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arl Albrecht, who was famously secretive, only spoke publicly about Aldi’s business model on one occasion – in 1953. Its fundamental principles, he said, were “narrow product range and low price, [which] cannot be separated

Lacking capital, they stocked only a tight range of staples, such as pasta and soap, planning to widen the offering later. But they soon realised that offering a limited selection of cheap, fast-selling goods kept their costs down and the cash flowing, which they could use to invest in new stores. As the former Aldi executive Dieter Brandes and his son Nils wrote in “Bare Essentials”, their book about the company: “Basically, a completely new business model was created along the lines of a discovery in the natural sciences: by accident.”

in 1961, when they had 300 stores, they chose to split Aldi, short for Albrecht Discount, into two parts. The “Aldi equator” ran through Essen, with Theo taking the part of Germany to the north, and Karl the south. Aldi North and Aldi South shared all information, except profits, and conducted some supplier negotiations jointly, but were otherwise run separately, with their stores carrying different product ranges and featuring differently coloured floors – one yellow and one grey.

Theo continued to put in long hours at the office, managing even the smallest details in his quest to save money. He wore pencils down to the nubs and turned off the light when entering an office if he judged that his staff could see well enough without it. He once told his board to look at the thickness of the paper used for photocopies. Outside consultants and media interviews were banned, considered unnecessary expenditures or distractions. Asceticism was a virtue in life and business, he believed. “People live more on what they do not eat,” he once said. He wanted Aldi to be a place where “people who don’t hate their money can safely go shopping”

In their book “Bare Essentials”, Dieter and Nils Brandes argued that Aldi’s embrace of kaizen, its lean management structure and just-in-time approach to inventory – taking delivery of stock only when needed, to cut holding costs – made it the “most Japanese” company in Germany.

1976, Aldi South, Karl’s company, opened the first Aldi store on the east coast of the US. Three years later, in 1979, Theo’s Aldi North purchased Trader Joe’s, a California chain that sells cheap gourmet foods and enjoys a cult-like following. (The US is still the only foreign market where both Aldis operate.)

Second, the main chains – the big four as well as the leading “soft” discounter Kwik Save (which stocked a larger range than Aldi) – were listed on the stock exchange. The best way to fight Aldi early on is to slash prices, but few bosses of public companies are happy to accept lower profits, and thus lower bonuses, by pursuing long-term strategies

Fourth, and most importantly, the UK is, by global standards, a high-wage economy. This means that labour costs make up a big part of a supermarket’s operating expenses. Here, discounters have a major competitive advantage, because their business model – stocking a small range of products, eschewing delicatessens and promotions, and so on – allows them to operate with fewer, more productive, staff. (The most important performance measure in any Aldi branch is revenue divided by employee hours.)

Paying well obviously helps attract and retain staff, who might otherwise go to chains where the pace of work is slower. But it also serves to drive up wages across the industry, which, because of Aldi’s lower overall employee costs, hurts its competitors more.

As a private company, with no shareholders other than Karl Albrecht’s family to answer to, it could afford to be patient. “Aldi is very attuned to going into a country, making the investment, and building slowly and steadily,” said Richard Hyman, the retail expert. “Most other companies don’t have a 30-year view – or even a five-year view.”

By the time the supermarkets awoke to the structural shift that had occurred in the industry, the damage was done. “The big four bosses were not just sleeping at the wheel,” said Black. “They were comatose.”

“Ten years ago we had 900 lines, now we have 1,800,” said Neale. “That’s not because we are trying to become a big-four retailer, it’s because consumer tastes have evolved. We are managing the equilibrium between what customers want and costs.”

As the large supermarkets have realised, it is very hard to make money from internet sales because the profit margin on groceries is small and the delivery costs are so high – but now they can’t reverse course without losing customers. Andy Clarke, the former boss of Asda, told the Sunday Times last year that if the big four supermarkets had their time again “they wouldn’t have offered home deliveries, full stop”. “Online groceries are a cost drain,” Neale said. “Why should 90% of customers subsidise the 10% who get free home delivery?”

All supermarkets have their own private labels: made not by them, but for them, by manufacturers who agree to put their merchandise in a bag or box with the grocer’s logo on it. But Aldi takes this to extremes: more than 90% of the products it sells, from shaving cream to dark chocolate and frozen pizza, are private labels

Stocking mostly own-label goods allows the company to order huge quantities of a single item, to its own specifications, at a low unit cost.

Aldi’s entire ketchup order comes from one manufacturer that can operate the same, unchanging product run, all the time, and has no marketing costs to build into the price. “For many SKUs we are the biggest buyer by a country mile,” Neale said.

