The industrial arms race is on. For many political reasons, countries with the means are throwing billions of dollars into local industries. But when will leaders realise that it might harm their economies? Japan’s refugee policy was already stringent, but now the country is cracking down on asylum seekers even more (10:26). And, how Oppenheimer has reignited Los Alamos's tourist appeal (18:22).For full access to print, digital and audio editions of The Economist, try a free 30-day digital subscription by going to www.economist.com/intelligenceoffer Hosted on Acast. See acast.com/privacy for more information.