies like Westfield. That halo of invincibility has well and truly slipped after Covid-19. The ...