Happy Wednesday Morning.
Here’s today’s ITK Daily | Bulldog Edition.
To be ITK, know this:
TOP FIVE
1. Germany struggles with its dependency on China
2. TikTok killed the pop star
3. Cooks, waiters, and casino workers could swing the Senate
4. The meteoric rise of CNN’s Kaitlan Collins
5. How finding purpose lifts performance
GLOBALIZATION + STATECRAFT
Jerusalem Post: Netanyahu predicted to win Israel election, but Balad's rise could stop Right's victory
+ Netanyahu's bloc wins 61-seats
+ Lapid fails to reach the majority
+ Balad said to be close to the threshold. If it passes, the Likud bloc drops
Haaretz: Israel election exit polls: Netanyahu secures razor-thin majority, shock triumph for far right
WP: Bolsonaro doesn’t concede loss to Lula but allows transition to begin
Bolsonaro vows to respect constitution after loss: WSJ reports the chief of staff to Brazilian President Jair Bolsonaro says he is authorized to begin the transition to Luiz Inácio Lula da Silva’s administration, although the incumbent hasn’t conceded.
Bolsonaro blinks Vincent Bevins
Colombia’s new president meets with Maduro as Latin America moves left WP
Geopolitics is the biggest threat to globalization: The consequences of a great power rupture may be even worse now than during the cold war. Martin Wolf
We must prepare for the reality of the Chip Wars: The question of how far decoupling will go depends on China’s next move as well as the extent of new US rules. Rana Foroohar
US pushes Japan and other allies to join China chip curbs: Nikkei reports Tokyo weights similar restrictions, prompting concern among equipment makers.
Japan cannot survive without Russian oil, warns trading house chief: FT reports the head of Itochu says there are ‘all kinds of ways’ Moscow can continue to export energy despite sanctions.
Lessons in market panics from Xi Lizping: Capital flight vs capital fight. FT
Mexico-on-Thames: The UK needs less nostalgia for its imperial history – and just get on with it. FT
+ Boris Johnson has confirmed he will attend COP27 in Egypt next week as question marks remain over whether Sunak will join him.
Bloomberg: Russia’s invasion of Ukraine moves toward ‘war of drones’ as winter looms
+ Putin links grain deal suspension to attack on missile fleet
+ Exhaustion, as much as weather expected to slow the ground campaign
Germany struggles with its dependency on China: Olaf Scholz’s government promised a tougher approach to Beijing. But Berlin is divided on how far it should try to decouple its economy. FT
Into the tiger’s mouth: Olaf Scholz enters the widening gulf between China and the West: This week, the German chancellor will visit China, the first European leader to do so in three years, but observers fear Germany is repeating past mistakes by relying too heavily on an autocratic superpower. The Times
Did Germany learn from its Russia trouble? The test may come in China. On the eve of Chancellor Olaf Scholz’s first trip to Beijing, concerns are growing that economic dependence on China is leaving his country vulnerable — again. NYT
+ “People always talk about how China is a big market — no, China is a huge economy with a small accessible market." -- Jörg Wuttke, the president of the European Union Chamber of Commerce in China
How China lost America Thomas L. Friedman
The world according to Xi Jinping: What China’s ideologue in chief really believes. Kevin Rudd
The Asia-Pacific Regional Security Assessment 2021 is the eighth in a series of publications covering vital strategic, geopolitical, economic, military, and security trends in the Asia-Pacific. IISS
+ In September, North Korea passed a law declaring itself a nuclear-weapons state.
DISRUPTION + INNOVATION
The importance of having a re-founder mentality and empathy Hakan Ozsancak
The cold dose of reality awaiting Elon Musk: Twitter’s new owner faces a difficult regulatory landscape around the world. Evelyn Douek
US exploring whether it has authority to review Musk’s Twitter deal: WP reports the terms of the deal give large foreign investors access to confidential information about the social media platform.
Of course instant groceries don’t work: Obstacles include: space, time, and reality. Amanda Mull
Microsoft reportedly hasn’t offered any remedies to EU antitrust authorities investigating its $69 billion deal to buy Activision.
CNN: US banks report more than $1 billion in potential ransomware payments in 2021
TikTok killed the pop star: Each year, fewer and fewer new pop stars are cracking the top 10—Taylor Swift notwithstanding. The fracturing of the pop music landscape and the dilution of monoculture in music. The Ringer
TikTok is currently in negotiations with CFIUS.
