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boundary="3So3HGaW9t5C=_?:" This is a multi-part message in MIME format. --3So3HGaW9t5C=_?: Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: 8bit The Economist ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ https://click.e.economist.com/?qs=3a871ee926bc0312db6b94a17d128203f54c4cad65481d9e005dbf85466c4914f4c0c6da0c148eef720f11f57b1cecc5de760102ab01c0a2cb2eb5efb22db375 https://view.e.economist.com/?qs=2bf7a6668cb8705b33b8b3f5952a22151be86bbad0f3699ad7ba8de6591200dca541be4d92086ecb1a2d8ebc25985498d99da36c1fdf26d7cfb3bc1cb53127e695ae78234aebd7be1a6212b9e98493e4 Read in browser January 21st 2025 The Economist today The best of our journalism, handpicked each day https://click.e.economist.com/?qs=3a871ee926bc0312151c52ab77b419507d6300c4205c79a85a092f9bfb6aaa5e1c0f839f84aa460b69f25fb1b00be86218513b5f7c89174e40fd77ce0cddf9a7 https://click.e.economist.com/?qs=3a871ee926bc03128d569d86110e69d153c2549983086863fb1c64557c33a03171a82f4b1233f80655938ce65631d8a5be87b5e4c9f69945c1f6f50afb424bcd https://click.e.economist.com/?qs=3a871ee926bc03128d569d86110e69d153c2549983086863fb1c64557c33a03171a82f4b1233f80655938ce65631d8a5be87b5e4c9f69945c1f6f50afb424bcd Patrick Lane Senior digital editor Donald Trump&rsquo;s second term has begun, as expected, with a flurry of executive orders (notably, setting a https://click.e.economist.com/?qs=3a871ee926bc031298f6ddddb9aeec8fff4a40a3d868168aa8dc9f95891920220bddd0ddd3d36e5eb54472f2f05b7970dff49c9c77e8eae6292644bedac6cd0c hard line on immigration ). Yesterday his https://click.e.economist.com/?qs=3a871ee926bc0312035ffb6ef05241e889202f9e044f522b137e1546ada16dbf408068b6a2b3a0ef8b8d243e264b10fcfee990045bfc5e4c14006d246fab3c10 inaugural address harked back almost 130 years, to William McKinley, a president who also loved https://click.e.economist.com/?qs=3a871ee926bc031208f89b687038503647f2031209c758171b277edccfa50e450bcd2ed6819b333bf9d5084248889220863818e337f956e6c5c4c2d48d7fe722 tariffs and oversaw territorial expansion&mdash;and courted (and was courted by) America&rsquo;s richest men. Away from politics, https://click.e.economist.com/?qs=3a871ee926bc0312079dac8d3edbde6fd74bbd45337d86d3f9919449a4b8560877afdf486a43b070905e5be7b11408342a1c4c42481f149db6ac058beaecb3df we report on how OpenAI&rsquo;s latest generative artificial-intelligence model, which yields better results the more &ldquo;thinking&rdquo; it does, is changing the economics of the digital economy. https://click.e.economist.com/?qs=3a871ee926bc0312296a9c48c25126c8f40df74ba9aa725d38360f2132d7dfb011034a79ea99997f9a1057521bf58457e67875d086132db44f7f1aa4da933513 https://click.e.economist.com/?qs=3a871ee926bc0312296a9c48c25126c8f40df74ba9aa725d38360f2132d7dfb011034a79ea99997f9a1057521bf58457e67875d086132db44f7f1aa4da933513 https://click.e.economist.com/?qs=3a871ee926bc0312296a9c48c25126c8f40df74ba9aa725d38360f2132d7dfb011034a79ea99997f9a1057521bf58457e67875d086132db44f7f1aa4da933513 From the gilded age to the golden age https://click.e.economist.com/?qs=3a871ee926bc0312296a9c48c25126c8f40df74ba9aa725d38360f2132d7dfb011034a79ea99997f9a1057521bf58457e67875d086132db44f7f1aa4da933513 The new American imperialism https://click.e.economist.com/?qs=3a871ee926bc0312296a9c48c25126c8f40df74ba9aa725d38360f2132d7dfb011034a79ea99997f9a1057521bf58457e67875d086132db44f7f1aa4da933513 Donald Trump is the first president in more than 100 years to call for new American territory&mdash;including Mars Related &rarr; https://click.e.economist.com/?qs=3a871ee926bc0312366785570d8700aeb35e15d95a09030484c017556bbcaa3bc7d430ad5be4f93c60dfc1063ba9a9a890970535d95d43f95f847781527901bd Tracking the first 100 days of Trump&rsquo;s