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04.03.2016.

THIS WEEK’S MUST READ NEWS FROM CAPX | NEW DIRECTION

Trump: the monster in the Republican midst

For years, the GOP's grandees have allowed and exploited bigotry within its ranks. Now the party is facing its own Frankenstein's monster. The apoplectic rage against so many aspects of modernity and demographic change has now spilled over into an all-out assault on the very concept of liberal democracy. All we can hope is that the sheer unthinkable, shaming awfulness of a potential Trump presidency will force the US to come to its senses.

China has enjoyed the limelight, now it must experience the spotlight

President Xi Jinping declared in October that all countries need to continuously improve and strengthen human rights protections, yet there is little sign that he is following his own advice. New evidence shows that Beijing is sending agents out of mainland China to target and kidnap pro-democracy activists. Britain now cannot allow its trade relationship with China stop us from speaking out against blatant violations of freedom.

Uber is bringing harmony to discordant Indian streets

Navigating the bedlam that is Kolkata's streets can feel like a death-defying nightmare. The idea of driving in lanes is ignored and usually, if you’re foreign-looking, you’ll find haggling cab drivers down to double the local going rate almost impossible. But thanks to the pre-calculated route fare of the Uber app, the days of paying through the nose for a trip to a destination that may or may not be the one you wanted are over.

Will Argentina be the last of the sovereign creditor crack-ups?  

Argentina has agreed to a $4.65bn payment to its holdout creditors, ending 14 years of bitter legal battles. While the move is politically painful for President Macri, as it will push up inflation and be unpopular with the opposition Congress, it marks the beginning of Argentina's slow return to global credit markets. This podcast explains the ramifications the deal has for sovereign borrowers, including Venezuela who are forecast to default soon.

Angola is recycling guns from its civil war into steel to rebuild the country

Although Angola's civil war ended in 2002, tanks and guns remain strewn across the countryside. A local business has launched the ADA steel mill which uses this debris scrap metal for steel production, aiming for an eventual capacity of half a million tons per year. Not only does this cut steel import costs by $200m in foreign currency reserves, it is also a step in the direction of diversifying Angola's oil-reliant economy.

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