The pandemic of the century is a storm that does not subside; it returns to its rampage after 40 million infections and more than a million official victims, perhaps two million according to estimates on the excess deaths. In the contention between powers, China stands as the winner: it seems to have tamed the virus, and industry and services are up and running; the USA and Europe, on the other hand, are moving towards a new wave of infections that casts yet more shadows on the economic cycle. Political structures and health systems are at the height of tension. In America, the elections have judged Donald Trump’s rash demagogy on the basis of the opposite reasons for containing the pandemic and the intolerance of small and large producers; in Europe the executives are attempting to steer between the surge in infections, increasingly stringent confinement measures and the threats of fiscal jacquerie in the tourism and catering sectors. Almost everywhere, in the Old Continent, governme