• D.C.
  • BXL
  • Lagos
  • Dubai
  • Beijing
  • SG
  • D.C.
  • BXL
  • Lagos
Semafor Logo
  • Dubai
  • Beijing
  • SG

The Bangladeshi prime minister apparently quits as riots continue, Japan’s stock market nosedives, a͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ 
 
cloudy Dhaka
sunny Southport
cloudy Tokyo
rotating globe
August 5, 2024
semafor

Flagship

newsletter audience icon
Americas Morning Edition
Sign up for our free newsletters
 

The World Today

  1. Bangladesh PM flees
  2. Iran-Israel conflict looms
  3. Japan stocks nosedive
  4. Trump backs EVs
  5. UK PM condemns ‘far right’
  6. Maduro protests threat
  7. China marriages down
  8. Africa’s fake medicines
  9. Refugee wins medal
  10. Riemann breakthrough

The London Review of Substacks, and a recommendation for a book about how disease shaped humanity.

1

Bangladesh PM flees as protests surge

Stringer/Reuters

Protesters stormed the official residence of Bangladesh’s prime minister, who reportedly resigned and fled the country following a renewed surge of protests that left around 100 people dead. The student-led demonstrations had initially erupted over calls for the dismantling of a quota system for government jobs, and morphed into broader protests before a crackdown that involved the arrest of more than 10,000 people and a near-total internet shutdown. As Flagship hit your inbox, Bangladesh’s powerful army chief was set to deliver a speech that had already been delayed by two hours, while the BBC and Dhaka Tribune said that Prime Minister Sheikh Hasina had fled the country for neighboring India.

PostEmail
2

Iran attack on Israel imminent

Demonstrators pray near a mock coffin for Hamas official Ismail Haniyeh during a protest in Beirut. Emilie Madi/Reuters

An Iranian attack on Israel could begin as soon as today, fueling fears of a widening of the Middle East conflict beyond Gaza. Tehran and its Lebanese proxy Hezbollah pledged retribution following the killings of senior Hamas and Hezbollah commanders last week, with Washington reportedly warning G7 allies that it could happen Monday. Analysts believe Iran does not want to trigger an all-out war with Israel, but a miscalculation or overreach — real or perceived — could spur an aggressive response: Unlike Iran’s April assault on Israel, Tehran will likely be joined by Hezbollah and Yemen’s Houthis in a new attack, while the US moved an aircraft carrier group into the Middle East and vowed support for Israel.

PostEmail
3

US recession fears hit stocks

Japan’s stock market nosedived, with Monday morning seeing the worst-ever single-day selloff. The decline — which was followed by sharp falls in Europe — began Thursday, after the Bank of Japan raised rates, but its main driver has been international: Investors are worried about a possible US recession, after a jobs report showed a hiring slowdown and increased unemployment. “The world generally buys Japan when conditions seem upbeat,” the Financial Times’ Asia business editor reported, but flees when things look worse — usually, domestic buyers step in, but the fact that they are not doing so suggests they think that the BoJ moved too quickly in normalizing its monetary policy after decades of cheap money.

PostEmail
4

Trump backs Musk’s EVs

Jonathan Ernst/File Photo/Reuters

Former US President Donald Trump said he had “no choice” but to be in favor of electric vehicles because “Elon [Musk] endorsed me very strongly,” pointing to the shifting political loyalties of the tech sector. Musk is one of several tech leaders to back Trump recently, in the face of what Silicon Valley sees as government attacks on Big Tech. The change shouldn’t be overstated — Democrats still hugely outnumber Republicans in the Valley, and venture capitalists spend twice as much backing the Democrats as Republicans, Vox reported. But some high-profile names, such as Musk and Marc Andreessen, have put their weight behind Trump.

