Happy Sunday.
Here’s today’s ITK Daily.
To be ITK, know this:
China has a $43,000 wealth gap problem: Bloomberg reports China is no monolith. While residents in Shanghai and Beijing are almost as well off as those in Switzerland by some income measures, parts of the country live more like they were in Guatemala.
COVID protests erupt in Xinjiang: WSJ reports China’s COVID-19 restrictions became the focus of protests after a deadly fire enraged city residents who have struggled with lockdowns of more than 100 days.
Protests erupt in China's Xinjiang over 3-month COVID lockdown: Nikkei reports anger boils in the remote region after blaze in locked-down apartment kills 10.
I have a standing bet regarding how long Team Shanghai will put up with Team Beijing.
Do we think Team Shanghai will deal with Team Beijing forever?
China cold war more dangerous than US-Soviet rivalry: Safety valves needed to prevent minor miscues from turning into a major war. Nikkei
SCMP: DPP’s Tsai offers to resign as chief as KMT wins big in Taiwan polls
+ Early results indicate the main opposition party has won four of six key municipalities
+ Observers say results are a poll on the administration’s handling of COVID-19
Taiwan's Tsai quits as party leader after heavy local election losses: Nikkei reports the opposition KMT retakes major cities in a string of victories on Saturday.
Nine months of war in Ukraine in one map: How much territory did Russia invade and then cede? According to estimates, Moscow controlled 25% of Ukrainian territory in March, compared to about 15% currently. Le Monde
Forget virtue signaling: This World Cup is a magnet for deals in the desert: Politicians, royalty, and even Ivanka Trump are enjoying lavish hospitality in Qatar. It all adds up to a home win for the Gulf state. The Times
Chevron gets new license to pump oil in Venezuela again: WSJ reports it was granted after Venezuelan President Maduro’s government and an opposition coalition agreed to implement a humanitarian program and continue talks on efforts to hold free and fair elections.
Is Rishi Sunak a pushover? Branded ‘weak,’ the prime minister plans a mini relaunch by talking tough on Brexit, migration, and eco protests. But he still has to strongarm his own MPs. The Times
Rishi Sunak is trapped in a Tory civil war: The Conservative Party has broken into antagonistic camps. Can a conflict-averse prime minister quell the rebellions rising around him? Martin Ivens
A rising star in the Biden administration faces a $100 billion test: Gina Raimondo, the commerce secretary, has made a career of tackling increasingly larger challenges. Could the next one be too big? NYT
A record number of women were elected governor in 2022: Twelve women won bids for governor in the midterm elections, and some have gotten attention as possible presidential hopefuls. WSJ
Newsom told the White House he won’t challenge Biden: The would-be pursuer of Trump and DeSantis is "all in" for the president’s reelection and willing to wait his turn. Politico
Europe is the fastest recovering tourism region in the world: Meanwhile a handful of destinations in Africa and the Americas are blowing past 2019 levels, according to the UN’s chief tourism body. Bloomberg
WSJ: $90 million asking price for Fisher Island penthouse would be a record sale
FT: Miami nightclubs mourn absence of high-rolling crypto entrepreneurs
Would you buy a made-in-China electric car? They’re coming. China is already a major manufacturer of electric vehicles for its own market. Now it's starting to export to the US and Europe. WP
Honda's new humanoid-robot push aims for practical use: Focus on hands over legs underscores emphasis on utility. Nikkei
The number of songs uploaded to music streaming services each day:
2022: 100,000
2021: 60,000
2019: 40,000
2018: 20,000
Source: Music Business Worldwide
Taylor Swift is perfect at the three-minute Spotify song: The length of pop singles has fallen in recent times, but Mozart and Puccini also charmed listeners with short arias. John Gapper
Coinbase’s Brian Armstrong: ‘I’m just as bullish on crypto as ever’: The founder-CEO on his enduring belief in blockchain, his ‘no politics in the workplace’ policy, and why the solution to crypto chaos is . . . more crypto. FT
The robot tractors are coming, just as soon as we crush a few bugs: A plucky team from a small English agricultural college tackles one of the hardest challenges in tech. Bloomberg
A bot that watched 70,000 hours of Minecraft could unlock AI’s next big thing: Online videos are a vast and untapped source of training data—and OpenAI says it has a new way to use it. MIT TR
Apple’s China strife is a problem of its own design: The company’s unhealthy reliance on China is unsustainable and needs to be tackled head on. Tim Culpan
MIT Sloan reading list: 7 books from 2022 MIT
Casablanca at 80: A golden age classic that remains impossible to resist: The involving and affecting romantic thriller is a sterling example of collaboration and how the studio system can often excel. Guardian
WP: For the young USMNT, it’s ‘we win, we’re in’ at the World Cup
Operation Argo: What is Ben Affleck doing Tuesday?
Gianni Infantino, global football’s unrepentant boss: The FIFA president has been steadfast in his defense of the World Cup’s Qatari hosts. FT
The Times: Mbappé proves himself hottest property in Qatar with double to see off Denmark
Kylian Mbappe takes on the weight of his world: Winning the World Cup at 19 and becoming the world’s most expensive player by 23 comes with the spotlight and intense scrutiny. And the France star is ready for more. SI
Kylian Mbappé is coming for it all: In a rare interview, the French soccer star discussed chasing the Champions League title, supplanting his teammate Lionel Messi as world player of the year, and the possibility of a move to Real Madrid. NYT
The Rocky Mountains for Coach Prime? Reports suggest the University of Colorado has offered its head coaching job to Deion Sanders.
Enjoy the ride + plan accordingly.
-Marc
Caracal produces ITK Daily.
Caracal is a geopolitical business communications firm specializing in global business issues at the intersection of globalization, disruption, and politics.
Caracal believes that to be a world-class geopolitical business communicator, you need global street smarts coupled with holistic, high-frequency, and high-low communications.
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