second term https://click.e.economist.com/?qs=3a871ee926bc03120017f4d67186b7a19aca820f35958c62cfa0bc5d5ad49f99d5053bbabc40db993551d8dea2cfbd3dbc5f3e4a1651c90a8810a878168980b1 https://click.e.economist.com/?qs=3a871ee926bc03120017f4d67186b7a19aca820f35958c62cfa0bc5d5ad49f99d5053bbabc40db993551d8dea2cfbd3dbc5f3e4a1651c90a8810a878168980b1 https://click.e.economist.com/?qs=3a871ee926bc03120017f4d67186b7a19aca820f35958c62cfa0bc5d5ad49f99d5053bbabc40db993551d8dea2cfbd3dbc5f3e4a1651c90a8810a878168980b1 The president&rsquo;s phoney war https://click.e.economist.com/?qs=3a871ee926bc03120017f4d67186b7a19aca820f35958c62cfa0bc5d5ad49f99d5053bbabc40db993551d8dea2cfbd3dbc5f3e4a1651c90a8810a878168980b1 Donald Trump cries &ldquo;invasion&rdquo; to justify an immigration crackdown https://click.e.economist.com/?qs=3a871ee926bc03120017f4d67186b7a19aca820f35958c62cfa0bc5d5ad49f99d5053bbabc40db993551d8dea2cfbd3dbc5f3e4a1651c90a8810a878168980b1 His first immigration executive orders range from benign to belligerent Go beyond the headlines Subscribe for unlimited access to The Economist https://click.e.economist.com/?qs=3a871ee926bc0312e04605b06a85624bcd7fa201626f0ce42940ac213974a10c3837f1f0b3f9da762fe65897d64102230f09e72bede54594edc646af79ed8214 Subscribe https://click.e.economist.com/?qs=3a871ee926bc03123cbac4eca0eefd6989f37991442c9254dd4c265e71cb869f258f914432c65b3704766e373bdd88e2aad7aba09dd6c5296315c9d0c1f65520 https://click.e.economist.com/?qs=3a871ee926bc03123cbac4eca0eefd6989f37991442c9254dd4c265e71cb869f258f914432c65b3704766e373bdd88e2aad7aba09dd6c5296315c9d0c1f65520 https://click.e.economist.com/?qs=3a871ee926bc03123cbac4eca0eefd6989f37991442c9254dd4c265e71cb869f258f914432c65b3704766e373bdd88e2aad7aba09dd6c5296315c9d0c1f65520 Marginal revolution https://click.e.economist.com/?qs=3a871ee926bc03123cbac4eca0eefd6989f37991442c9254dd4c265e71cb869f258f914432c65b3704766e373bdd88e2aad7aba09dd6c5296315c9d0c1f65520 OpenAI&rsquo;s latest model will change the economics of software https://click.e.economist.com/?qs=3a871ee926bc03123cbac4eca0eefd6989f37991442c9254dd4c265e71cb869f258f914432c65b3704766e373bdd88e2aad7aba09dd6c5296315c9d0c1f65520 The more reasoning it does, the more computer power it uses https://click.e.economist.com/?qs=3a871ee926bc03126584ed57c3c86eb9b8fc558e1f10f88c3a10c37b1b8c0ce7f866c57f85bbae5d7e35a18bbc59de16d1ae47e81a6b0314585b2f3d65ff5fb6 https://click.e.economist.com/?qs=3a871ee926bc03126584ed57c3c86eb9b8fc558e1f10f88c3a10c37b1b8c0ce7f866c57f85bbae5d7e35a18bbc59de16d1ae47e81a6b0314585b2f3d65ff5fb6 https://click.e.economist.com/?qs=3a871ee926bc03126584ed57c3c86eb9b8fc558e1f10f88c3a10c37b1b8c0ce7f866c57f85bbae5d7e35a18bbc59de16d1ae47e81a6b0314585b2f3d65ff5fb6 Trudeau? Hardly knew him https://click.e.economist.com/?qs=3a871ee926bc03126584ed57c3c86eb9b8fc558e1f10f88c3a10c37b1b8c0ce7f866c57f85bbae5d7e35a18bbc59de16d1ae47e81a6b0314585b2f3d65ff5fb6 The race to lead Canada&rsquo;s Liberal Party hinges on handling Trump https://click.e.economist.com/?qs=3a871ee926bc03126584ed57c3c86eb9b8fc558e1f10f88c3a10c37b1b8c0ce7f866c57f85bbae5d7e35a18bbc59de16d1ae47e81a6b0314585b2f3d65ff5fb6 Mark Carney and Chrystia Freeland are the frontrunners https://click.e.economist.com/?qs=3a871ee926bc031259e14e29f42d9a2c0ae260eb5f5952371cd57fabbc59d972aaff4e2ced9d1b3c5c9def166d09cff25137cd17d821b8fb0c130e01530ab228 https://click.e.economist.com/?qs=3a871ee926bc031259e14e29f42d9a2c0ae260eb5f5952371cd57fabbc59d972aaff4e2ced9d1b3c5c9def166d09cff25137cd17d821b8fb0c130e01530ab228 https://click.e.economist.com/?qs=3a871ee926bc031259e14e29f42d9a2c0ae260eb5f5952371cd57fabbc59d972aaff4e2ced9d1b3c5c9def166d09cff25137cd17d821b8fb0c130e01530ab228 Turkey in Syria