Among UK suppliers, who have often been treated badly by the big supermarkets, with their pressure for back margin fees and slow payment terms, Aldi has a good reputation

in 2010, following the death of Theo, which it said brought to an end “the story of the most eccentric, secretive and mysterious pair of siblings in Germany’s post-war economic history”. Karl died four years later, the richest man in Germany with a net worth of $25bn. (Second on the list was Dieter Schwarz, the Lidl owner, followed by Theo’s heirs.)

In 2017, Aldi South’s revenues reached €52bn, with about 20% of that from the UK and Ireland. In Ireland, Aldi has 12% of the market, and in Australia 13%, behind Woolworths and Coles. Its share in the US is only 2% – but Aldi plans to raise its number of outlets from 1,800 to 2,500 by 2022, which would make it the third-biggest chain in the US by store count, after Walmart and Kroger

In the UK there is still plenty of room to grow. Aldi hopes to have 1,000 shops in three years, up from just over 800 today. Dave McCarthy, a retail analyst at HSBC, said that given Aldi and Lidl’s expansion plans, their share of the market could peak at more than 20%.

“We have an outstanding mayor, who is committed to tackling climate change. She said the 15-minute city will be the backbone for creating a new urban plan. The last time Paris had a new urban plan was in 2000, so this road map will be relevant for the next 10 or 15 years at least,”

“I said to Hidalgo, the 15-minute city is not an urban traffic plan. The 15-minute city is a radical change of our life.”

He also thinks office should generally be closer to homes, as well as cultural venues, doctors, shops and other amenities. Shared spaces such as parks help the people living in the areas to form communities.

They have also often been segmented into wealthier and poorer areas; in the less prosperous area to the north-east of Paris, Moreno says up to 40% of homes are social housing. In the wealthier west of Paris, this drops below 5%.

“My idea is to break this triple segregation,” he says.

Moreno thinks this segregation leads to a poorer quality of life, one designed around outdated “masculine desires”, so his proposal is to mix this up, creating housing developments with a mixture of social, affordable and more expensive housing so different social strata can intermingle

He also wants to bring schools and children’s areas closer to work and home, so caregivers can more easily travel around and participate in societ

When many modern cities were designed, they were for men to work in. Their wives and family stayed in the suburbs, while the workers drove in. So they have been designed around the car, and segmented into different districts: the financial district (think Canary Wharf), the cultural area (for example, the West End) and then the suburbs

The city has also been regenerating the Clichy-Batignolles district in the less prosperous north-west of Paris to have a green, village-like feel. About a quarter of it is taken up by green space and a new park.“As a 15-minute district, it is incredible,” says Moreno. “It is beautiful, it has proximity, social mixing, 50% of the inhabitants live in social housing, 25% in middle class and 25% own their homes.”

Many of his proposals are dear to the culture of the French. In a large, wealthy metropolis such as Paris, it is easy for small shops to be choked out by large chains. The city of Paris, in its new plan, has put measures in to stop this.

“We have a commercial subsidiary of the city of Paris which has put €200m into managing retail areas in the city with rates below the speculative real estate market. This is specifically to rent to small shops, artisans, bakeries, bookstores.

This is not only a good investment because it creates a good economic model, but it keeps the culture of the city of Paris,”

This is in keeping with the 15-minute city plan as it keeps local shops close to housing, so people can stroll down from their apartment to pick up a fresh baguette from an independent baker. “It creates a more vibrant neighbourhood,” he adds.

Hidalgo inevitably faced a large backlash from the motorist lobby. Stroll down the banks of the Seine today in the new protected parks and outdoor bars, and it is hard to imagine that it was recently a traffic-choked highway

“The drivers were radically very noisy, saying that we wanted to attack their individual rights, their freedom. The motorist lobby said she cannot be elected without our support, that they are very powerful in France,” Moreno says. But Hidalgo called their bluff: “She often says ‘I was elected two times, with the opposition of the automotive lobby’. In 2024, nobody requests to open again the highway on the Seine, no one wants the Seine urban park to be open for cars.”

Moreno talks about the concept of a “giant metronome of the city” which causes people to rush around. He wants to slow this down, to allow people to reclaim their “useful time” back from commuting and travelling to shops and cultural areas.

“I bet for the next year, for the next decade, we will have this new transformation of corporation real estate,” he says. “Businesses are choosing multi-use areas with housing, schools, shops for their office space now. The time of the skyscrapers in the masculine design is finished.”

I do not see them fleeing in large numbers.”

premiums are set to rise an average of 25 percent next year. The selection of health plans on the exchanges is also shrinking.

Customers bolting the exchanges won’t necessarily avoid the rising premiums by shopping “off-marketplace.”

