Volodymyr Zelensky, Bidenomics, TikTok, Golden Globes, Shohei Ohtani, plus 1,000 more actionable insights.
ITK Daily is geopolitical business intelligence for communications pros.
Happy Tuesday.
Here’s today’s ITK Daily.
To be ITK, know this:
*** Globalization + Statecraft ***
A UN report said that global trade's value will slump by around 5% year-on-year in 2023, down from a record high of $32.2trn last year.
Zelenskyy in DC: Biden has invited Zelenskyy to the White House for a meeting on Tuesday, December 12, to underscore the United States’ unshakeable commitment to supporting the people of Ukraine as they defend themselves against Russia’s brutal invasion.
Volodymyr Zelensky’s last-ditch plea for American aid: Ukraine’s president will seek to shake Congress out of paralysis. Economist
US and Ukraine search for a new strategy after failed counteroffensive: NYT reports President Volodymyr Zelensky arrived in Washington at a critical moment, both on the battlefield and on Capitol Hill.
‘It’s like Vietnam,’ say marines waging Ukraine’s river war: The Times reports patrol boats are playing a key role in keeping the enemy at bay.
Alarm grows over weakened militaries and empty arsenals in Europe: WSJ reports budget cuts and an eroded weapons industry have hollowed out armed services; Russia’s invasion of Ukraine reveals risks.
It’s time for Sweden’s navy to grow: Expanding its navy wouldn’t just be the right thing for Sweden, it would also demonstrate that it’s a country NATO allies can depend on. Elisabeth Braw
Italy: Giorgia Meloni's government speaks out against lab-grown meat: Far from being a major issue in Europe, cultured meat has nevertheless successfully made its way into the country's public debate. Italy is the first country in the world to pass a law banning it. Le Monde
Macron invites Pope to Notre-Dame reopening, announces creation of museum: Le Monde reports President Emmanuel Macron visited the Parisian cathedral, one year ahead of its scheduled reopening. He said a museum would be opened to mark its reconstruction after the 2019 blaze.
How Tory factions’ game of chicken over Rwanda bill unfolded: There were echoes of the Brexit years as the right of the Conservative Party frustrated ministers. The Times
WP: Israel claims progress against Hamas as humanitarian crisis worsens
Hezbollah: Israeli national security advisor says the country 'can no longer accept' Hezbollah's presence on the northern border.
NYT: Israel says attacks at Lebanese border demand response
Majority of Americans back Israel, WSJ poll finds: WSJ reports US attitudes on the conflict reflect partisan and generational divides. President Biden received low marks for his response to the war.
Taiwanese tech startups pile into ASEAN amid risks in China: Nikkei reports from Singapore to Vietnam, companies tap Southeast Asia in expansion drive
William Lai: Meet Taiwan’s leader-in-waiting ready to defy China: Beijing calls him a ‘troublemaker through and through.’ With the more doveish opposition parties divided, the Taiwanese are set to call him president. The Times
China’s cyber army is invading critical US services: WP reports a utility in Hawaii, a West Coast port, and a pipeline are among the victims in the past year, officials say.
US-China rivalry hits home in this Philippine province: Cagayan among places caught up in moves to bring both growth and security. Nikkei
US considers missile launch notification framework with China: Nikkei reports Washington hopes to hold bilateral nuclear talks with Beijing in early 2024.
TST: China’s Xi visits Vietnam after Biden, seeks to boost ties
Bloomberg: British firms in China wary to invest over slowdown, survey says
Bloomberg: BofA warns China property slump to hit deals; Favors Japan
Bloomberg: Australia says China lifts ban on meat shippers as ties improve
Will China leave behind its economic woes in 2024? Xi Jinping must decide whether to set an ambitious growth target. Economist
FT: India tightens control of agricultural commodities ahead of election
The UN ended its decade-long peacekeeping mission in Mali.
Argentina's new libertarian leader softens his economic radicalism: Bloomberg reports the libertarian assumes the presidency with a single-minded focus on taming inflation—even if that means breaking with those who got him there.
