The Summit Plummet

The Summit Plummet

Always be ready to walk away from the table if you don’t like the deal, US President Donald Trump once wrote. Well, forget about the table — on Thursday morning Trump pulled the plug a full three weeks before even getting into the room with North Korea’s Kim Jong-un.


What happened? President Trump’s framed his decision to cancel the planned 12 June summit as a matter of words — he didn’t like it that North Korean officials said some not very #BeBest things about Vice President Pence! — but in reality the collapse had to do with a critical underlying disagreement over definitions.

The prospect of “denuclearization,” which was central to any talks, always meant very different things to Pyongyang (give up weapons slowly, get lots of good stuff along the way) and Washington (give up weapons swiftly, we’ll talk about your benefits afterwards, but maybe you won’t be around long enough to see them.)

That ongoing disagreement — just weeks from the summit — burst into the open in the recent verbal sparring between Pyongyang and Pence (and National Security Adviser John Bolton) which Trump used as the pretext to scuttle the summit.

So what’s next for our two jilted leaders?

The ball is in Pyongyang’s court now, but Kim Jong-un hardly needs to hurry after it. A summit on equal footing with the US president would have been a diplomatic coup for him, sure, but even without that, the threat of US military action against him is already lower, and his relations with South Korea and China much warmer, than they were just weeks ago. Those things are already wins for Kim. So he can afford to play it cool for at bit — but is that really his style?

For Trump, although the foreign policy mandarins see this as a big humiliation, his base will see it as a strong move from a tough negotiator, so there’s little political fallout there. A bigger question is how this plays into his calculus on China. For months, Trump has pulled his punches with Beijing on trade issues, in part because he needed President Xi Jinping’s help to pressure his client Kim Jong-un to the table. But if Trump sees the summit as a lost cause, he could quickly pivot to a more confrontational stance towards China.

Building on its previous commitment, Walmart is investing an additional $350 billion in products made, grown and assembled in America - supporting more than 750,000 new jobs by 2030. This pledge will aim to avoid more than 100M metric tons of CO2 emissions, advance the growth of U.S. based suppliers, and provide opportunities for more than 9,000 entrepreneurs to become Walmart suppliers and sellers through Walmart's annual Open Call.

China's GDP grew a lower-than-expected 4.9 percent year-on-year in the third quarter of 2021, a whopping three percentage points less than in the previous period. It's a big deal for the world's second-largest economy, the only major one that expanded throughout the pandemic — and now at risk of missing its growth target of 6 percent for the entire year.

Normally, such a drastic slowdown would have put the ruling Communist Party in a tizzy. But this time, Xi Jinping knows this is the price he must pay for his big plans to curb rising inequality and boost the middle class at the expense of the CCP's traditional economic mantra: high growth above all else.

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Religious tension rising in Bangladesh: Clashes between Hindus and Muslims in Bangladesh have surged over the past week, leaving at least four people dead. After an image was posted on Facebook showing the Quran at the feet of a statue at a Hindu temple, Muslims burned Hindu-owned homes and attacked their holy sites. Both sides have taken to the street in protest, with Hindus saying that they have been prevented from celebrating Durga Puja, the largest Hindu festival in the country. Such acts of sectarian violence are not uncommon in Bangladesh, a majority-Muslim country where Hindus account for nine percent of the population. Indeed, as Eurasia Group's Kevin Allison recently warned, unverified social media content stoking inter-ethnic conflict is a massive problem throughout South Asia, where for many people Facebook is synonymous with the internet.

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Ian Bremmer's Quick Take:

Read Ian Bremmer's wide-ranging essay in Foreign Affairs that puts in perspective both the challenge, and the opportunity, that comes from the unprecedented power of Big Tech.

Hi, everybody. Ian Bremmer here on the road, something we haven't done very much recently, but will increasingly as we try to move through COVID. And I want to talk to you about a new article that I just put out in Foreign Affairs that I'm calling "The Technopolar Moment." Not unipolar, not bipolar, not multipolar, technopolar. What the hell does technopolar mean?

It means that increasingly big technology companies are themselves geopolitical actors. So to understand the future of the world, you can't just look at the United States, Europe and China. You need to look at the big tech companies, too.

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China gets away with a lot these days in Hong Kong, Xinjiang, and elsewhere. That's because over the past decade, its economy has experienced explosive growth, making it an indispensable trading partner for almost every country in the world. At the same time, China has been expanding its share of the global economy, and is now set to overtake the US as the world's biggest economic powerhouse in the near term. We take a look at China's annual growth rate and share of the global economy based on GDP over the past decade.

The European Union is, for better or worse, the most ambitious experiment in human history in institutionalized multinational cooperation. Its success depends on the willingness of its members to abide by its rules.

In recent years, the populist-nationalist governments of former Communist bloc members Hungary and Poland have flouted some of those rules in order to boost their own popularity with citizens suspicious of the EU's liberal values on issues like immigration and minority rights. In response, the EU has scolded these "illiberal" governments and threatened forceful action – so far without much effect.

The fight between EU institutions and Poland and Hungary has escalated.

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Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, shares insights on US politics:

What is the legacy of Colin Powell?

Former Secretary of State Colin Powell tragically died of complications of COVID-19. He was the first Black Chairman of the Joint Chiefs of Staff, the first Black National Security Advisor and the first Black Secretary of State. And he leaves a legacy of a long career, dedicated almost entirely to public service.

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Can this guy defeat Viktor Orban? Hungary's opposition movement of odd bedfellows has finally settled on the person they think has the best chance of defeating PM Viktor Orbán at the ballot box: Péter Márki-Zay, a politically conservative small-town mayor from southeastern Hungary, who beat out left-leaning European Parliament member Klara Dobrev in a weekend poll. Márki-Zay has a lot going for him: as a devout Catholic and father of seven it will be hard for the ultraconservative Orbán to paint him as a progressive threat, even as Márki-Zay reaches out to reassure left-leaning groups that he will protect LGBTQ rights. What's more, Márki-Zay has little political baggage: until recently he was a marketing executive. But can the relatively inexperienced Márki-Zay keep the various opposition factions happy? The stakes couldn't be higher: since taking power more than a decade ago, Orbán has deliberately made Hungary into an "illiberal" state, cracking down on the press, undermining the rule of law, and clashing with the EU. Bonus: if Márki-Zay stays in the news, you get to say "Hódmezővásárhely" the name of the city he currently runs.

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Colin Powell's legacy

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