https://click.e.economist.com/?qs=3a871ee926bc031259e14e29f42d9a2c0ae260eb5f5952371cd57fabbc59d972aaff4e2ced9d1b3c5c9def166d09cff25137cd17d821b8fb0c130e01530ab228 Turkey is determined to expand its influence in the new Syria https://click.e.economist.com/?qs=3a871ee926bc031259e14e29f42d9a2c0ae260eb5f5952371cd57fabbc59d972aaff4e2ced9d1b3c5c9def166d09cff25137cd17d821b8fb0c130e01530ab228 That could cause tensions with the Arab world&mdash;and Israel Related &rarr; https://click.e.economist.com/?qs=3a871ee926bc0312c1f152cae2998a2e130bb29610af6950ad44f358258b6a143651733b584256832e0c0742a28dcc9af289a2b874cf52a577fbb2a6ad5b02dd A short history of Syria, in maps https://click.e.economist.com/?qs=3a871ee926bc031244e721ef54bb9a51f0119ec997107c72a891fae99c64f2f068207ed7caff77d050f42a06d3e4425ea69da7dcbba4799c973296761692e161 https://click.e.economist.com/?qs=3a871ee926bc031246e5bbb4408bf9510c6321496a26d751ea75d3af760b4a25ef3bea844ef5ce96f62731200fd9e0cfab2c6f078b7efbc91bc6701bf9e14b0d https://click.e.economist.com/?qs=3a871ee926bc031246e5bbb4408bf9510c6321496a26d751ea75d3af760b4a25ef3bea844ef5ce96f62731200fd9e0cfab2c6f078b7efbc91bc6701bf9e14b0d https://click.e.economist.com/?qs=3a871ee926bc031246e5bbb4408bf9510c6321496a26d751ea75d3af760b4a25ef3bea844ef5ce96f62731200fd9e0cfab2c6f078b7efbc91bc6701bf9e14b0d Banyan https://click.e.economist.com/?qs=3a871ee926bc031246e5bbb4408bf9510c6321496a26d751ea75d3af760b4a25ef3bea844ef5ce96f62731200fd9e0cfab2c6f078b7efbc91bc6701bf9e14b0d Can Donald Trump maintain Joe Biden&rsquo;s network of Asian alliances? https://click.e.economist.com/?qs=3a871ee926bc031246e5bbb4408bf9510c6321496a26d751ea75d3af760b4a25ef3bea844ef5ce96f62731200fd9e0cfab2c6f078b7efbc91bc6701bf9e14b0d Discipline and creativity will help, but so will China&rsquo;s actions https://click.e.economist.com/?qs=3a871ee926bc03123c96ef5c8d62fd07309577c09f2e79fe6aea0c3ca46b3a7a2206ac1c8ae61aae4d91a697d4ad489047dfc96dcba65deccc4e62df33d8b1aa https://click.e.economist.com/?qs=3a871ee926bc03123c96ef5c8d62fd07309577c09f2e79fe6aea0c3ca46b3a7a2206ac1c8ae61aae4d91a697d4ad489047dfc96dcba65deccc4e62df33d8b1aa https://click.e.economist.com/?qs=3a871ee926bc03123c96ef5c8d62fd07309577c09f2e79fe6aea0c3ca46b3a7a2206ac1c8ae61aae4d91a697d4ad489047dfc96dcba65deccc4e62df33d8b1aa Il Duce&rsquo;s message https://click.e.economist.com/?qs=3a871ee926bc03123c96ef5c8d62fd07309577c09f2e79fe6aea0c3ca46b3a7a2206ac1c8ae61aae4d91a697d4ad489047dfc96dcba65deccc4e62df33d8b1aa A TV dramatisation of Mussolini&rsquo;s life inflames Italy https://click.e.economist.com/?qs=3a871ee926bc03123c96ef5c8d62fd07309577c09f2e79fe6aea0c3ca46b3a7a2206ac1c8ae61aae4d91a697d4ad489047dfc96dcba65deccc4e62df33d8b1aa With Giorgia Meloni in power, the fascist past is more relevant than ever https://click.e.economist.com/?qs=3a871ee926bc03125d5dab0b6847a5f9020c5dc53c2c5b9430cca55b21c6472a2a8fbac9d6ab907f9bb4f6104c0f99cabd553c08ab1306264e50828839eb05c6 https://click.e.economist.com/?qs=3a871ee926bc03125d5dab0b6847a5f9020c5dc53c2c5b9430cca55b21c6472a2a8fbac9d6ab907f9bb4f6104c0f99cabd553c08ab1306264e50828839eb05c6 https://click.e.economist.com/?qs=3a871ee926bc03125d5dab0b6847a5f9020c5dc53c2c5b9430cca55b21c6472a2a8fbac9d6ab907f9bb4f6104c0f99cabd553c08ab1306264e50828839eb05c6 Moving the needle https://click.e.economist.com/?qs=3a871ee926bc03125d5dab0b6847a5f9020c5dc53c2c5b9430cca55b21c6472a2a8fbac9d6ab907f9bb4f6104c0f99cabd553c08ab1306264e50828839eb05c6 How to improve clinical trials https://click.e.economist.com/?qs=3a871ee926bc03125d5dab0b6847a5f9020c5dc53c2c5b9430cca55b21c6472a2a8fbac9d6ab907f9bb4f6104c0f99cabd553c08ab1306264e50828839eb05c6 Involving more participants can lead to new medical insights