The big downside to shopping off the exchanges is that customers would not receive insurance subsidies. But for customers who wouldn’t qualify for subsidies anyway, shopping off the exchanges potentially gives them more options – including, in some cases, cheaper plans.

a total of 6.9 million people are getting insurance in the individual market outside the exchanges.

about 11.1 million people are enrolled in ObamaCare exchange plans, with 9.4 million of them getting premium subsidies.

HHS report seemed to be nudging people back toward the exchanges, noting that roughly a third of those avoiding the exchanges potentially could qualify for subsidies.

“millions of them may qualify for financial assistance that would let them purchase coverage and health care at lower cost” if they returned to the ObamaCare fold.

millions of them may qualify for financial assistance that would let them purchase coverage and health care at lower cost” if they returned to the ObamaCare fold.

Both marketplaces, for example, require covering individuals with pre-existing conditions.

The estimated number of insurance providers available on the exchanges for next year is 167, a net decrease of 68.

The decline in choice alone could result in more consumers leaving, even if they have to pay higher costs outside the market, in order to keep their doctor.

The HHS study noted that some of the 6.9 million shopping off-market also could qualify for Medicaid programs, which were expanded in many states.

Just for 2016, we know rates are going up in exchange plans,

But consumer-protection laws like the one in question only eke out marginal victories against the broader retail situation that Amazon inaugurated. The products available to purchase in the first place still feel arbitrary, as do their changing prices, their seemingly inconsistent availability and shipping times, the reliability of their arrival (thanks in part to Amazon Flex, the company’s gig-economy delivery service), and not to mention whether you actually get the product you ordered.

But there’s a reason that we used to have shoe stores, hardware stores, grocery stores, bookstores, and all the rest: Those specialized retail spaces allow products, and the people with knowledge about them, to engage in specialized ways of finding, choosing, and purchasing them. On Amazon, everything gets treated the same.

The problem with an Everything Store is that there’s no way to organize everything effectively. The result is basically a giant digital flea market. Amazon is so big, and so heterogenous, that the whole shopping experience is saturated with caprice and uncertainty. It’s not that Dash purchases alone might produce a result different from the one the buyer intended, but that every purchase might do so.

“Traditionally we kept our shopping separate from our living from our recreation,” said Amanda Nicholson, a professor of retail practice at Syracuse University. “That’s not what the world wants anymore. Malls need to be more creative about getting people outside their homes — it can’t just be stores, stores and more stores."

These days, the most successful malls tend to be dominated by brands that appeal to higher earners, like Nordstrom, Apple and Lululemon, as well as up-and-comers like Untuckit and Peloton. They also tend to have invested heavily in restaurants, spas and specialty gyms that keep customers coming back, week after week, even if they’re doing more of their shopping online, Saunders said.

“Everybody talks about the future of retail and the future of entertainment, and how you merge the two,” Don Ghermezian, president of Triple Five Group, said last month. “There really isn’t a center on the planet that has done it to the degree that we’ve done in here.”

The nation’s first shopping center opened in Edina, Minn., in 1956. Renowned architect Frank Lloyd Wright was unimpressed, as it had “all the evils of the village street and none of its charm.

“There was an explosion of one-level malls with four anchor stores, a dreary food court and a carousel in the middle,” said Nicholson of Syracuse. “Developers realized they could put a large, flat building in the middle of a field and quickly make money — so for decades, in the ’60s, ’70s and ’80s, that’s what they did.

London’s luxury retailers are lobbying the U.K. government to reinstate VAT-free shopping for visitors. Big department stores like Harrods, owned by Qatar’s sovereign wealth fund, and Selfridges, which was sold for £4 billion in 2021 to Thai and Australian investors, relied heavily on tourist spending before the pandemic.

If overseas visitors continue to shop in Europe instead of Britain, landlords on the U.K. capital’s poshest streets could suffer. In 2022, London’s New Bond Street slipped out of the top-three ranking of the world’s most expensive retail streets, according to real estate firm Cushman & Wakefield. It was overtaken by Via Montenapoleone in Milan, where rents are now 9% above 2019 levels.

“It was obvious that a negotiated solution was not a possibility,” Ms. Vestager said in the phone interview. “So I felt we should go in another direction.”

That direction was filing formal charges, called a statement of objection, accusing Google of favoring its own comparison shopping service, called Google Shopping. In practical terms, the commission found that when a consumer used Google to search for shopping-related information, the site systematically displayed the company’s own comparison product at the top of the search results — “irrespective of whether it is the most relevant response to the query,” Ms. Vestager said in a commission-issued statement about the charges.

