What We're Watching: UAE-Israel normalization, Lukashenko tightens grip, Philippines to test Putin's vaccine
UAE and Israel strike historic deal: In an historic development, the United Arab Emirates and Israel have agreed to normalize ties. As part of the deal, Israel's Prime Minister Benjamin Netanyahu has agreed to suspend his government's plans to annex swaths of the occupied West Bank in the near term (he made sure to emphasize that the plan was merely on hold, likely a nod to his right-wing base). The peace deal, brokered by the Trump administration, marks the first time that a Gulf Arab state has normalized ties with Israel — though it's widely believed that shared concerns over the threat posed by Iran have led to backchannel cooperation between Israel and the Gulf Arab states. Many analysts, therefore, say that the agreement is largely symbolic, formalizing ties that have existed for years. It's only the third Arab-Israeli peace agreement since Israel's establishment in 1948 (a deal was signed with Egypt in 1978 and with the Kingdom of Jordan in 1994). Two key takeaways: the move gives the Trump administration a big boost before the November 3 elections as he struggles to keep up in the polls. It also reveals that lack of progress on the Israeli-Palestinian issue will no longer impede powerful Arab states from establishing formal ties with Israel, long the official position of the Gulf Cooperation Council.
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Ian Bremmer shares his perspective on global politics on this week's World In (More Than) 60 Seconds:
The Lebanese government resigns. What's next for Lebanon?
Well, not a lot of money. They need billions. I mean, $3 billion minimum just to rebuild the damage from the explosion, plus the billions because their economy is in freefall, and their banking system sucks, and their sanitation system doesn't work, and they're massively corrupt. And the humanitarian UN conference has thrown a couple hundred million at them, but nowhere near the billions they need. That requires major reform, which is being demanded by the people, and the IMF, and President Macron, who's sort of taking the lead in trying to build some international support for Lebanon. But, you know, a lot of people have problems right now. A lot of people need help. And if the Lebanese government that finally comes together is not more effective at structural reform, which is super challenging in a place that's massively corrupt, well, they're not going to get a lot of money. So this is going to be borne on the backs of Lebanese people. The one thing I will say is it's hard to imagine Hezbollah getting stronger in this environment. They are seen as part of the problem. And maybe this helps shake loose both them and the Iranian influence, which does not help the Lebanese people at all over that country.
Despite being upbeat about progress so far towards developing a COVID-19 vaccine, former CDC Director Dr. Tom Frieden warns that injecting millions of people who aren't sick with a substance that adversely affects even a small portion of the population could be catastrophic. Even an effective vaccine, in short, won't be a silver bullet. As much as the world would wish it to be true, there will not be a quick conclusion to this global catastrophe.
Ian Bremmer's Quick Take:
Happy Monday, we are in August, summer, should be taking it a little easier. Coronavirus not taking the stress levels off but hopefully giving people the excuse, if you're not traveling so much, be close with your families, your loved ones and all that. Look, this is not a philosophical conversation, this is a talk about what's happening in the world, a little Quick Take for you.
First of all, you know, I'm getting a little bit more optimistic about the news in the United States right now. Yes, honestly, I am. In part because the caseload is flattening across the country and it's reducing in some of the core states that have seen the greatest explosion in this continuation of the first wave. Yes, the deaths are going up and they should continue to for a couple of weeks because it is a lagging indicator in the United States. But the fact that deaths are going up does not say anything about what's coming in the next few weeks. That tells you what's happened in the last couple of weeks.