https://click.e.economist.com/?qs=3a871ee926bc0312493a59dd9e798ce3053b28b55e8d0048ff4bc7f6e711d18b1e6427bf771f271e6f633525a2bb5fe4dc0279112309c0e3a89dab068806eba2 https://click.e.economist.com/?qs=3a871ee926bc0312493a59dd9e798ce3053b28b55e8d0048ff4bc7f6e711d18b1e6427bf771f271e6f633525a2bb5fe4dc0279112309c0e3a89dab068806eba2 https://click.e.economist.com/?qs=3a871ee926bc0312493a59dd9e798ce3053b28b55e8d0048ff4bc7f6e711d18b1e6427bf771f271e6f633525a2bb5fe4dc0279112309c0e3a89dab068806eba2 61-0 https://click.e.economist.com/?qs=3a871ee926bc0312493a59dd9e798ce3053b28b55e8d0048ff4bc7f6e711d18b1e6427bf771f271e6f633525a2bb5fe4dc0279112309c0e3a89dab068806eba2 Is Arkadag the world&rsquo;s greatest football team? https://click.e.economist.com/?qs=3a871ee926bc0312493a59dd9e798ce3053b28b55e8d0048ff4bc7f6e711d18b1e6427bf771f271e6f633525a2bb5fe4dc0279112309c0e3a89dab068806eba2 What could possibly explain the success of a club founded by Turkmenistan&rsquo;s dictator Podcast https://click.e.economist.com/?qs=3a871ee926bc0312bb99acd34803a44dd29208a2c35217f93a972f61c76f10c3d3f652f91ac6c5cda633cbc7a71150451f522f7d67d2f1e9dffc210e1b24aacf https://click.e.economist.com/?qs=3a871ee926bc0312bb99acd34803a44dd29208a2c35217f93a972f61c76f10c3d3f652f91ac6c5cda633cbc7a71150451f522f7d67d2f1e9dffc210e1b24aacf https://click.e.economist.com/?qs=3a871ee926bc0312bb99acd34803a44dd29208a2c35217f93a972f61c76f10c3d3f652f91ac6c5cda633cbc7a71150451f522f7d67d2f1e9dffc210e1b24aacf The Intelligence https://click.e.economist.com/?qs=3a871ee926bc0312bb99acd34803a44dd29208a2c35217f93a972f61c76f10c3d3f652f91ac6c5cda633cbc7a71150451f522f7d67d2f1e9dffc210e1b24aacf Examining what was said and what was signed on Trump&rsquo;s day one https://click.e.economist.com/?qs=3a871ee926bc0312bb99acd34803a44dd29208a2c35217f93a972f61c76f10c3d3f652f91ac6c5cda633cbc7a71150451f522f7d67d2f1e9dffc210e1b24aacf Also on the daily podcast: why young people are so into pricey &ldquo;plushies&rdquo; Figure of the day 25%, the share of the global population living in cities of over a million people, up from 15% six decades ago. https://click.e.economist.com/?qs=3a871ee926bc0312f128722a1c3749cb82344ca3dc01c7df0d9353c6024a2f284ceba8acf6658383d54123c040d47b9b1e743fb55cc86ed1faebc93947a47e67 Read the full story . Most read by subscribers &rarr; https://click.e.economist.com/?qs=3a871ee926bc0312369fdaa070dfa3007c7f3cf467874bf76aed844478ed1d58e679de86ac2bb3d460b9ae8f907097f67ad59142dd95740a8e463f6cbacafe71 Why people over the age of 55 are the new problem generation &rarr; https://click.e.economist.com/?qs=3a871ee926bc03124f791508e8b0b487c3ff2818c44fc4b0f09f790b33157dabadb91ee1477e8b85687cbef1bbcc5eb0757dd72ad2873a920af61341a2a47494 The beginning of the end of the Trump era &rarr; https://click.e.economist.com/?qs=3a871ee926bc03128fa9ed364597fc2a470dc7c3d4c0c5c370d401d0cc211190aebdaf7e8a2b6d43ec584f23a763ea51eef9e4423e443b0f047c56b9862281e8 Donald Trump will upend 80 years of American foreign policy &rarr; https://click.e.economist.com/?qs=3a871ee926bc0312437e69ed80fe7eb29af0eb975c05431816ce6fb474371846b6b319853dcc44d931e6faac384cb015ddfbe02754cbf75a7505b0fcf51331ca Why elite MBA graduates are struggling to find jobs A message from Economist Impact https://click.e.economist.com/?qs=3a871ee926bc03125f7b0e7fff5023b3fa75ba63cc7cca090c71976796369362a2c60911575fb3f1044301e4301c8e3010027b3f021deb75405b91575b93ad38 https://click.e.economist.com/?qs=3a871ee926bc03125f7b0e7fff5023b3fa75ba63cc7cca090c71976796369362a2c60911575fb3f1044301e4301c8e3010027b3f021deb75405b91575b93ad38 Better planet, better business https://click.e.economist.com/?qs=3a871ee926bc03125f7b0e7fff5023b3fa75ba63cc7cca090c71976796369362a2c60911575fb3f1044301e4301c8e3010027b3f021deb75405b91575b93ad38 