In addition to the formal complaint related to Google Shopping, Ms. Vestager said her office was still looking into accusations that Google had restricted its advertising partners from using rival platforms and that it scraped online content from competitors. She also announced a separate “in-depth investigation” into accusations of anticompetitive company practices regarding Google’s relationships with device manufacturers that rely on its Android operating system.

Longtime observers of Ms. Vestager theorized that she had chosen to initially pursue a narrow case in which she had the most confidence, while keeping pressure on her adversary to settle by opening parallel lines of inquiry.

“It’s about power. Any deal she makes, it’s about how much power she has and how much power her adversary has,” says Martin Krasnik, the host of a late-night current affairs show on Danish national television who describes Ms. Vestager as the most impenetrable politician he has ever interviewed.

For years, observers have wondered if Amazon’s shopping business — you know, its main business — could ever really work. Investors gave Mr. Bezos enormous leeway to spend billions building out a distribution-center infrastructure, but it remained a semi-open question if the scale and pace of investments would ever pay off. Could this company ever make a whole lot of money selling so much for so little?

Amazon’s retail operations had reached a “critical scale” or an “inflection point.” They meant that Amazon’s enormous investments in infrastructure and logistics have begun to pay off. The company keeps capturing a larger slice of American and even international purchases. It keeps attracting more users to its Prime fast-shipping subscription program, and, albeit slowly, it is beginning to scratch out higher profits from shoppers.

Now that Amazon has hit this point, it’s difficult to see how any other retailer could catch up anytime soon. I recently asked a couple of Silicon Valley venture capitalists who have previously made huge investments in e-commerce whether they were keen to spend any more in the sector. They weren’t, citing Amazon.

“The truth is they’re building a really insurmountable infrastructure that I don’t see how others can really deal with,”

Amazon also faces a wider set of competitive threats internationally. Although it has reported increasingly brisk sales in India, the company has had a difficult time breaking into the lucrative Chinese market, where Alibaba dominates the shopping scene

Walmart, which on Tuesday published earnings that came in slightly above analysts’ expectations, is also spending billions to slow Amazon’s roll. But Walmart said that in its latest quarter, e-commerce sales had grown only 10 percent from a year ago. Amazon’s retail sales rose 20 percent during the same period.

What has been key to this rise, and missing from many of his competitors’ efforts, is patience. In a very old-fashioned manner, one that is far out of step with a corporate world in which milestones are measured every three months, Amazon has been willing to build its empire methodically and at great cost over almost two decades, despite skepticism from many sectors of the business world.

Amazon has built more than 100 warehouses from which to package and ship goods, and it hasn’t really slowed its pace in establishing more. Because the warehouses speed up Amazon’s shipping, encouraging more shopping, the costs of these centers is becoming an ever-smaller fraction of Amazon’s operations.

Amazon’s investments in Prime, the $99-a-year service that offers free two-day shipping, are also paying off. Last year Mr. Bezos told me that people were increasingly signing up for Prime for the company’s media offerings

Mr. Schachter, of Macquarie Securities, estimates that there will be at least 40 million Prime subscribers by the end of this year, and perhaps as many as 60 million, up from an estimated 30 million at the beginning of 2015

he predicted that by 2020, 50 percent of American households will have joined Prime, “and that’s very conservative,” he said.

its operating margin on the North American retail business was 3.5 percent, while Amazon Web Services’s margin was 25 percent.

“retail gross profit dollars per customer” — a fancy way of measuring how much Amazon makes from each shopper — has accelerated in each of the last four quarters, in part because of Prime. Amazon keeps winning “a larger share of customers’ wallets,” the firm said, eventually “leading to a period of sustained, rising profitability.”

“The thing about retail is, the consumer has near-perfect information,” said Paul Vogel, an analyst at Barclays. “So what’s the differentiator at this point? It’s selection. It’s service. It’s convenience. It’s how easy it is to use their interface. And Amazon’s got all this stuff already. How do you compete with that? I don’t know, man. It’s really hard.

Socially, the booming fast fashion industry is often built on low wages paid to women working in factories abroad but also increasingly in the UK

In the UK, we buy more clothes per person than any other country in Europe – five times what we bought in the 1980s, which creates 1.3m tonnes of waste each year, some 350,000 tonnes of which is dumped in landfill or incinerated.

Yet despite the overwhelming evidence gathered by the environmental audit committee (EAC), ministers this week rejected every recommendation for tackling abuses across the fashion industry, including a ban on incinerating or landfilling stock that can be recycled and a 1p charge on each garment to raise £35m a year for better clothing collection and sorting, a move supported by many in the industry.