For more on the race for the White House, subscribe to Semafor’s daily US politics newsletter. →

PostEmail
5

UK holds urgent riot meeting

Hollie Adams/Reuters

UK Prime Minister Keir Starmer will hold emergency talks today after days of violent protests that he described as “far-right thuggery.” The demonstrations were sparked by the murder of three young girls in a northwest English town last week, and have included attacks on mosques and hotels housing asylum seekers, in part because initial false reports blamed the murders on a Muslim immigrant. More than 150 people have been arrested. The suspected murderer, a British 17-year-old of Rwandan heritage, is in custody. Starmer’s interior minister told the BBC that “lots of people” have concerns about immigration, “but they don’t pick up bricks and throw them at the police, they don’t try and set light to a hotel.”

PostEmail
6

Venezuela criticism intensifies

Fausto Torrealba/Reuters

Protesters demonstrated across Venezuela over the weekend against President Nicolás Maduro’s much-disputed win in last month’s election. More than 2,000 people have been arrested, with Maduro saying they will face “maximum punishment.” International pressure on Maduro meanwhile intensified, with seven EU countries calling on Caracas to release the electoral tallies, and the presidents of Chile and Brazil — the latter being one of Venezuela’s closest regional allies — meeting today to issue a declaration on the election. Experts believe any possibility of Maduro relenting would nevertheless still rely on continued mass protests domestically. “They thought they would silence us, frighten us and paralyze us… [But] we are going to go all the way,” opposition leader María Corina Machado said.

PostEmail
7

China weddings in decline

The number of couples getting married in China fell to its lowest level in more than a decade, figures that portend a worsening demographic picture for the country. Decreasing numbers of young people overall, a substantial gap in the numbers of men and women because of male-child preference, and poor economic prospects have all driven the falling numbers, which are closely linked to the overall birth rate in China. In fact, the number of children up to the age of four in the country is projected to drop below the overall nationwide pet population, with the ratio of pets to toddlers likely to be two-to-one by 2030, according to Goldman Sachs’ projections.

PostEmail
Global Journalism

We are excited to announce that Semafor will launch in the Middle East this September, marking a major milestone in our global expansion strategy. Launching on Sept 16, Semafor Gulf will feature original reporting and a thrice-weekly newsletter that will examine the region’s transformation, and how its financial, business, and geopolitical decisions shape the world — from culture and investment to infrastructure, climate, and technology. The platform will serve as a fresh, new destination for regional audiences, delivering Semafor’s signature independent, intelligent, and transparent journalism to leaders in the Gulf and around the world.

You can sign up for Semafor Gulf here. →

PostEmail
8

Africa medicines substandard

A fifth of medicines in Africa may be substandard or fake. According to the World Health Organization, antibiotics and antimalarial drugs were the most often falsified in the continent, where as many as 500,000 people die every year from subpar medicines. Despite recent efforts to nearshore medicine and vaccine production to Africa, the vast majority of its countries rely almost entirely on imports, raising the risk that at least one of multiple middlemen in the supply chain may introduce falsified products. “We need to strengthen supply chains across the continent,” an expert told The Guardian.

PostEmail
9

Refugee team wins first medal

Peter Cziborra/Reuters

Cindy Ngamba became the first-ever athlete competing for the Refugee Olympic Team to secure a medal. The Cameroon-born boxer will win at least a bronze medal as she advanced to the women’s 75-kilogram semifinals on Friday. The ROT — created to highlight the plight of refugees across the world — first participated in the Olympic Games in 2016, when 10 athletes took part under its name. In this year’s edition, 37 competed for the team, which many believe will continue to grow as international migration is forecast to increase. “I want to say to all the refugees around the world... keep on working hard, keep on believing in yourself,” Ngamba said after her win.

PostEmail
10

Riemann hypothesis breakthrough

Bernhard Riemann. Wikimedia Commons

Mathematicians made a breakthrough on a 165-year-old problem considered perhaps the most important unsolved conjecture in math. The Riemann hypothesis predicts that only an input of 0.5 to a particular mathematical function will return a zero. If true, it would tell us about how prime numbers are distributed among very big numbers, which would be important for cryptography and cybersecurity. No one knows how to prove the hypothesis, but mathematicians have slowly limited the possible exceptions. The latest finding severely limits where primes can be found, and “that can be as good as the Riemann hypothesis itself,” one academic told Quanta.