Javier Milei warns of painful austerity measures as he takes office in Argentina: Le Monde reports the country's new president was sworn in on Sunday. In his inaugural address, he warned of a painful period of unemployment, economic stagnation, and inflation.
AFP: 'This is Guyana': Essequibo residents anxious over Venezuela claim
*** ITK Live ***
ITK WAS | School + Salon Dinner
Executive education and global economic training to start the new year at the ITK WAS | School + Salon Dinner.
Downtown Washington, DC
January 11, 2024
Starting at 1:30 pm ET
This event will explore the interconnected global business environment, focusing on business issues at the intersection of globalization, disruption, and politics.
ITK WAS will feature three 45-minute lectures and a salon dinner.
Limited to 12 sports, participants will gain improved geopolitical intelligence, communications confidence, and increased situational awareness.
For details and tickets, click here.
*** Politics + Elections ***
How the long road to Super Tuesday could shift the dynamics of the 2024 primary race: The first part of the GOP primary will be drawn-out and potentially chaotic. ABC News
Special counsel reveals plans to use Trump’s phone data at trial: Politico reports Jack Smith indicated that he plans to call an expert witness who extracted and reviewed data copied from Trump’s phone.
Jack Smith, the special counsel trying Donald Trump for election interference, asked the Supreme Court to rule on Trump’s claim that he is immune from prosecution for crimes allegedly committed in office.
Supreme Court will consider fast-tracking Trump appeal in DC trial: WP reports the decision doesn’t mean that the justices will definitely short-circuit the typical appeals process, but it means they are going to hear arguments from both sides about whether they should act quickly.
‘Bidenomics’ is a big hit — outside the US: Politico reports the president’s signature climate law, with its massive subsidies and push for domestic manufacturing, has leaders across the UK, Australia, and Europe scrambling to follow suit. But American voters seem unimpressed.
Bloomberg: US year-ahead inflation views drop to lowest since April 2021
*** Disruption + Innovation ***
Arkhouse Management + Brigade Capital Management have made a $5.8 billion offer to buy Macy's and take it private.
Bitcoin steadies near $42,000.
Bloomberg: Hasbro is cutting about 1,100 jobs, citing weak holiday sales
Bloomberg: Ford slashes electric F-150 plans in ominous sign for EV market
FT:UK and US regulators examine Microsoft’s ties to OpenAI
TikTok will invest $1.5 billion in GoTo of Indonesia to regain an e-commerce foothold there.
Google loses antitrust lawsuit against Epic over its app store in California: FT reports a jury finds the Big Tech group abused its power to secure billions of dollars in profit from Play Store.
FT: India bets on worker dormitories as Apple leads tech pivot from China
Welcome to the ad-free internet: As the rich pay to banish commercials, advertisers hunt for their attention elsewhere. Economist
Japan's Toho to step up overseas push with $225m stake in US studio: Nikkei reports the group pursues record investment to follow success of 'Godzilla Minus One.'
FT: Indian vaccine billionaire to pay £138mn for London mansion
*** Culture ***
AFP: Paris's Ritz hotel finds €750,000 ring in vacuum cleaner bag
Golden Globes: Barbenheimer tops 2024 nominations: Le Monde reports 'Barbie' and 'Oppenheimer' topped the newly revamped Golden Globes film nominations Monday, with Greta Gerwig's feminist satire receiving nine nominations, and Christopher Nolan's drama eight.
*** Sport ***
PGA + LIV: The PGA Tour Policy Board has agreed to advance negotiations with Strategic Sports Group and continue PIF negotiations.
The four days that relaunched golf’s civil war: Jon Rahm’s defection to the Saudi-backed LIV Golf was quickly followed by the PGA Tour aligning with other powerful investors as the strategy for both sides takes shape ahead of a deadline to make a deal—or risk becoming enemies again. WSJ
Ohtani’s contract goes beyond dollars and sense: The Los Angeles Dodgers are betting $700 million that Shohei Ohtani can deliver championships and help increase revenue. But the economics of sports can be fickle. NYT
The Athletic: Shohei Ohtani to defer $68 million per year in unusual arrangement with Dodgers: Sources
WP: Group of lawmakers vote in favor of plan to bring Capitals, Wizards to Virginia
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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