But the response of the government was met with anger by many within the industry, where ethical fashion firms come up against others who produce at lower costs on the back of exploitative wage structures and environmentally damaging production models

“It is a vastly damaging industry that has been spiralling unchecked for far too long. The Earth and the people on it are exploited and damaged at every single step of the chain, and this culminates with unimaginable mountains of unused excess stock or badly made broken waste clothing with nowhere to go other than landfill or incineration.”

But others are less sure that voluntary measures will tackle what they say is a systemic power imbalance between brands and manufacturers, which leads to worker exploitation, or address the enormous environmental footprint of their trade.

Commit to wearing every piece 30 times. If we doubled the amount of time we kept clothes for, we would cut our fashion emissions by 44%.

“So who is accountable for water and chemical pollution abroad, precarious work and employment, the undercutting of compliant manufacturers, the pollution from delivery and lack of recycling at home? Brands might find it difficult to make £5 fast fashion dresses and be socially and environmentally sustainable.

Ways to take the environmental heat out of your fashion habit

“The fundamental problem with much of fast fashion is that its social and environmental costs are not taken into account. The environmental costs of materials and fabric are mostly offshored. The production that takes place in the UK often only pays half the legal minimum wage.

Get smart about fibres. Cheap cotton and synthetics come with huge environmental footprints. Cotton uses unsustainable amounts of water and pesticide. Go for hemp blended with organic cotton and silk and lyocel/modal.

Treat cotton as a luxury fibre. Buy products certified as organic to be free of the pesticide burden and plan to keep them for years.

Wash clothes less often. The average laundry cycle releases hundreds of thousands of tiny fragments of plastic from synthetic fibres into waterways. Put jeans in the freezer and remove dirt when frozen. Fleeces have been shown to release the most plastic fibres

Delete shopping apps from your phone and swear off insta-shopping for fashion. Go shopping for clothes in a shop.

f dry cleaning is a must, use an eco-friendly process: conventional dry cleaning harms the soil, air and wate

“We want to show the Chinese Communist Party that Hong Kong people can be economically self-sufficient through the yellow economic circle,” Mr. Liu said. “We want to put pressure on blue shops to close.”

months of unrest, along with the trade war between the United States and China, have battered Hong Kong’s economy, which entered recession last year.

As tempers have flared, businesses on both sides of the color divide have been attacked.

The battle has gone online, too. Ken Leung helped create WhatsGap, a popular app in Hong Kong that maps businesses that are considered yellow, helping them draw customers.

ate which products the big-box chains stock.

But these stores exercise an outsize impact, she said, as they di

more than any restaurant, cookbook or online video, Asian grocers are driving this shift.

April 2023 to April 2024, sales of items in the “Asian/ethnic aisle” in U.S. grocery stores grew nearly four times more than overall sales

Miso, ghee, turmeric, soy sauce — their journeys to becoming widely available pantry staples all began with an Asian grocer.

H Mart is attracting the clientele of the big grocers, too. Thirty percent of its shoppers today are non Asian, Mr. Kwon said, and he’s made changes to continue drawing them

placing more emphasis on in-store tastings, explaining how ingredients are used and posting signs in both Korean and English. Similarly, at 99 Ranch, the announcements ring out in Mandarin and English, and Western music has been added to the store playlists.

Swetal Patel, a partner at Patel Brothers, said that as the chain has expanded its audience — he estimates that 20 to 25 percent of shoppers are now non South Asian

“I find it fascinating that there are things on the shelf that I have no idea what they are,” said Jill Connors, an economic development director for the city of Dubuque, Iowa, who started shopping at Hornbill Asian Market earlier this year because she and her husband became vegan and wanted high-quality tofu at a reasonable price.

The sheer variety of foods to explore “brings more joy to the shopping and cooking process,”

The laws, in this view, make for a decent society. They give structure to everyday life. They infuse everyday acts with spiritual significance. They build community. They regulate desires. They moderate religious zeal, making religion an everyday practical reality.

At first piano practice seems like drudgery, like self-limitation, but mastering the technique gives you the freedom to play well and create new songs. Life is less a journey than it is mastering a discipline or craft.

there are still obligations that precede choice. For example, a young person in mainstream America can choose to marry or not. In Orthodox society, young adults have an obligation to marry and perpetuate the covenant and it is a source of deep sadness when they cannot.

“Marriage is about love, but it is not first and foremost about love,” Soloveichik says. “First and foremost, marriage is about continuity and transmission.”

There are two kinds of shoppers, says Brett Gordon, a professor at Columbia Business School. There's the bargain-hunter and the clock-watcher. If the first walks into a store without a bargain, she leaves. But the second customer isn't looking for markdowns. She's looking at her watch. She just wants what she wants, and fast, coupons or no.

