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Cruel, Cruel Summer

Cruel, Cruel Summer

As the temperature rose this summer (at least in the Northern Hemisphere) many world leaders started to feel the heat. Here’s a look at five presidents and prime ministers who have seen their approval ratings fall significantly over the past several months.


Vladimir Putin, President of Russia: The world’s shrewdest strongman saw his approval rating plummet 12 points between May and July after his government proposed raising the retirement age and slashing pension benefits. More than 80 percent of Russians opposed the move, prompting the largest one-month polling tailspin in the history of Putin’s tenure. While his current rating of 67 percent is nothing to sneeze at, it’s his lowest since February 2014, just before he launched the wildly popular invasion of Ukraine.

Emmanuel Macron, President of France: The stirring triumph of Les Bleus in the 2018 World Cup did little to buoy President Macron’s popularity back home. After a scandal-plagued summer that saw the release of video footage showing Macron’s former chief bodyguard beating two protesters during the country’s May Day celebrations, France’s political wunderkind faces the biggest test of his presidency so far. Over the past three months, Macron’s approval rating has fallen by 16 points to a record low 27 percent.

Mauricio Macri, President of Argentina: Elected in 2014 in part to clean up years of his predecessors’ economic mismanagement, Macri’s gradualist approach has pleased no one: his reforms have been painful enough to put people on the streets, but not far-reaching enough to spur a fresh investment boom or economic surge. The outside world isn’t helping: higher US interest rates, economic slowdowns in Brazil and China (Argentina’s key partners) and a broader run on emerging market currencies have helped push the Argentine peso down more than 40 percent against the dollar this year, and Macri’s approval has fallen 14 points since June.

Moon Jae-in, President of South Korea: President Moon’s approval rating soared above 80 percent after his historic summit with North Korean leader Kim Jong-un this spring, but it’s fallen steadily since then – in part because of a mishandled minimum wage increase (too fast for employers, too slow for workers) and a summer heat-wave that boosted electricity bills. Still, let’s be serious: 58 percent is the envy of most democratically elected leaders these days, and maybe his planned upcoming visit with Kim Jong-un can give him a fresh boost.

Malcolm Turnbull, (former) Prime Minister of Australia: Ousted last Friday after a political knife fight within his own party, one major reason for the 9-point fall in Turnbull’s approval rating that culminated in his ouster was a botched plan to impose tighter emissions regulations. But there’s also a deeper structural crisis at play in Australia, where political squabbles have paralyzed government for years, and Turnbull’s own governing party is split between a faction drawn rightward by the rise of anti-immigrant populist politics and a more centrist faction that Turnbull represented. If you’re counting, Australia has gone through 6 changes of prime minister in the past ten years.

Meet Alessandra Cominetti, a recipient of MIT Technology Review Magazine's Innovators Under 35 award. As a lab technician at Eni's Research Centre for Renewable Energy in Novara, Alessandra has devoted her career to finding new solutions and materials to optimize solar energy. Much like the serendipitous encounter that resulted in her employment, her eagerness and willingness to try new things allowed her to stumble upon a material for the creation of portable solar panels.

Watch her remarkable story on the latest episode of Faces of Eni.

Joe Biden has vowed to radically change the US' approach to foreign policy and international diplomacy should he win next week's election.

But a lot has happened in four years under Donald Trump that could impede Biden's ability to simply return to the status quo ante. How different would US foreign policy really be under a Biden presidency? What will the two-term former vice president likely be able to change, and what's bound to remain the same, at least for now?

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Kevin Sneader, Global Managing Partner at McKinsey & Company, provides perspective on what corporate business leaders are thinking during the global coronavirus crisis

Should big business care about small business in these times?

The answer is yes and for many reasons. First, small business is the lifeblood of our economies. 45% of employment in emerging countries and 70% in the OECD comes from small and medium enterprises. Moreover, these enterprises have been badly hit by the crisis. Surveys indicate as many as 50% of European small to medium enterprises feel they may not survive over 12 months. While SMEs are relying on government support, larger companies do have a role to play. After all, this includes prioritizing small business and procurement by locking in demand for multiple years, thus facilitating access to good credit, paying receivables to small business in time and where possible, ahead of schedule. Cash flow matters most when you're small. Looking out for small businesses that have lower resilience. For example, financial institutions can lend more and in doing so, ensure deeper customer relationships in the future.

In his latest Financial Times op-ed, Martin Wolf argues that the US global role is at stake in this election and that a Trump re-election would undo America's legacy of democratic leadership in the world. Ian Bremmer and Eurasia Group's Jeffrey Wright grabbed the Red Pen to argue that a Trump presidency exists in part because of Americans' rejection of the US's post-war leadership role, and these feelings run deeper than the article suggests.

Today, we're taking The Red Pen to a recent op-ed published in The Financial Times from my good friend, the chief economics commentator Martin Wolf. Martin argues the global role of the United States is at stake on November 3rd, and that a Trump reelection would undo America's legacy of democratic leadership in the world. There's been a lot of this sort of thing recently. I know, we did it once, but if we do it twice, it's all over and I'm not there. To be clear, we don't totally reject what Martin is presenting in this piece. Rather, we'd argue that a Trump presidency exists because there were feelings that were present in the United States before he came along and they run a lot deeper than the article suggests. In other words, it's really not all about Trump.

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"The top priority will be to announce to the world that the United States they've known for decades is back." Former top Obama diplomat and current CEO of the think tank New America Anne-Marie slaughter predicts an American revival on the global stage if Joe Biden wins the presidency. But at a time when the United States has never been more divided, can any nation, even the world's most powerful, be a global leader if it cannot even keep its own house in order? Ian Bremmer's conversation with Slaughter is part of a new episode of GZERO World.

Watch the episode: How a "President Biden" could reshape US foreign policy

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