Morning Briefing Global Edition

Livin’ the Munich Life

Some investors are warning of a sudden drop in temperature on the stock market, with a possible Brexit looming and potential political gains by populists and nationalists around Europe and the world. Michael Hartnett, the chief investment strategist at Bank of America, expects a “summer of shock.”

Experienced investors shouldn’t be intimidated by such disaster talk; apocalyptic prophecies are a natural part of the stock market. We optimists are looking forward first to a touch of summer heat before dealing with any shocks that might come our way.

 

In Japan, the G7 summit of world leaders is a globally televised festival of boredom. Angela Merkel put the refugee issue on the agenda, and all she got for her trouble was a promise from Japan to take 150 Syrian students.

This familiar summit dance is wearing thin: The gatherings produce group photo ops, but no results. Perhaps we in the media should not send journalists any more but just a wire photographer.

 

Barack Obama just delivered an historic address in Hiroshima, the first by a U.S. president in the city the U.S. destroyed to end World War II with an atomic bomb. He spoke of how common humanity could make war less likely:  “Ordinary people would rather that the wonders of science be focused on improving life, and not eliminating it. When world leaders reflect on this, the lesson on Hiroshima is done. That is the start of our moral awakening.”

His words were heartfelt, but short of an apology. “Realizing ideals is never easy,” he said. Neither, apparently, is saying you’re sorry.

 

The Russian ambassador to Germany invited Handelsblatt Global Edition’s Editor in Chief Kevin O’Brien to talk about the state of trade and relations with the West. German-Russian commerce has nosedived since 2012, when it surpassed €80 billion before the West imposed its sanctions over Crimea.

Wladimir Grinin said relations at the moment don’t look all that good but Russians, like Americans, believe in a silver lining. He sees the U.S. and Russia working together to solve conflicts in Syria, Ukraine and elsewhere. Sounds like a spring thaw.

 

Which city will be the Athens of Germany 100 years from now? Sorry Berlin, the odds are it’s probably Munich, according to a ranking by Prognos Institute, which evaluated the sustainability of 402 German cities and areas for Handelsblatt.

The poll compared urban factors such as quality of living, the digital environment and the ability of a city to provide jobs and prosperity. Sit down with Handelsblatt Global Edition today for a glimpse of the potential future in our special report.

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