In Seattle, New York, and the United Kingdom, the firm has set up automated “lockers” in drug stores and convenience stores. If you order something from Amazon and you work near one of these lockers, the company will offer to drop off your item there. On your way home from work, you can just stop by Rite Aid, punch in a security code, and get your stuff.

I’m a frequent Amazon shopper, and over the last few months I’ve noticed a significant improvement in its shipping times. As a subscriber to Amazon’s Prime subscription service, I’m used to getting two-day shipping on most items for free. But on about a third of my purchases, my package arrives after just one day for no extra charge. Sometimes the service is so speedy it seems almost magical. One Friday afternoon last month, I ordered three smoke alarms, and I debated paying extra for shipping so that I could install them over the weekend. The $9 per item that Amazon charges for Saturday delivery seemed too steep, though, so I went with standard two-day service. The next morning, the delivery guy arrived with my smoke detectors. I’d gotten next-day Saturday service for free

I suspect that, over the next few years, next-day service will become its default shipping method on most of its items. Meanwhile it will offer same-day service as a cheap upgrade. For $5 extra, you can have that laptop waiting for you when you get home from work. Wouldn’t you take that deal?

Order something in the morning and get it later in the day, without doing anything else. Why would you ever shop anywhere else?

Extramarital affairs have become more and more widespread and are no longer a cause for shame. It is commonplace for successful men to keep a mistress, or sometimes multiple mistresses – which people often jokingly compare to a teapot needing at least four or five cups to make a full tea set.

In China today, Buddhist temples are crowded with worshippers, while Taoist temples are largely deserted. A few years ago, I asked a Taoist abbot: “Taoism is native to China, so why is it not as popular as Buddhism, which came here from abroad?” His answer was short: “Buddhism has money and Taoism doesn’t.”

In recent years, for instance, many retired military veterans have gathered together across the country in protests against the stingy benefits and pensions they receive from the state. Back in the 1980s, they argue, veterans used to be more generously rewarded, relative to the cost of living. Today, even though China is richer, they receive little

the fierce economic competition that now characterises life in China. In numerous industries, it has become common practice to try to secure more business by pushing down prices as low as they can possibly go

The result of all this ferocious competition is that the profit margin keeps getting slimmer and slimmer, and those who suffer most are ordinary workers, who often see no increase in their salary even as their work hours are extended.

Someone reported to me an exchange he had had with one of Shanghai’s ultra-rich, a man who had relied on bribery and other underhand methods to transform himself from a pauper into a millionaire.

Even Chinese beggars have to keep up with the times: sometimes they too have a QR code handy, and they will ask passersby to scan it and use the mobile payment platform to dispense some spare change.

This novelty is all the more remarkable given that just 30 years ago, when Chinese people went on business trips, they would worry so much about their money being stolen that they would hide cash in their underpants, the safest place for it.

Urbanisation has created a lot of problems, one of them being what happens after farmers move to cities. Local governments have expropriated large swathes of agricultural land to enable an enormous urban expansion program

After their land and houses in the countryside are expropriated, farmers “move upstairs” into housing blocks that the local government has provided in compensation. In wealthy counties, some farmers may be awarded up to three or four apartments, in which case they will live in one and rent out the other two or three; others may receive a large cash settlement.

how do they adjust to city life? Now disconnected from the form of labour to which they were accustomed, what new jobs are there for them to do? Some drive taxis and some open little shops, but others just loaf around, playing mahjong all day, and others take to gambling and lose everything they have

Mao’s monthly salary, for example, was just 404.8 yuan, compared to my parents’ joint income of 120 yuan. There was only a small gap between rich and poor, and social inequalities were limited.

in the space of just a few years, Alibaba’s Alipay mobile app and Tencent’s WeChat Pay app have been loaded on to practically every smartphone in the country. From big shopping malls to little corner shops – any place where a transaction can be made will have the scannable QR codes for these two payment platforms displayed in a prominent location.

How he wished he could be one of those workers, he said, for though their work was hard and their pay was low, they didn’t have to live in a state of such high anxiety. Faced with the prospect of losing everything they have gained, such people find themselves wishing their spectacular career hadn’t happened at all, wishing they could reclaim the past.

let me try to capture the changing outlook of three generations of Chinese boys as a way of mapping in simple terms China’s trajectory over the years. If you asked these boys what to look for in life, I think you would hear very different answers. A boy growing up in the Cultural Revolution might well have said: “Revolution and struggle.” A boy growing up in the early 1990s, as economic reforms entered their second decade, might well have said: “Career and love.” Today’s boy might well say: “Money and girls.”

The global-manufacturing apparatus now has the capacity to churn out near-endless stuff. The industry’s output has ballooned 75 percent since 2007 to $35 trillion, according to one analysis, and millions of livelihoods depend on its continued growth.

