View in browser
Bloomberg
Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up here.
As the Israel-Hamas war intensifies amid growing anger across the Middle East, the region looks like it’s spiraling downwards in a familiar pattern.
For all of the key actors one thing is clear: There’s no easy way out.
While the visit of US President Joe Biden and European leaders may delay Prime Minister Benjamin Netanyahu’s plans for a ground invasion of Gaza to crush the Hamas militant group that killed more than 1,000 people on Oct. 7, there’s little sign Israel will rethink its approach.
Biden’s trip has already been thrown into disarray after a meeting in Jordan with Arab leaders was called off following an explosion at Al-Ahli Baptist Hospital in Gaza City yesterday that killed hundreds.
That catastrophe sparked a firestorm of protest, with most of the Arab world — already seething over the death toll in Gaza — blaming Israel.
The Israeli military says the evidence points to an errant rocket from Islamic Jihad, a militant group. Biden suggested he agreed with his hosts, saying “based on what I’ve seen that appears as though it was done by the other team.”
For the president, the promising diplomatic drive for a rapproachement between Israel and Saudi Arabia is on ice. One of Biden’s main objectives in visiting Israel was to deter Iran, Hezbollah and other regional actors from entering the conflict.
But the outrage over the hospital bombing will be hard to soothe, whoever was behind it.
Some Israeli officials believe their campaign to destroy Hamas, designated a terrorist organization by US and European Union, could take months.
That could play into Netanyahu’s hands by delaying any investigation into the security lapse that allowed Hamas fighters to enter Israel. He’s widely blamed in Israel for the breach.
Relations between Israelis and Palestinians backed by the wider Arab world are in a brutally ugly phase — a reminder that such deeply rooted conflicts never really go away. — Karl Maier
Palestinians evacuate a victim following an Israeli airstrike yesterday on Rafah in the southern Gaza Strip. Photographer: Mohammed Abed/AFP/Getty Images
Global Must Reads
Chinese President Xi Jinping portrayed his signature Belt and Road Initiative as a sweeping alternative to the US-led world order, a vision endorsed in person by Russian leader Vladimir Putin. In a speech in Beijing today marking the infrastructure project’s 10th anniversary, Xi criticized unilateral sanctions, geopolitical rivalry and bloc politics. While he didn’t identify any country, the remarks were clear references to recent US policy toward China.
The leadership vacuum in the US House dragged on as Republican Jim Jordan’s election as the speaker of the chamber failed again. Twenty lawmakers withheld support for the ultra-conservative backed by former President Donald Trump on an initial ballot yesterday. Since Kevin McCarthy’s ouster from the post on Oct. 3, the House has been unable to address an impending government shutdown and aid to Israel and Ukraine.
The Indian government’s use of the draconian Unlawful Activities (Prevention) Act to clamp down on the press is sending a chill through a country that prides itself on being the world’s largest democracy. Journalists and activists argue the authorities are misusing the law to silence critics just months ahead of an election that could give Prime Minister Narendra Modi a third term.
Student organizations protest against the media crackdown in New Delhi on Oct. 4. Photographer: Kabir Jhangiani/ NurPhoto/Getty Images
From Europe to the Americas, governments are erecting barriers and castigating refugees as they grapple with a migration crisis that touches raw nerves among voters and the political class. Not so in Brazil, where Venezuelans fleeing the once-wealthy petro state are welcomed with open arms by officials who process their paperwork, offer them jobs and provide airfares to relocate them to work in its vast agricultural industry, Andrew Rosati and Denise Lu report.
Once dubbed the Wunderkind of Austria, former Chancellor Sebastian Kurz faces perjury charges in a trial today set to rake over events that triggered the political downfall of Europe’s then-youngest leader and a rising star on the center-right. Kurz, who allegedly lied under oath to a parliamentary inquiry into a 2019 scandal, faces as many as three years in prison if convicted.
Russian Foreign Minister Sergei Lavrov arrived for his first visit to North Korea in about five years, as the US made fresh accusations that Pyongyang is supplying weapons to help Moscow in its invasion of Ukraine.
A visit to Washington by the EU’s two top officials later this week was supposed to focus on Ukraine, trade and countering China, but Israel’s conflict with Hamas has injected new urgency into the summit.
A Ugandan militia group linked to Islamic State killed two foreign tourists and their local guide at a national park bordering the Democratic Republic of Congo, police said.
Washington Dispatch
The Senate Foreign Relations Committee will hold a confirmation hearing today on former Treasury Secretary Jack Lew’s nomination to be ambassador to Israel.
A sensitive post at any time and in any administration, it has taken on even more importance after the Hamas assault on Israel. Yet Lew has come under attack from some Senate Republicans — led by Senator Tom Cotton of Arkansas — over his record on dealings with Iran, including the 2015 nuclear accord.
Committee Chairman Ben Cardin of Maryland said on X, formerly known as Twitter, that “Israel is in critical need of a Senate-confirmed US ambassador, and nominee Jack Lew is ready to serve.” But in an X post, Tennessee Republican Bill Hagerty wrote that “Lew must answer for his failed Obama-Biden Middle East strategy.” Majority Leader Chuck Schumer, who presides over a narrow Democratic majority, had hoped to get Lew confirmed with a unanimous floor vote. The process has become far more complicated.
One thing to watch today: House Republicans are scheduled to vote again on the nomination of Jordan to be speaker.
Sign up for the Washington Edition newsletter for more from the US capital and watch Balance of Power at 5pm ET weekdays on Bloomberg Television.
Chart of the Day
The loosened fiscal deficit plans of Italian Prime Minister Giorgia Meloni’s government will be tested by a series of credit assessments, along with the judgment of EU officials. At least five companies are scheduled to provide updates on Italy’s ratings in coming weeks.
And Finally
A United Nations agency has cleared Zambia and Zimbabwe to build a $5 billion hydropower dam downstream from Victoria Falls, a Unesco World Heritage Site, according to the authority overseeing its construction. The Batoka Gorge project has been opposed by environmentalists because of the potential impact it would have on the world’s largest waterfall, a key tourist site for both countries.
Victoria Falls. Photographer: Zinyange Auntony/Getty Images
More from Bloomberg
Listen to our X Space discussion on the Israel-Hamas war and its foreign policy implications
Bloomberg Opinion for a roundup of our most vital opinions on business, politics, economics, tech and more
Economics Daily for what the changing landscape means for policy makers, investors and you
Green Daily for the latest in climate news, zero-emission tech and green finance
Explore more newsletters at Bloomberg.com.
Follow Us
No comments:
Post a Comment