Big-claims court: Donald Trump’s latest indictment
Aug 2, 2023
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Daniel Franklin, The Economist's deputy US editor, analyzes Donald Trump's latest legal setbacks, including serious indictments related to the 2020 election, and their impact on his campaign. Simon Cox, the China economics editor, discusses China's lackluster post-pandemic recovery, grappling with youth unemployment and declining exports. The podcast also delves into the underground piano trade in Iran, revealing how sanctions have led to fascinating black market dynamics in the luxury goods sector.
Donald Trump faces serious charges related to his claims of winning the 2020 election, which could affect his campaign and political future.
China's post-pandemic economic recovery is facing challenges, with declining factory activity, stuttering growth, and the risk of deflation.
Deep dives
Trump faces grave charges in historic federal indictment
Former American president Donald Trump has been indicted on charges of conspiring to defraud the United States, conspiring to disenfranchise voters, and conspiring and attempting to obstruct an official proceeding. The indictment accuses Trump of seeking to overturn the democratic process in America and is considered the most significant charge he is facing. Despite the serious charges, Trump retains support among Republican voters and remains a top contender for the party's presidential nomination.
China's economic recovery falls short of expectations
China's economic recovery, following its reopening from the pandemic, is not going as well as expected. Factory activity has declined for four consecutive months, growth is stuttering, and China is now facing the risk of deflation. The Communist Party has acknowledged the economic difficulties and promised measures to boost growth, including making shopping easier and cheaper. However, it remains uncertain whether these measures will be sufficient to address the challenges and revive the economy.
Piano smuggling into Iran highlights contraband trade
Contraband trade, including the smuggling of luxury and unnecessary goods, is a significant issue in Iran due to restrictions imposed by customs officials. The podcast focuses on a smuggler named Hassan, who operates by moving pianos from East Asia to Iran. Despite the ban on pianos and other items, the illicit trade continues to thrive, highlighting the challenges that the authorities face in controlling smuggling activities and addressing broader economic issues, such as the balance of payments crisis and currency shortage.
The former American president is facing a new set of unprecedented legal challenges linked to his claims that he won the 2020 election. These charges are perhaps the most serious ones yet, but how will they affect his campaign? A closer look at China’s economic figures suggest that their post-pandemic recovery has been more modest than expected (09:49). And, sneaking pianos into Iran (17:59).
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