October 31, 2021
Biden's Euro trip. President Joe Biden is on a crucial Euro trip. It began in Rome at the G-20 Summit, where his idea for a global minimum tax rate was broadly endorsed by the group. Biden also visited Pope Francis at the Vatican – a get-together that produced decidedly less scary photos than when his predecessor held a papal visit – and met with France's President Emmanuel Macron to try to smooth over strained relations after the AUKUS debacle, which he now says had been "clumsy." The US president also had a face-to-face with Turkey's President Recep Tayyip Erdogan, just a week after Ankara threatened to expel the US ambassador. But there's a domestic component at play too: Biden was hoping to have passed two infrastructure bills, which include money for climate change, before he attended the COP26 meeting in Glasgow, which kicked off this weekend. Failure to close the deal on Capitol Hill would deal Biden's credibility a heavy blow just at the moment he wants to reinforce the US commitment to climate change reduction goals at this week's summit and to claim, yet again, that America is indeed back! But Democrats continue to wrangle over both what's in the bills and how to pay for them. Meanwhile, only a third of Americans now say that the US is headed in the right direction. Biden was hoping to have the wind at his back as he sailed into Europe. Instead, he is facing a strong political headwind.
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In this Quick Take, Ian Bremmer breaks down the escalating US-Israel war with Iran and its ripple effects on global markets and supply chains.
As missiles fly and oil prices soar, the Iran war is exposing another major resource vulnerability in the Middle East: water. Fresh water has been a scarce commodity in a region defined by a dry climate and low rainfall, but attacks on the region’s desalination plants, which convert seawater into drinking water, threaten to open a new front.
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