+ "I don’t believe there is a path forward for anything other than a ban," FCC commissioner Brendan Carr said, citing recent revelations about how TikTok and ByteDance handle US user data.
Forget free coffee. What matters is if workers feel returning is worth it. Commutes are still painful, readers say. And it’s hard to give up the joys of working from home. But many of those who have gone back to the office say they like it. NYT
Bank of America told its traders that they can work remotely — for only two days each month.
The push to scale plant-based plastics: FabricNano says it has found an affordable way to swap petrochemicals for plants and proteins. Wired
Miami’s first supertall tower breaks ground: WSJ reports the 100-story building requires special foundations and a pendulum-like device to prevent swaying.
POLITICS + CAMPAIGNS
Biden quietly but clearly prepares a potential reelection bid: The president and his wife have been meeting with a small group of advisers to pave the way for a 2024 campaign. WP
In the midterms, Democrats occupy the left bank of denial: From inflation to crime, they refuse to acknowledge the problems they helped create. Voters are noticing. Gerard Baker
WSJ Poll: Republicans have regained momentum since then and now hold a slight edge over Democrats, 46% to 44%, when voters are asked which party they would support in their congressional district if the election were held today.
AP: On election eve, the state of the US economy is a blurry one
These cooks, waiters, and casino workers could swing the Senate: Hospitality workers enjoy unusual clout in Nevada, where the powerful Las Vegas culinary union is rallying members to tip close races. NYT
+ “Control of the US Senate will be decided next week in cross-pressured states where most voters disapprove of President Joe Biden’s performance but also express unfavorable views about their state’s Republican Senate nominee.” -- Ron Brownstein
I helped run the ‘Fire Pelosi’ effort. Our toxic politics goes too far. Doug Heye
+ “Liz Cheney and I are not courageous. There’s no strength in this. We’re just surrounded by cowards.” -- Rep. Adam Kinzinger (R-IL)
+ Rep. Liz Cheney (R-WY) endorsed Rep. Tim Ryan (D) over JD Vance (R) in the Ohio Senate race.
Trump and DeSantis plan dueling Florida rallies as rivalry builds: NYT reports former President Donald J. Trump and Gov. Ron DeSantis of Florida, who is viewed as his most likely political challenger, planned competing campaign events.
CULTURE
The White Lotus returns for a second season of luxury hotel-based lust and mystery: Jennifer Coolidge reprises her star turn in Mike White’s comedy-drama, this time shifted from Hawaii to Sicily. FT
The meteoric rise of CNN’s Kaitlan Collins: At 30, the broadcast journalism prodigy leaves the White House beat for a bigger challenge: boosting the lagging ratings for CNN’s morning show. WP
The too-much of Bono: In Dublin with the irrepressible U2 frontman. David Brooks
SPORT
Basketball’s top shrink on how finding purpose lifts performance: William Parham says self-reflection can help workers across industries deal with emotional baggage. Bloomberg
Ross Chastain’s crazy wall-ride pass earns him a shot at a NASCAR title: The driver of the No. 1 Chevrolet used a move straight out of a video game to pass five cars in the final corner, securing him a spot in the final playoff race. Car + Driver
The Final Score: The Final Score is a miniseries about the rise and fall of Colombian soccer and Andrés Escobar between 1987 and 1994. The difficult situations and decisions that our idols had to face match after match, as they fall apart amid a violent nightmare. But, above all, it’s about the dream of a country and a team that will be remembered forever. (Trailer) Netflix
Teams through to the Champions League round of 16:
Bayern (GER)*
Benfica (POR)
Chelsea (ENG)*
Club Brugge (BEL)
Dortmund (GER)
Frankfurt (GER)
Inter (ITA)
Liverpool (ENG)
Man City (ENG)*
Napoli (ITA)*
Paris Saint-Germain (FRA)
Porto (POR)*
Real Madrid (ESP)
Tottenham (ENG)*
+ *Confirmed as group winners
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Founder + Team Principal @ Caracal
Caracal produces ITK Daily.
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Clients are Chief Communications Officers with global responsibility who rely on Caracal for help navigating today's interconnected business environment with geopolitical intelligence, strategic planning, and economic diplomacy.
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