Duncan Weldon, Britain’s economics correspondent for The Economist, dives deep into Germany's political turbulence, exploring how the rise of the Alternative for Germany (AfD) party has intensified anti-immigrant rhetoric and led to mass protests. He also discusses Japan's efforts to reinsert women into the labor market and examines the UK's shift away from coins like the penny, highlighting the socio-economic changes driving this trend. Weldon ties these topics together, revealing how currency and politics intertwine in today's complex landscape.
Germany witnessed a massive protest against growing anti-immigrant sentiment associated with the Alternative for Germany party (AfD).
Japan is making efforts to address societal barriers for women in the workforce, but challenges like balancing work and childcare responsibilities remain.
Deep dives
Growing Anti-Immigrant Sentiment in Germany Sparks Massive Protests
Germany witnessed one of its largest mass demonstrations in recent years, with an estimated 250,000 people taking to the streets to protest against the country's growing anti-immigrant sentiment associated with the right-wing Alternative for Germany party (AfD). The protests were triggered by reports of a secretive meeting held by hard-right politicians in November, discussing the expulsion of millions of immigrants. The demonstrations highlighted widespread concerns about the country's drift towards the far right and rising anti-immigrant sentiment.
Changing Landscape for Working Women in Japan
Japan's labor market is undergoing significant changes, leading to a shift in societal attitudes towards women in the workforce. Historically, many Japanese women left their jobs after marriage and childbirth, but now more women are staying in the workplace due to the country's aging and shrinking labor market. Outdated family laws and cultural pressures on women to prioritize homemaking still discourage married women from working, but policymakers are taking steps to address these issues. However, challenges remain, including the difficulty of balancing work and childcare responsibilities, as well as changing corporate culture and encouraging men to share the burden of domestic work.
The Demise of the Penny in Britain
The humble penny in Britain is losing its value over time, mainly due to inflation and declining cash usage. Recent spikes in inflation and a reassessment of pricing strategies have rendered the penny almost obsolete. Prices have risen over 20% since January 2021, forcing businesses to reprice their products. As a result, charm pricing, which aims to make products seem cheaper by pricing them slightly below a whole number, is becoming less common. Additionally, the cost of producing pennies exceeds their value, leading to a decrease in the minting of pennies. It is likely that the penny will eventually phase out, following the path of the farthing.
The Alternative for Germany (AfD) party represents a growing anti-immigrant rhetoric in the country, but people are taking to the streets in their thousands to fight back. Why has the debate become so polarised? Japan’s ruling party has been trying to get women back into the labour market, and it's working (09:24). And, why the Brits are dropping pennies (15:26).
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