Opinion today: The struggle for Germany

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“We are the people” was Germany’s chant of 1989. Now it has returned as the rallying cry for the increasing number of anti-immigration protesters taking to the street. These times are very different, but there is one crucial similarity with past events: the German protesters are angry with their government and outside forces that are influencing its action. Almost 30 years ago it was the Soviet Union, today it is President Donald Trump’s America.

Gideon Rachman argues in his latest column than the anger on display in Germany reflects a critical shift in the wider international mood. The rise of the populist Alternative for Deutschland party has prompted much anxiety about the resurgence of the far right. In some areas of the country, such as Chemnitz, Gideon says, one-quarter of the population now sympathises with AfD policies. The fight between liberalism and nationalism is being waged internationally, but it can be acutely seen on the streets of Germany.

Robert Shrimsley writes that Theresa May will have to fight if she is to stop Labour's Jeremy Corbyn from winning over the workers.

Lawrence Summers argues that ending quarterly reporting will not end short-term thinking. Demanding less information may favour better-connected investors.

Megan Greene of Manulife Asset Management thinks that central banks are distorting the predictive power of the yield curve.

What you’ve been saying

May’s support of ‘legal land reform’ was a fudge: letter from Geordin Hill-Lewis MP, Cape Town, South Africa

I have hitherto been an admirer of British prime minister Theresa May’s resolve in an unfathomably complex task. However, her whistle-stop visit to South Africa this week, and specifically her equivocation on land expropriation without compensation, was “dis-Maying”. Mrs May’s statement that Britain supports “legal land reform” was a perfidious fudge. After all, land seizures in Venezuela and Zimbabwe were all technically legal once constitutions had been gutted and laws rewritten. We really must be through the looking glass when the leader of the Conservative party offers tacit support for the African National Congress’s undermining of private property rights.

In response to “Amazon’s pricing tactic is a trap for buyers and sellers alike”, covertaction says:

Regulation certainly won’t happen during this administration. So that is a moot point. Until some other administration comes into office American workers can only look to state or city officials for any regulations. Amazon, much like the rest of Silicon Valley, does not have much value for blue collar workers. That doesn’t seem likely to change quickly or easily. Until it does, the right wing, such as Trump etc., exploit the vulnerability.

Sometimes, the problem with the EU is one of too little regulation: letter from Helge Vindenes, Padstow, Cornwall, UK

The recent fight over scallops between British and French fishermen seems a classic example of what is likely to happen when a government authority responsible for regulation fails to live up to its responsibility. […] Final responsibility for the regrettable, but very predictable, events that occurred must therefore lie with the EU. It is all very well for the European Commission to point out that “the scallop fishery is regulated at the national level” and that “common management measures have been agreed between France, the UK and Ireland”. But this is not enough to free the EU from its responsibility to check on the effectiveness of the measures taken by these countries.

Today’s opinion

Theresa May must fight to stop Jeremy Corbyn winning the workers
Voters are signalling that the struggle is on to define a new workplace settlement

Ending quarterly reports will not stop corporate short-termism
Requiring less information would favour better-connected professional investors

How central banks distort the predictive power of the yield curve
Gaps between long- and short-term bonds may flatten for financial not economic reasons

Instant Insight: Leavers and Remainers are uniting to kill a Chequers Brexit
MPs may conclude that the EEA is the safest option if the alternative is a ‘no-deal’ exit

A rebuilt Managua cannot escape its violent past
Brutal protests give young Nicaraguans a painful reminder of their capital’s history

Liberals, nationalists and the struggle for Germany
A surge of populist sentiment is part of a broader shift in international politics

Free Lunch: Lessons for the new socialists
Nordic successes reject neither globalisation nor capitalism

Aston Martin risks its soul among the fun-free luxury brands
The carmaker’s drive into selling dream lifestyles may come with a reputational cost

The challenge for nuclear is to recover its competitive edge The global industry considers its future this week as renewables gain ground

Rich Russians: From Oligarchs to Bourgeoisie, by Elisabeth Schimpfössl
A fresh look at how Russia’s elite sees itself

FT Alphaville: The baroness, the ICO fiasco, and enter Steve Wozniak

FT Alphaville: IQE: lumpy ‘Apple’ sauce at the pricey Cardiff chip shop

FT View

The FT View: Mark Carney is not bigger than the Bank of England
UK government should consider other candidates for its central bank

The FT View: Myanmar must pay for crimes it is committing
The jailing of two reporters is an attempt to halt scrutiny of army atrocities

The Big Read

The Big Read: Quantum computing: the power to think outside the box
With potential uses in healthcare and finance, the technology promises to revolutionise computing