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Turkey approves Sweden’s bid to join NATO: WSJ reports the pact paves the way for NATO to complete a historic expansion launched in response to Russia’s invasion of Ukraine and comes after hours of negotiations ahead of the military organization’s summit in Lithuania.
Turkey drops opposition to Sweden’s NATO bid on eve of summit: WP reports after a year of obstruction from Ankara, NATO’s secretary general announced the deal and expressed confidence that Sweden’s bid to join the alliance would win ratification from holdouts Turkey and Hungary.
NATO to defer decision on Tokyo liaison office: Nikkei reports wary of China, France makes deal at summit unlikely; bloc sets year-end target.
This isn’t your father’s NATO: An anti-Putin military alliance now stretches from the Barents to the Black Sea. Tod Lindberg
+ "Even in defeat, however, Russia isn’t going anywhere."
+ "It is difficult now to fault Russia’s Baltic neighbors and other Central and Eastern European NATO members for their often-voiced post-Cold War suspicions about Russian intentions. Were postwar Moscow somehow to turn benign, nothing guarantees it would remain so."
+ "The security needs of Russia’s neighbors are permanent. That’s geopolitics."
+ Ukraine, however, has established that it will fight. Not only in self-defense but also for its European aspirations and, by extension, for Europe, its trans-Atlantic partners, and the values they share."
+ "Ukraine is already one of NATO’s sharpest teeth in a collective defense arrangement that extends from the Barents Sea to the Black Sea. We just need to complete the paperwork."
A stronger NATO for a more dangerous world: What the alliance must do in Vilnius—and beyond. Jens Stoltenberg
+ "NATO stands united, and authoritarian aggression will not pay off."
+ "Even if the war were to end tomorrow, there is no sign that Putin’s broader ambitions have changed. He sees freedom and democracy as a threat and wants a world where big states dictate what their neighbors do. This puts him in constant confrontation with NATO’s values and international law."
+ "NATO does not see China as an adversary."
+ "NATO is a regional alliance, but the challenges we face are global."
+ "The challenges are great, but NATO has been an anchor of stability for Europe and North America for almost 75 years. In a world of growing dangers, NATO will continue to protect our people, defend our democratic values, and keep our nations strong."
Western powers race to finish security pledges for Ukraine: Politico reports the US, Britain, France, and Germany are hoping to unveil a framework others can join at a NATO summit this week.
The Times: NATO urged to deploy permanent military force near Russian border
+ Alliance must stay strong in face of nuclear threat, says Lithuanian president
There’s a model for Ukraine’s future Euro-Atlantic integration: The Baltics WP - Oped
+ "We take note of President Volodymyr Zelensky’s ambition to transform Ukraine’s state institutions, to root out corruption, secure the rule of law — and make Ukraine open and transparent. These are high ambitions, but we are convinced that Ukraine has the potential to achieve these goals with our long-term support."
Large shares see Russia and Putin in negative light, while views of Zelenskyy more mixed Pew
+ Views of NATO remain favorable among member nations
+ A median of 82% of adults across 24 countries have an unfavorable view of Russia, while a similar share have no confidence in Putin to do the right thing regarding world affairs, including nine-in-ten or more in Poland, Sweden, Spain, Japan, South Korea, Australia, the Netherlands, Germany, France, the United Kingdom and the United States.
WP: Putin met with Wagner chief Prigozhin after mutiny, Kremlin says
Saudi National Bank reportedly offered to increase its stake in Credit Suisse to 40 percent before the Swiss bank collapsed, but was rebuffed by Switzerland’s financial regulator.
Geneva, a nest of Russian spies: Le Monde reports Western countries have expelled dozens of Russian agents under diplomatic cover since the start of the war in Ukraine last year, except Switzerland. Moscow is using the opportunity to increase its presence in the country.
Louvre to host Macron-Modi Bastille Day dinner: Le Monde reports the Indian prime minister is the guest of honor at this year's celebration of France's national holiday.
Reuters: US military deals not enough to wean India off Russian arms yet
Bloomberg: North Korea threatens to shoot down US spy planes
+ Pyongyang accuses US of ‘undisguised nuclear blackmail’
+ South Korean leader heading to NATO summit in Lithuania
WP: China speaks of ‘rainbows’ during Yellen visit, but girds for trade battle
China on brink of consumer deflation: FT reports the latest signs of economic weakness likely to spur calls for government stimulus measures.
Politics trumps trade in US and Mexico ahead of 2024 elections: Business groups complain neither government is abiding by USMCA dispute procedures. FT
+ “There has been a decision in both the US and Mexican governments to try to manage all the tensions until after the two elections,” said Claudia Ruiz Massieu, a Mexican opposition lawmaker who heads the Senate committee for USMCA implementation. She said USMCA had “lost strength” as a result.