Accelerate your sustainability strategy to reduce carbon emissions towards net-zero. Attend the 10th annual Sustainability Week on March 10th-12th in London. https://click.e.economist.com/?qs=3a871ee926bc03125f7b0e7fff5023b3fa75ba63cc7cca090c71976796369362a2c60911575fb3f1044301e4301c8e3010027b3f021deb75405b91575b93ad38 Register Learn about https://click.e.economist.com/?qs=3a871ee926bc031239198b64204f86afe5c8dcf7d6fb90a0b5dfa692e39b9b8b0bf0d0f4f52e07328c10b18c974590d6864a2af1b92ceb567f9e3fe10f92ec32 Economist Impact https://click.e.economist.com/?qs=3a871ee926bc031239198b64204f86afe5c8dcf7d6fb90a0b5dfa692e39b9b8b0bf0d0f4f52e07328c10b18c974590d6864a2af1b92ceb567f9e3fe10f92ec32 Was this email forwarded to you? Sign up https://click.e.economist.com/?qs=3a871ee926bc0312a021a8a7c2b140511f50254ca8feba3c92a13a400019d68a706a1510e70caae9b54c6ba06ef409b028493b03bc56c13e5d0ecd1bc62d65d8 here . This email has been sent to: info@harmonyinnovationhub.com . 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} } </style> </head> <!-- / Header styling --> <body id="body" bgcolor="#f2f2f2" style="width:100% !important; margin:0 auto; padding:0; background-color:#f2f2f2;"><style type="text/css"> div.preheader { display: none !important; } </style> <div class="preheader" style="font-size: 1px; display: none !important;">Also: OpenAI’s latest model will change the economics of software</div> <div style="display:none;"> <img src="https://click.e.economist.com/open.aspx?ffcb10-fe9c16707062077e75-fe2315777162017e7c1479-fe8d13727c650c7976-ff6415717c-fe2e167076630075751479-fefc157975640d&d=70245&bmt=0" width="1" height="1" alt=""> </div> <!-- Preheader spacer --> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!--[if !mso]><!--> <div style="max-height:0; overflow:hidden; mso-hide:all;" aria-hidden="true">&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; &nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;‌&nbsp;&nbsp;‌&nbsp;‌&nbsp; </div> <!--<![endif]--></td></tr></table> <!-- / Preheader spacer --> <!--Ads AMPSCRIPT --> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><table role="presentation" style="min-width: 100%; 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" class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BLANK SPACE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 16px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> </tr></table></td></tr></table><!-- //BLANK SPACE --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BYLINE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td align="left" style="padding:0 16px 16px 16px;" valign="top"> <table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation"> <tr> <td style="vertical-align:middle; padding:0 16px 0 0;" valign="middle" width="67"> <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc031273bcab12947eed71b13c029af759ec7648e7bdc1cab5e29007cf462d97a75bc2815b363f14eff9c4b7e1fc0511552004c1b3fadb1ca07b26" title=""><img alt="" data-assetid="223039" src="https://image.e.economist.com/lib/fe8d13727c650c7976/m/6/cbbbd178-b311-4d3f-8630-9ec08e286a90.jpg" style="border-radius: 50%; display: block; padding: 0px; height: auto; width: 100%; text-align: center; border: 0px none transparent;" width="67"></a></td><td class="serifLF" style="vertical-align:middle; font-family:EconomistSerifLF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left;" valign="middle"> <p style="margin:0;"> <b><a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312c6a19eea8dd20dbfc1c0df3d527ab97f22b0d02e5e7f7eb80746c12abeb5cfeb43e59ebd1561c54f8e2d957ba772a078c3063ab0710d7e83" style="color:#000000;text-decoration:none;" title="Patrick Lane">Patrick Lane</a></b><br> Senior digital editor</p></td></tr></table></td></tr></table><!