Research has consistently held that people who are presented with a few options make better, easier decisions than those presented with many. It has also shown that having many options is particularly confounding when the information available on them is limited or confusing

n the arms race to sell as many sandwich bags or beach towels as possible, a problem has become clear: Variety isn’t infinitely valuable.

Contemporary internet shopping conjures a perfect storm of choice anxiety

. The internet-shopping boom has spawned an excess-stuff economy, in which retailers such as Overstock.com buy up extra product from full-price retailers

Those infinite, meaningless options can result in something like a consumer fugue state

Helping consumers figure out what to buy amid an endless sea of choice online has become a cottage industry unto itself

choice fatigue is one reason so many people gravitate toward lifestyle influencers on Instagram—the relentlessly chic young moms and perpetually vacationing 20-somethings—who present an aspirational worldview, and then recommend the products and services that help achieve it

Review videos, too, are popular on YouTube, and plenty of niche websites perform similar functions for products that serve a particular interest, such as hiking or photography

. Casper (mattresses), Glossier (makeup), Away (suitcases), and many others have sprouted up to offer consumers freedom from choice: The companies have a few aesthetically pleasing and supposedly highly functional options, usually at mid-range prices. They’re selling nice things, but maybe more importantly, they’re selling a confidence in those things

They have a strong precedent for believing that their type of extreme curation is what consumers want: Trader Joe’s sells many times fewer products than most of its suburban grocery-store competitors, but still tops consumers’ rankings of their favorite places to grocery shop.

stuff’s creators tend to focus their energy on those who already have plenty. As options have expanded for people with disposable income, the opportunity to buy even basic things such as fresh food or quality diapers has contracted for much of America’s lower classes.

Meanwhile in western Germany, the Schuerener Backparadies bakery has added two different coronavirus-themed creations to its selection.

A nod to the well-documented toilet paper shortage that's occurred across the world as consumers frantically buy up huge quantities, the marble cakes are wrapped in white fondant etched with tiny diamond shapes in the style of quilted toilet roll.

Like France, and many countries around the world, Germany has imposed extensive restrictions and many non-essential businesses have been forced to close.

Over in the US, a New York doughnut shop has dedicated its latest offering to infectious disease expert Dr. Anthony Fauci, a member of President Donald Trump's coronavirus task force who's won the public over with his straight-talking approach.

According to Semeraro, the shop has sold thousands of the buttercream-frosted doughnut, which features Fauci's face printed on edible paper, with customers asking for the treat to be sent to various cities and states.

Perhaps the most frightening of this year’s many apocalyptic books is The Uninhabitable Earth by David Wallace-Wells. Its chapter titles read: Heat Death. Hunger. Drowning. Dying Oceans. Unbreathable Air. Wildfire. Plagues. Economic Collapse. Climate Conflict. It’s intended to be a forecast of the planet’s near future that will shock readers out of their complacency. But during the 2010s almost all the disasters that the book names have already started to happen.

As one of the New Optimists’ favourite sources, the website Our World in Data, had to admit this year: “In some aspects the data suggests the world is getting worse.”

the awareness that much of modern life – air travel, car travel, eating meat, shopping, using plastics – has malign consequences has grown from a minority preoccupation in the 1970s into an everyday topic.

Sometimes in the 2010s, it has felt as if the whole world we have made, from the tiniest exhaust particle to the most sprawling conurbation, is toxic.

Nowadays, the fear is almost universal. The creation of social media networks over the last decade and a half, starting with Twitter in 2006, and the conversion of traditional media into non-stop news services, have made awful events seem relentless and impossible to ignore. We have become perpetually anxious.

“It is what it is.” Usually, it means: “I’m learning to live with something negative” – a personal setback, a wider injustice, difficult circumstances. It’s a mantra for an age of diminishing expectations, when many people no longer assume – unlike their postwar predecessors – that they will become richer than their parents, and live in an ever more sophisticated or just society, on an ever more hospitable planet

When people say “It is what it is”, they are rarely challenged. Instead, they are usually heard in respectful silence. In a difficult world, fatalism and stoicism are useful qualities.

Another coping mechanism is escape. Possibly the most revealing leisure activity of the 2010s is shutting yourself away with a TV series: typically a drama set in another country or another era, with an addictive, slowly resolved plot, many characters, elaborate settings, and enough episodes to allow for watching in binges. In an age of squeezed incomes, TV dramas are worlds you can explore on the cheap.

