Morning Consult Global: E.U.’s Proposed Gas Cap Is Panned by Critics
 

Global

Essential news & intel on how business, politics and economics intersect around the world to start your day.
November 23, 2022
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Post-Midterms, U.S. Gains Esteem Among Some Allies

German and Italian adults see the United States in a more positive light after congressional Democrats put up a better-than-expected showing in the midterm elections. Opinion worsened slightly in Japan and France while South Koreans’ and British esteem remained about the same. Read more about why that may be in my latest: U.S. Reputation Improves in Some Allied Countries Following Midterm Elections.

 

And here’s a programming note before we get on to the top stories: This newsletter will be off for the rest of the week due to the Thanksgiving holiday, but we’ll be back in your inbox starting Monday.

 

 

Today’s Top News

  • The European Union proposed a natural gas price cap that critics say is dubiously high and limited in applicability, making it unlikely to ever be used. One E.U. diplomat called the proposal “just another way of killing the cap.” (Financial Times)
  • Brazilian President Jair Bolsonaro is now contesting his recent election loss after a software bug on some electronic voting machines was discovered, despite assessments from independent experts that the bug would not affect results. The electoral authority has already declared victory for Bolsonaro’s opponent and the electoral court looks primed to reject the appeal, experts said. (The Associated Press)
  • Iran announced it will expand its nuclear enrichment program following criticism from the International Atomic Energy Agency over alleged undeclared nuclear sites and calls for Tehran to cooperate with the organization’s investigation. The Fordow underground nuclear facility will now enrich uranium to just below weapons-grade purity, though Iran has always maintained its nuclear program is peaceful. (Financial Times)
  • Chinese workers at the Foxconn factory in Zhengzhou, which manufactures iPhones, were met with police violence and mass detention after they turned out for a rare protest against draconian COVID-19 policies and deceptions on the part of managers. Protesters say they were promised attractive pay for two months of work, only to find out their actual pay would be much lower and conditions much worse, which Foxconn denies. (The Associated Press)
 

Chart Review

 
 

What Else You Need To Know

Multilateral
 

U.S says G7 should soon unveil price cap level on Russian oil, adjust regularly

Timothy Gardner et al., Reuters

The Group of Seven nations should soon announce the price cap on Russian oil exports and the coalition will probably adjust the level a few times a year rather than monthly, a senior U.S. Treasury official said on Tuesday.

 

Inside the Trilateral Commission: Power elites grapple with China’s rise 

Ken Moriyasu et al., Nikkei Asia 

Enigmatic group linking Asia, the U.S. and Europe opens up on eve of 50th anniversary.

 
Asia-Pacific
 

‘We’ve totally confused residents’: China’s Covid policy flip-flop stokes frustration

Ryan McMorrow, Financial Times 

City of Shijiazhuang has shut down, opened up and closed again in 9 days as country battles near record outbreak.

 

Japan begins to probe Unification Church, eyes depriving tax benefits

Kyodo News 

The Japanese government began investigating the Unification Church on Tuesday, paving the way for requesting a court to consider depriving the controversial group of its status as a religious corporation with tax benefits.

 

China resumes streaming South Korean content after six-year suspension

Soo-hyang Choi, Reuters 

A Chinese streaming platform has resumed distributing South Korean content after suspending it for nearly six years, South Korean officials said on Tuesday, in what Seoul called a sign of Beijing’s readiness to improve ties.

 

Search effort intensifies after Indonesia quake killed 268

Andi Jatmiko, The Associated Press 

More rescuers and volunteers were deployed Wednesday in devastated areas on Indonesia’s main island of Java to search for the dead and missing from an earthquake that killed at least 268 people.

 

Kim’s sister warns US of ‘a more fatal security crisis’

Hyung-jin Kim, The Associated Press 

The influential sister of North Korean leader Kim Jong Un warned the United States on Tuesday that it would face “a more fatal security crisis” as Washington pushes for U.N. condemnation of the North’s recent intercontinental ballistic missile test.

 

China backs 2 stronger property companies with $16.8bn credit line

Cheng Leng and Thomas Hale, Financial Times 

Vanke and Midea first to benefit from government support package for struggling sector.