-- //BYLINE --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="background-color: transparent; min-width: 100%; " class="stylingblock-content-wrapper"><tr><td style="padding: 0px; " class="stylingblock-content-wrapper camarker-inner"><!-- FULL-WIDTH CONTENT --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 0px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td style="padding:0 0 1px 0; font-family:EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left;" valign="top"> </td><td class="article-text" style="padding: 0px 0px 1px; font-family: EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size: 18px; line-height: 25px; text-align: left;" valign="top"> <p> Donald Trump&rsquo;s second term has begun, as expected, with a flurry of executive orders (notably, setting a <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312ec3155728e75a01f8dc65687528291c8ea38cda449b06a20116bcfd17ed6168b408e22c55914c5c855f26cfad759d0d07f7510da4a4bbbc3" style="text-decoration:none;" title="hard line on immigration">hard line on immigration</a>). Yesterday his <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312c0cfc486e0d9b99112a79f8c7fab82692f2582196c6b22b24be9ff5dcf49574e1cb7480e54bdb60b71e6b334f3f053331ff0798a0c961d8a" style="text-decoration:none;" title="inaugural address">inaugural address</a> harked back almost 130 years, to William McKinley, a president who also loved <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc03120b10a37c533fd30ebeb2b3eb71f29eec4da83dbae9e4005b690390b9c94ccd252bd69c1a52d4f92db6574edac826f3a556a8642a64f3a219" style="text-decoration:none;" title="tariffs">tariffs</a> and oversaw territorial expansion&mdash;and courted (and was courted by) America&rsquo;s richest men.<br> <br> Away from politics, <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312a749551cbf77019274d9122c7b18f3c074e148b252bce5047fbf0382dd2b1fd87d0c047ca7ebfef0715834d171e3901fc90de8ebdca9d9b0" style="text-decoration:none;" title="we report">we report</a> on how OpenAI&rsquo;s latest generative artificial-intelligence model, which yields better results the more &ldquo;thinking&rdquo; it does, is changing the economics of the digital economy.</p></td></tr></table></td></tr></table><!-- //FULL-WIDTH CONTENT --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BLANK SPACE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 16px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> </tr></table></td></tr></table><!-- //BLANK SPACE --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- ARTICLES (3) --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 8px 16px 8px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td class="pb8" style="padding:0 0 16px 0; font-size:0; text-align:center;" valign="top"> <!--[if mso]> <table width="584" align="center" cellspacing="0" cellpadding="0" border="0" role="presentation" style="width:584px;"> <tr> <td width="292" align="left" valign="top" style="width:292px;"> <![endif]--><div class="fluid" style="display:inline-block; width:100%; min-width:100%; max-width:292px; vertical-align:top;"> <p> </p><table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> </table></div><!--[if mso]> </td> </tr> </table> <![endif]--></td></tr><tr> </tr><tr> <!--[if mso]> <table width="584" align="center" cellspacing="0" cellpadding="0" border="0" role="presentation" style="width:584px;"> <tr> <!--[if mso]> </td> </tr> </table> <![endif]--></tr><tr> <td align="center" style="padding:0 8px 8px 8px;" valign="top"> <hr style="width:100%; max-width:568px; height:1px; margin:0; background-color:#d7d7d7; color:#d7d7d7; border-width:0;"> </td></tr></table></td></tr></table><!