ITK Daily | August 30
ITK Daily is geopolitical business intelligence.
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Happy Wednesday.
Here’s today’s ITK Daily.
To be ITK, know this:
"Hypocrisy is fairly evenly distributed in the North and the South": Countries like Brazil, India, and the rest of the BRICS countries are tired of the US-led unipolar world, says leading Latin American thinker Matias Spektor in an interview. They would like to decentralize power in the global system but lack a common vision for the future. Der Spiegel
World economy shows signs of slowdown: Rising interest rates are beginning to affect the business cycle, set to slow in Europe and the US in the second half of this year. Le Monde
The five global economic shifts happening now: As uncertainty and inflation challenge central bankers and policymakers, they must also adapt to structural changes. Chris Giles
US, allies seek long-term military aid for Ukraine to show West’s resolve: Weapons shortages and domestic political pressures hamper Western efforts. WSJ
Ukraine drone attacks on Moscow could escalate: DW reports their impact is comparatively small, but Ukrainian drones are increasingly attacking targets in Moscow. Experts say Kyiv is pursuing several goals simultaneously and expects the campaign to escalate.
Yevgeny Prigozhin buried in secret in St. Petersburg: Le Monde reports every possible measure was taken to downplay the funeral of the former hero-turned-pariah leader of the Wagner Group in Russia.
The Norwegian town where anyone might be a spy: For residents of Kirkenes, on the border of Norway and Russia, espionage is an everyday fact of life. 1843 Magazine
Germany is losing its mojo. Finding it again won’t be easy. Europe’s biggest economy is sliding into stagnation, and a weakening political system is struggling to find an answer. WSJ
Turkey: President Erdogan leads national Victory Day celebrations.
Macron maintains firm stance toward junta in Niger, risking confrontation: The French president is banking on divisions among the putschists, but his position could quickly become untenable if the military remains in power. Le Monde
Airbase project could pave way for UK to host US nuclear weapons: Guardian reports that a ‘potential surety mission’ at RAF Lakenheath in Suffolk thought to refer to the return of nuclear weapons after 15 years.
Bloomberg: Putin’s going to China. It’s one of the few places the accused war criminal can go
China + UK: James Cleverly, the UK foreign secretary, visits Beijing. He is expected to meet with Wang Yi, China’s foreign minister, to discuss “issues of mutual concern.”
Politico: UK parliament calls Taiwan ‘independent country’ as Cleverly visits China
Xi blindsides Japan with outcry over Fukushima water release: Tokyo misreads China's response in a repeat of 2012 Senkaku protests. Nikkei
Chinese consumers punish Japan over Fukushima nuclear water release WP
Yoon dines on seafood as Fukushima discharge divides South Korea: President looks to manage backlash from water release and keep detente with Japan. Nikkei
US companies see China as ‘uninvestable’, warns Gina Raimondo: FT reports the commerce secretary hails reopened communication channels but tells Beijing to reduce risk to businesses.
China in charts: Missing economic boom points to slowing post-COVID growth: Economists say industrial model based on infrastructure and real estate is grinding to a halt. Nikkei
How do we manage China’s decline? Bret Stephens
Reuters: Argentina's Milei will need time to scrap peso if he wins, advisers say
Biden is turning away from free trade – and that’s a great thing: Trade deals have brought cheaper goods. They’ve also destroyed millions of US jobs and caused US wages to stagnate. Robert Reich
The race to succeed President Biden is heating up on the 2024 campaign trail: High-profile governors are unlikely to cede the stage to Kamala Harris in 2028. WSJ
Election 2024: Francis Suarez is the first GOP candidate to suspend his campaign.
AP: Former Republican congressman Mike Rogers expected to run for US Senate in Michigan
+ Mark Thompson will be the next CEO of CNN.
Recommended by LinkedIn
A private phone. Secret recordings. Inside one CEO’s relationship with a TV anchor: Under Armour’s Kevin Plank shared nonpublic financial details with Stephanie Ruhle, and she gave advice on how to address negative publicity. WSJ
"Our future will be very dystopian": The rich and powerful have hijacked progress throughout history, says Daron Acemoglu. They did so back in the Middle Ages and also now in the age of artificial intelligence. In an interview, the MIT economist dives into the question of whether Silicon Valley is plunging humanity into destitution. Der Spiegel
AFP: Elon Musk lifts political ad ban at rebranded Twitter
The end of the Googleverse: For two decades, Google Search was the invisible force that determined the ebb and flow of online content. Now, for the first time, its cultural relevance is in question. The Verge
CNBC: A worldwide lithium shortage could come as soon as 2025
+ A worldwide shortage of lithium could be on its way as demand for the metal ramps up.
+ “Global lithium supply is expected to enter a deficit relative to demand by 2025,” said BMI, a Fitch Solutions research unit.
VinFast shares skid more than 40% in sharp reversal: Nikkei reports the EV stock has been on a roller-coaster ride since its NASDAQ debut.
Gazprom sends first-ever shipment of Baltic LNG to China via the Arctic: HNN reports natural gas company Gazprom has become Russia’s second energy corporation to send liquefied natural gas to China via the Arctic. This is the first time that a company has shipped gas from outside the Arctic along the Northern Sea Route.
Goldman bought UK and US companies using Chinese state funds: Deals tapped private equity ‘partnership fund’ that the bank set up with China’s CIC. FT
Nicholas Bloom predicts a working-from-home Nike swoosh: Firms, employees, and society will all benefit, reckons the Stanford economist. Economist
Danaher agreed to buy Abcam, a top maker of supplies for the life sciences industry that is known as the “Amazon of antibodies,” for $5.7 billion.
Karlie Kloss is said to be in talks to buy i-D magazine from Vice Media.
Italy: Start of Venice International Film Festival. The event is expected to be disrupted by the Hollywood writers’ strike.
Venice film fest celebrates cinema despite Hollywood strikes: DW reports many actors aren't allowed to celebrate their films at the festival, but stars such as Priscilla Presley or Adam Driver are expected on the red carpet. Roman Polanksi and Woody Allen selections have stirred controversy.
HBD: Andy Roddick, US tennis player, Grand Slam singles champion (US Open, 2003), 41.
Guardian: LIV’s Brooks Koepka named as captain’s pick for USA Ryder Cup team
AFP: Hamlin makes Bills' 53-man roster seven months after cardiac arrest John Herdman must revive a fallen MLS dynasty at Toronto FC: Guardian reports the Englishman is leaving his post with Canada to join the ranks in club football. He will find a team whose best days lie firmly in the past.
AFP: Iconic Rapinoe to play final game for USA on September 24
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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ITK Daily | August 30