PostEmail
Flagging
  • Turkey’s foreign minister meets with his Egyptian counterpart during a visit to Cairo.
  • Closing arguments are due to take place in New York in the trial of Mozambique’s former finance minister in a fraud case.
  • Cambodia officially breaks ground on a controversial new canal that aims to connect the Mekong River directly with the Gulf of Thailand.
PostEmail
LRS

Ringing the bell

“To students of technological progress, Bell Labs is a giant.” So notes Brian Potter in Construction Physics, pointing to a dizzying array of technological breakthroughs from AT&T’s research arm, and an astonishing number of Nobel and Turing prizes awarded to its scientists. Perhaps not surprisingly, then, policymakers, writers, and executives often discuss the possibility of establishing a contemporary equivalent. “Unfortunately,” Potter warns, “the conditions that made Bell Labs so successful were highly historically contingent and not the sort of thing that could be deliberately recreated.”

It was, for one, part of a huge, government-sanctioned monopoly, giving it a long-term outlook and a sprawling list of credible research interests that few R&D departments can avail of today. The latter point — a wide array of experts in varying fields — became self-reinforcing, because those scientists could collaborate across disciplines. Plainly, it was also lucky. Yet, Potter argues, “the world that Bell Labs thrived in no longer exists.” It was, he continues, “not only… a product of unique historical circumstances, but unique technological circumstances.”

Out of the shadows

Among Indonesia’s most culturally significant performances is wayang kulit, a form of shadow puppetry in which figures are cut from raw buffalo hide and which can last for upwards of eight hours. That, in itself, is perhaps unremarkable: Plenty of countries have their own form of storytelling, each with their own idiosyncrasies. Yet Indonesia’s is unusual not only in that wayang kulit recounts the Mahabharata and Ramayana, two Hindu epics, in a majority Muslim nation — but that wayang kulit is repeatedly used by Muslim political parties and organizations to further their own goals and narratives.

As the journalist Pallavi Aiyar notes, wayang kulit is believed to have been used by Islamic scholars who first began spreading Islam on the island of Java, now part of modern-day Indonesia, as well as by Christian missionaries, along with the country’s independence hero Sukarno and the military dictator Suharto. Even now, huge crowds often attend: “To put this in perspective,” Aiyar writes, “one must imagine thousands of folk in England showing up to listen to an eight-hour long rendition of a Homeric epic in ancient Greek.” Wayang kulit is, she concludes, “the most tangible manifestation of Indonesia’s pluralism.”

Any way you slice it

Sliced bread has long existed, but its mechanization and increased scale in the 20th century increased its prevalence: Even in diverse cities like London today, “for every miche, roti, baozi, challah, injera, flatbread and focaccia, there are at least as many loaves of plain white,” Isaac Rangaswami writes in Vittles. As a result, sliced, white bread can seem plain, boring, mainstream. Yet that need not be so.

Rangaswami explores the multitude of ways London’s restaurants and bakeries manipulate white bread beyond simply making sandwiches: from fried slices at classic “greasy spoons” like E Pellicci to bread pakoras at Gujarati restaurants; kaya toast at Southeast Asian joints to prawn toast at Chinese takeaways; Welsh rarebit at upscale eateries to bread and butter pudding at the iconic Regency Cafe — a favorite of Flagship’s Prashant. All of them, Rangaswami writes, “are the very definition of making something out of nothing.”

PostEmail
Semafor Recommends

Pathogenesis: How Germs Made History, by Jonathan Kennedy. The Shakespeare & Company bookstore in Paris lists this account of how microbes and viruses shaped human development among its “coups de coeur” — strikes to the heart, or favorites. Nature called it “vivid and engaging” and “insightful.” Buy it from Shakespeare & Company or from your local bookstore.

PostEmail
Hot on Semafor
PostEmail