-- //ARTICLES (3) --></td></tr></table> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BLANK SPACE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 16px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> </tr></table></td></tr></table><!-- //BLANK SPACE --></td></tr></table> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- ARTICLE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 16px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td style="padding:0 0 12px 0;" valign="top"> <a data-linkto="other" href="https://click.e.economist.com/?qs=3a871ee926bc03123349faa4b2aef06d0bd4ec8355d4ef80bc908cea97f38a5e4bedeef012db5c8aa397e00201df4bba816487dc2bbfe7e74c03d30689d6abd3" target="_blank" title=""><img alt="" src="https://www.economist.com/img/b/650/600/80/www.economist.com/media-assets/image/20250125_USP503.jpg" style="display: block; 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Hardly knew him</a></p></td></tr><tr> <td class="h2 serifLF" style="padding:0 0 8px 0; font-family:EconomistSerifLF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:23px; font-weight:bold; color:#121212; line-height:28px; text-align:left;" valign="top"> <p style="margin:0;"> <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312c81f01e4f28bd1ac1355a05d51c9c8e672353af9c789b3e47e757e5fcea759e594edc311e600ba9b1d5ca54eb462d5f6c4d271aaebbd200c" style="color:#121212;text-decoration:none;" target="_blank" title="">The race to lead Canada&rsquo;s Liberal Party hinges on handling Trump</a></p></td></tr><tr> <td class="pb32" style="padding:0 0 32px 0; font-family:EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left; border-bottom:1px solid #d7d7d7;" valign="top"> <p style="margin:0;"> <a data-linkto="other" href="https://click.e.economist.com/?qs=3a871ee926bc0312c81f01e4f28bd1ac1355a05d51c9c8e672353af9c789b3e47e757e5fcea759e594edc311e600ba9b1d5ca54eb462d5f6c4d271aaebbd200c" style="color:#000000;text-decoration:none;" title="">Mark Carney and Chrystia Freeland are the frontrunners</a></p></td></tr></table></td></tr></table><!-- //ARTICLE --></td></tr></table> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; 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font-size:23px; font-weight:bold; color:#121212; line-height:28px; text-align:left;" valign="top"> <p style="margin:0;"> <a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc03121a1bc1504b69149f7c8983eb5ea4cb2e1af595be6253a1807ce5d6b003556f253aa39941e21238ae681c89da55ad747be4cfc14086db1338" style="color:#121212;text-decoration:none;" target="_blank" title="">Examining what was said and what was signed on Trump&rsquo;s day one</a></p></td></tr><tr> <td class="pb32" style="padding:0 0 32px 0; font-family:EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left; border-bottom:1px solid #d7d7d7;" valign="top"> <p style="margin:0;"> <a data-linkto="other" href="https://click.e.economist.com/?qs=3a871ee926bc03121a1bc1504b69149f7c8983eb5ea4cb2e1af595be6253a1807ce5d6b003556f253aa39941e21238ae681c89da55ad747be4cfc14086db1338" style="color:#000000;text-decoration:none;" title="">Also on the daily podcast: why young people are so into pricey &ldquo;plushies&rdquo;</a></p></td></tr></table></td></tr></table><!-- //ARTICLE --></td></tr></table> <table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BLANK SPACE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 40px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> </tr></table></td></tr></table><!