Ron DeSantis doesn’t know whether he’s coming or going Gail Collins + Bret Stephens
In China, the era of Western carmakers is over: Foreign brands are losing market share to Chinese rivals, driven by local manufacturers’ lead in electric vehicles, as Beijing’s industrial policy begins to pay off. WSJ
+ Local brands captured 54% of China’s wholesale car market in the first six months of 2023, from 48% a year earlier, the China Passenger Car Association said Monday.
+ China’s auto revolution is being driven by its commanding lead in battery powered and plug-in hybrid cars—the only types of vehicle for which demand has been consistently growing.
+ Led by BYD, nine local manufacturers were among China’s 10 bestselling electric-vehicle makers in June, according to CPCA data. Tesla was the only foreign carmaker on the list.
+ “Japanese, American and European automakers all have this sense that they were too late to make the initial moves,” Honda’s Chief Operating Officer Shinji Aoyama said at April’s Shanghai auto show. “We’re now in a phase of trying our best to catch up.”
+ Volkswagen is pushing to develop more in China. It plans to hire 2,000 developers for a new center in China to speed up its product cycle, while its software unit plans to this year expand the head count of experts in China by 400 to 1,200.
+ BYD offers a range of models, including the Seagull, a four-seater electric hatchback with a starting price around $10,000, and an off-road SUV under its new luxury Yangwang brand that costs around $138,100. Startup Li Auto, stands out alongside BYD in growing plug-in hybrid sales.
+ While China has many EV brands, the market is likely to consolidate. Only 25 to 30 of more than 160 Chinese electric car brands are likely to remain in business by 2030, AlixPartners estimates.
+ Chinese carmakers are also going global. The country surpassed Japan in the first quarter of 2023 as the biggest exporter of vehicles, though about three-quarters of the 1.1 million autos shipped abroad were internal-combustion-engine models, Automobility data show.
Bitcoin could rally above $100,000 next year, as much as quadrupling its current value, according to an analyst at Standard Chartered.
CNBC: Twitter traffic is ‘tanking’ as Meta’s Threads hits 100 million users
Sarah Silverman and two authors are suing OpenAI and Meta for copyright infringement, accusing the companies of programming their AI networks using their work without compensation.
Sun Valley welcomes back a chastened class of media moguls The Wrap
Glencore boss considers the unthinkable: Spinning off coal: Gary Nagle faces growing shareholder concern over mining company’s climate plans. FT
+ “There is a role for coal, both steam coal and met [metallurgical] coal, in the world, as the world decarbonizes,” he said. “Steam [thermal] coal is needed to provide the baseload energy needs of today,” he added, while metallurgical coal is used for steelmaking as the substitute technologies are not yet available.
+ Glencore’s emissions are larger than many countries: it emitted 380mn tonnes of carbon dioxide equivalent last year — including both direct emissions from operations, and indirect emissions from sales of coal and other products. That is nearly on par with the UK’s emissions — 417mn tonnes last year — and greater than that of Spain.
+ Glencore is the world’s fourth-largest producer of copper, producing just over 1mn tonnes a year, and has plans to increase its production further.
Unknown: Killer Robots review – The future of AI will fill you with unholy terror: From headless robodogs to drone pilots who can outclass any human, watching the mesmerizing military tech on show here is to watch a terrible beauty being born – one that could annihilate us all. Guardian
+ The dilemma surrounding almost all military inventions – perhaps almost all inventions full stop – is what is slightly grandly called “the dual use problem”
The New York Times announced Monday that it plans to shutter its sports desk, relying instead on the Athletic, the subscription sports website it purchased last year, for most sports coverage. The Times will offer jobs elsewhere in the newsroom to current sports staffers, the company said, and plans to form a new team on its business desk focused on the business of sports.
Other sports faced Congress’s glare. Now golf will get its turn. A Senate hearing on Tuesday is just one part of Washington’s scrutiny of the PGA Tour’s deal with Saudi Arabia’s sovereign wealth fund. NYT
+ Senator Richard Blumenthal, the Connecticut Democrat who is the subcommittee’s chairman, said sports’ “central” role in American society makes them especially important for Congress to scrutinize. The proposed Saudi role in golf, he signaled, was too much for Congress to ignore.
+ “Suffice it to say, this hearing will certainly not be the last,” Blumenthal said. “We will have hearings after there is a final agreement, if appropriate, and there is a national interest in doing it.”
+ The Senate subcommittee’s goals for golf are, for now, unclear.
+ The panel cannot unilaterally block the deal from advancing, but members are well aware that a crush of revelations or damaging testimony could stir outrage and, perhaps more consequentially, nudge other parts of the federal government that could do more to stop the alliance.
Bloomberg: PGA Tour will tout minimal Saudi influence in golf merger at Congressional hearing
+ Senate committee is holding hearing on surprise sports tie-up
+ Top LIV officials won’t appear as US counterparts defend pact
FT: Qatar Investment Authority takes 5% stake in Washington Wizards owner
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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