 
Europe
 

Ukraine Strikes at Sevastopol and Pushes to Reclaim Key Black Sea Peninsula

Jared Malsin and Bojan Pancevski, The Wall Street Journal 

Russian officials said drones attacked the occupied Crimean port city, and Kyiv launched an assault on a strip of land south of Mykolaiv.

 

EU plans subsidy war chest as industry faces ‘existential’ threat from US

Jakob Hanke Vela and Barbara Moens, Politico

European industry is on an emergency footing thanks to high gas prices and new lavish subsidies for American rivals.

 

Missiles for Poland May Disrupt NATO’s Stance on Ukraine War

Andrew Higgins, The New York Times 

NATO is determined to help Ukraine battle Russia, but wants no direct part of the war. A new promise of air defense weapons for Poland may make that more complicated.

 

UK top court rules against Scottish independence vote plan

Jill Lawless, The Associated Press 

The U.K. Supreme Court ruled Wednesday that Scotland does not have the power to hold a new referendum on independence without the consent of the British government. 

 

Russia threatens to restrict gas flows to western Europe via Ukraine

David Sheppard and Roman Olearchyk, Financial Times 

Kyiv rejects accusation by Gazprom it is taking supplies for Moldova from last remaining pipeline.

 
Latin America
 

Colombia’s drug problem is worse than ever. But it has a radical solution

Stefano Pozzebon, CNN 

When Gustavo Petro, Colombia’s first progressive president, took office in August, he laid out an ambitious agenda.

 

Mexican president confirms regional meeting canceled

The Associated Press 

Mexico’s president confirmed Tuesday that a planned meeting this week of the regional group known as the Pacific Alliance will not take place, because Peru’s congress did not give that country’s president permission to leave the country.

 

Mauricio Macri’s possible comeback threatens to divide Argentina opposition

Lucinda Elliott, Financial Times 

A split could open up an avenue for ruling Peronists to keep hold of power in next year’s election.

 
Middle East and Africa
 

Iran protests: Covert testimonies reveal sexual assaults on male and female activists as a women-led uprising spreads 

Tamara Qiblawi et al., CNN

Covert testimonies reveal sexual assaults on male and female activists as a women-led uprising spreads

 

Erdogan says Turkey will launch Syria land operation when convenient

Nevzat Devranoglu et al., Reuters 

President Tayyip Erdogan said on Wednesday that Turkey’s air operations against a Kurdish militia in northern Syria were only the beginning and it will launch a land operation there when convenient.

 

Upsurge in violence heightens anxiety over stability of West Bank

James Shotter, Financial Times 

UN warns of ‘deadly cycle’ in occupied territory where the Lions’ Den militant group have emerged.

 

Nigeria: Gunmen abduct more than 100 in northeastern Zamfara state

Reuters and CNN 

More than 100 people, including women and children, were abducted when gunmen raided four villages in Nigeria’s northwestern Zamfara state on Sunday, the information commissioner and residents said on Monday.

 

Saudi Arabia in talks to deposit $5bn into Turkey’s central bank

Ayla Jean Yackley and Samer Al-Atrush, Financial Times 

Transaction would follow diplomatic push by Erdoğan to attract Saudi cash to crisis-hit economy.

 
North America
 

Canada: Why the country wants to bring in 1.5m immigrants by 2025

Robin Levinson-King, BBC News 

Canada is betting big on immigration to fill the gap in its economy left by aging Baby Boomers leaving the workforce – but not everyone is on board with bringing in so many people from abroad.

 
Opinions and Perspectives
 

Can African Leaders Broker Congo-Rwanda Peace?

Nosmot Gbadamosi, Foreign Policy 

After a surprise peace deal in Ethiopia, there is hope for progress in talks between the Democratic Republic of the Congo and Rwanda.

 

Malaysia’s Democratization Poses New Challenges to China’s BRI Projects

Imran Shamsunahar, The Diplomat 

Elites’ growing need for democratic legitimization is impacting the fate of a slew of large-scale Chinese projects.

 

Lula’s Win in Brazil’s Election Does Not Cement Latin America’s ‘Pink Tide’

Simeon Tegel, Foreign Policy 

Lula’s reelection in Brazil does not prove that Latin America is turning left again.