-- //BLANK SPACE --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- SECTION HEADING --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 16px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td style="padding:4px 0 0 0; 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font-family:EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left;" valign="top"> </td><td class="article-text" style="padding:0 0 1px 0; font-family:EconomistSerifOsF, Georgia, TimesNewRoman, Times New Roman, Times, serif; font-size:18px; color:#121212; line-height:25px; text-align:left;" valign="top"> <b>25%</b>, the share of the global population living in cities of over a million people, up from 15% six decades ago.&nbsp;<a data-linkto="https://" href="https://click.e.economist.com/?qs=3a871ee926bc0312544feffd05a192a78c63c03a469195e8d539cc33b372fe2bc1444333cd6c827d8b4636e5318f2d36136aee47eb26bd25eafe8fe71b18ea7c" style="text-decoration:none;" title="Read the full story">Read the full story</a>.</td></tr></table></td></tr></table><!-- //FULL-WIDTH CONTENT --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="min-width: 100%; " class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- BLANK SPACE --><table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 16px 24px 16px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> </tr></table></td></tr></table><!-- //BLANK SPACE --></td></tr></table><table cellpadding="0" cellspacing="0" width="100%" role="presentation" style="background-color: transparent; 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" class="stylingblock-content-wrapper"><tr><td class="stylingblock-content-wrapper camarker-inner"><!-- ARTICLES (3) --><table align="center" bgcolor="#EFF5F5" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td class="serifLF" style="padding:16px 16px 16px 16px; font-family:25px; font-size:18px; font-weight:700; color:#121212; line-height:25px; text-align:left; font-family:EconomistSerifLF, Georgia, TimesNewRoman, Times New Roman, Times, serif;" valign="top"> <p style="margin:0;"> A message from Economist Impact</p></td></tr></table><table align="center" bgcolor="#EFF5F5" border="0" cellpadding="0" cellspacing="0" role="presentation" style="max-width:600px;" width="100%"> <tr> <td style="padding:0 8px 0px 8px;" valign="top"> <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td class="pb8" style="padding:0 0 16px 0; font-size:0; text-align:center;" valign="top"> <!--[if mso]> <table width="584" align="center" cellspacing="0" cellpadding="0" border="0" role="presentation" style="width:584px;"> <tr> <td width="292" align="left" valign="top" style="width:292px;"> <![endif]--><div class="fluid" style="display:inline-block; width:100%; min-width:100%; max-width:292px; vertical-align:top;"> <table align="left" border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td class="pb8-16" style="padding:0 8px 8px 8px;" valign="top"> <a data-linkto="https://" href="https://click.e.economist.com/u/?qs=3a871ee926bc0312422b8c650542c8fb5989587b8ff0e8dc3b70814a6e41875207f7eb2dd9e158685ca73547f09358a8967d93f374bf996a55684e35f6d2d153" target="_blank" title="Economist Impact"><img alt="Economist Impact" data-assetid="343999" src="https://image.e.economist.com/lib/fe8d13727c650c7976/m/1/d88b920d-95a8-4233-b7b1-fe69e3eec0c3.jpg" style="display: block; width: 100%; min-width: 100%; max-width: 276px; height: auto; padding: 0px; text-align: center; border: none;" width="276"></a></td></tr></table></div><!--[if mso]></td><td width="292" align="right" valign="top" style="width:292px;"><![endif]--><div class="fluid" style="display:inline-block; width:100%; min-width:100%; max-width:292px; vertical-align:top;"> <table align="right" border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%"> <tr> <td class="serifLF" style="padding:0 8px 8px 8px; 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