The Intelligence from The Economist
Squash court: Israel’s controversial law reform
Tue Jul 25 2023Description
Vietnamese children are excelling in education compared to neighboring countries. Vietnam's education system is performing well compared to its regional peers and even richer countries like Britain and Canada. Israel's parliament passed a law limiting the powers of the Supreme Court, sparking protests. Islamic scholars are divided on whether cryptocurrencies violate religious prohibitions.
Insights
Vietnamese Education System
Vietnamese children are excelling in education compared to neighboring countries. Vietnam's education system is performing well compared to its regional peers and even richer countries like Britain and Canada.
Israeli Supreme Court Law
Israel's parliament passed a law limiting the powers of the Supreme Court, sparking protests. The law weakens the Supreme Court's ability to strike down unreasonable laws. Protesters have been demonstrating against the government and legal reforms for months.
Islamic Scholars and Cryptocurrency
Islamic scholars are divided on whether cryptocurrencies violate religious prohibitions. Scholars have been debating whether cryptocurrency is permissible in Islamic finance. Some scholars believe cryptocurrency is permissible because it doesn't involve interest or speculation.
Chapters
Vietnamese Education System
00:03 - 08:40
- Vietnamese children are excelling in education compared to neighboring countries.
- Vietnam's education system is performing well compared to its regional peers and even richer countries like Britain and Canada.
- Vietnamese schools have improved over time while many other countries' education systems have deteriorated.
- The caliber of teachers in Vietnam is better due to effective teaching methods and frequent training.
- Teachers are assessed based on performance and rewarded with titles, creating incentives for excellence.
- Vietnam's society values education, leading to investments in tuition classes and private lessons.
- Vietnam's solid education system has contributed to its economic growth but faces challenges such as skills gap and overcrowded urban schools.
Israeli Supreme Court Law
08:19 - 16:16
- Israel's parliament passed a law limiting the powers of the Supreme Court, sparking protests.
- The law weakens the Supreme Court's ability to strike down unreasonable laws.
- Protesters have been demonstrating against the government and legal reforms for months.
- Business groups have closed down shopping centers and there is talk of a possible general strike.
- Reserve officers in the Israeli military are refusing voluntary service, which could impact national security.
- Prime Minister Benjamin Netanyahu and his government want to limit the power of the Supreme Court due to anti-court sentiment among far-right and religious parties.
- The next steps include questions about how the government will use its expanded powers and whether protesters will follow through with their threats.
- If the government takes action, it will cause further protests.
- Israeli officers may not turn up for service, leading to a potential general strike.
- The government may face pressure from the business sector.
- The Supreme Court can still play a role by disqualifying the law and causing a constitutional crisis.
- The appointment of new Supreme Court justices will be a major battle for Israel's democracy.
Islamic Scholars and Cryptocurrency
15:46 - 20:49
- Islamic scholars are divided on whether cryptocurrencies violate religious prohibitions.
- Scholars have been debating whether cryptocurrency is permissible in Islamic finance.
- Some scholars believe cryptocurrency is permissible because it doesn't involve interest or speculation.
- Other scholars argue that the crypto market is too volatile and uncertain.
- Muslim countries have seen a growing cryptocurrency market, driven by inflationary pressures and devaluation of currencies.
- Governments in Muslim countries have taken different approaches to cryptocurrency, with some banning it while others are warming up to it.
- The Gulf region has been an early adopter of cryptocurrencies, with Bahrain issuing a regulatory license to a crypto exchange and Dubai becoming a hub for crypto companies.
- Big players in the region are promoting local adoption of cryptocurrencies, such as Islamic coin which will be publicly traded and marketed as halal.
- The debate on whether cryptocurrency should be embraced or condemned will continue due to disagreements on speculation and uncertainty.