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Breakingviews - U.S. sanctions on China are means without an end

U.S. sanctions on China over Hong Kong would ratchet up tensions between the two superpowers, but with no obvious goal beyond punishment. President Donald Trump on Friday says he would take steps to slap penalties on officials of the People’s Republic. The first move of its kind would escalate tensions, yet it probably won’t deter Beijing and could spur retaliation.

Breakingviews - Civil unrest puts U.S. economy in a vicious circle

One lesson from Covid-19 is that a pandemic can exacerbate existing trends. For the United States, one of those is income inequality, and its connection to race. Civil unrest broke out in Minneapolis after George Floyd, a 46-year-old African American man, died in police custody. Violence has the potential to make the country’s already large wealth and income gaps even worse, and push the American economy into a vicious circle.

Breakingviews - Review: MMT lives up to some of its promises

Modern Monetary Theory is right for right now. It is revolutionary. It shows common sense. And it has a tendency to oversimplify and overpromise. Stephanie Kelton’s “The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy” is a good place to see the great virtues and significant weaknesses of this suddenly popular approach to government finance.

Breakingviews - Irish eyes keep smiling despite a strict lockdown

The tower of toilet paper grazed the roof of Killaloe’s SuperValu, in Ireland’s County Clare. To a weary traveller just arrived from London, where essentials like hand sanitiser and baby formula were nowhere to be found, it was a beacon of hope. It turns out the treasure trove was not unique to the west of Ireland. Grocery shops throughout the Emerald Isle were fully stocked, having doubled their warehouse capacity in anticipation of Britain’s departur

Breakingviews - China can live with a less special Hong Kong

Hong Kong’s unique brand of autonomy has been a gift for China. The city has been a channel for the world’s most populous nation to get moderately richer without Beijing having to relinquish control over its economy and people. It is no longer essential to the mainland’s future prosperity, however. Stripping it of the right to be treated differently from the People’s Republic, as the United States has proposed, only shows how disposable that special status is.

Breakingviews - Twitter can’t please everyone but still has to try

Jack Dorsey can’t win. On Tuesday the Twitter chief executive sanctioned a simple advisory to one of Donald Trump’s tweets, incurring the wrath of the U.S. president – who has vowed to make life tough for social media companies. The political spotlight is more uncomfortable for Dorsey than his rivals, because he must give greater weight to the interests of short-term investors, including activist fund Elliott Management.

Breakingviews - Vacant arenas fortify TV’s financial grip on sport

Empty sports stadiums could turn into Covid-19’s most abiding cultural legacy. Since the World Health Organization declared a global pandemic in March, virtually all sporting events have been cancelled, including this summer’s Olympic Games in Tokyo and Europe’s flagship soccer tournament, Euro 2020. Even those which have tentatively restarted, like South Korea’s KBO baseball league and Germany’s Bundesliga soccer division, have plied their trade in eeri

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Indian economy slows in March quarter, with worst to come

India's economy grew at 3.1% in the January-March quarter, its slowest pace in at least eight years, and the situation is expected to worsen rapidly, putting pressure on the government and central bank for additional stimulus and a rate cut.