During the decade, it became cooler than usual in Britain to eat comforting things: bread, cakes, pies, even grilled cheese sandwiches. The Great British Bake Off, first broadcast in 2010, made cooking with lots of carbs and sugar respectable again

Clothes have become more cocooning: enormous puffer jackets, scarves the size of small blankets, fleeces and woolly hats. In the 2000s, clothes and silhouettes were leaner and more formal – tight suits, skinny trousers – as if people expected to seize exciting new opportunities, or at least to work in offices. In the 2010s, social mobility has stalled, and many of the jobs being created – and often taken by middle-class graduates – involve zero-hours contracts and outdoor work

In a working world that requires quick switches between inactivity and activity, that values powers of endurance, caffeine is a vital drug. In many British town and city centres during the 2010s, otherwise emptied out by online commerce, cafes proliferated, replacing shops and pubs as the busiest indoor spaces.

Another way to cope with the 2010s has been to work obsessively on yourself. From the 1950s to the 1990s, being young in the west was often associated with lounging around, or rebelling, or living for the moment. But in the 2010s being young often means relentlessly working and studying, polishing your public persona, and keeping fit

Yoga, marathons, triathlons – it’s not hard to see their renewed popularity over the last decade as an effort by people, conscious or otherwise, to hone themselves for a tougher world.

this self-optimisation can be measured, and compared with the efforts of others, as never before. This process has created a new hierarchy, particularly within the American middle class, but increasingly in its European counterpart, too, which privileges the leanest people, the most punishing exercise classes, the most body-conscious brands of workout clothes.

finally, the harsher world of the 2010s has also prompted many people to undergo a more private, less visible toughenin

They have got used to walking past the decade’s casualties in the street, and not giving them much thought. In the 2010s, as in Victorian times, if you want an untroubled mind, it doesn’t pay to look at the world around you too hard.

the difficulties since 2010 of so many previously dominant value systems – capitalism, centrism, traditional conservatism, white male supremacy – have opened up space for new political movements, at a rate not seen since the 1960s.

the 2010s have reacquainted voters with the idea that politics can be about big promises and fundamental choices.

the 2010s have also brought a renewed realisation that culture is political – after decades when most creative people and cultural critics avoided that conclusion. Literary and art prizes now regularly go to people whose work is overtly political, such as Margaret Atwood

Although prizes are inherently elitist, they are now also increasingly expected to promote greater equality in society as a whole. It is a contradiction characteristic of the decade’s politics, where a greater awareness of the injustices suffered by many social groups, and sometimes a greater willingness to redress them, co-exists with an intensifying individualism – with a growing preference for letting people self-identify and respecting each person’s particular life experience

In 2012, Mark Fisher said that Britain was suffering from “depression economics and boomtime politics”: the disengagement prompted by the relatively comfortable 1990s and 2000s was lingering on, despite the reopening of so many economic issues by the financial crisis. Seven years later, apathy remains a habit for many Britons

digital technology, far from enabling more creativity, had actually made it both harder and less essential for artists. Instead of coming up with new ideas, they could now roam the internet’s infinite archives, and build careers out of clever hybrids and pastiches of previous forms.

Pop culture from the 1990s, in particular, such as the cosy TV series Friends, has become hugely popular again. In our often backward-looking society, “Time itself seem[s] to become sluggish,” wrote Reynolds, “like a river that starts to meander”

Here is one takeaway with potentially universal import: It is simplistic to portray government actions such as quarantines as the cause of economic damage. The real culprit is the virus itself. From Asia to Europe to the Americas, the risks of the pandemic have disrupted businesses while prompting people to avoid shopping malls and restaurants, regardless of official policy.

Sweden is exposed to the vagaries of global trade. Once the pandemic was unleashed, it was certain to suffer the economic consequences

“The Swedish manufacturing sector shut down when everyone else shut down because of the supply chain situation,” he said. “This was entirely predictable.”

“There is just no questioning and no willingness from the Swedish government to really change tack, until it’s too late,” Mr. Kirkegaard said. “Which is astonishing, given that it’s been clear for quite some time that the economic gains that they claim to have gotten from this are just nonexistent.”

On Tuesday, Microsoft, Amazon’s closest competitor in cloud computing, also reported its most profitable quarter, growing 30 percent from a year earlier.

That slow return to health is also providing momentum to companies that suffered early in the pandemic

Twitter’s stock dropped about 14 percent in after-hours trading on Thursday

Sales were $96.1 billion, up 37 percent from a year earlier, and profits rose to $6.3 billion.

Amazon said sales could reach $121 billion in the fourth quarter because of the confluence of Prime Day, the holiday shopping season and the turn to online spending.

Apple’s services segment, which includes revenues from the App Store and offerings like Apple Music, increased 16 percent to $14.5 billion. Sales rose 46 percent for iPads, 29 percent for Mac computers and 21 percent for wearables.