Economist

Economist named France as country of the year

MNA Business Desk: The Economist named France as its country of the year on Thursday, saying new President Emmanuel Macron had upset the odds to strike a victory for open societies and reform.

The London-based weekly news magazine said the battle between open and closed visions of society was the most important in the world in 2017 and Macron had defeated the “drawbridge-raisers”.

“In 2017, France defied all expectations,” The Economist said in an editorial in its December 23-January 5 edition.

The centrist Macron’s successful presidential election campaign, without the backing of a traditional party, followed by his start-up Republic on the Move (LREM) movement winning the most seats in the National Assembly, was a “stunning upset”, the magazine said.

“Mr Macron campaigned for a France that is open to people, goods and ideas from abroad, and to social change at home.”

The Economist pointed out that Macron had passed sensible reforms, including loosening France’s rigid labour laws.

“Before he turned up, France looked unreformable-offering voters a choice between sclerosis and xenophobia,” the magazine said.

The Economist said the longlist candidates this year were Bangladesh, for taking in so many Rohingya refugees fleeing neighbouring Myanmar, and Argentina, for enacting painful reforms to restore a sense of fiscal sobriety.

However, the shortlist came down to France and South Korea, which was cleaning up its domestic politics while under the threat of a nuclear apocalypse.

x

Check Also

World

Bangladesh finish Women’s World T20 with defeat

MNA Sports Desk: Bangladesh women’s cricket team finished their Women’s World T20I with all losing ...

Scroll Up