Happy Friday morning.
Here’s today’s ITK Daily | Bulldog Edition.
To be ITK, know this:
TOP FIVE
1. Scholz in China — A day trip to a minefield
2. TikTok tells Europeans staff in China can access data
3. Are America’s politicians getting dumber
4. Letterman traveled to Kyiv to interview Zelenskyy
5. Qatar races to ready itself for an unusual World Cup
GLOBALIZATION + STATECRAFT
Why American power endures: The US-led order isn’t in decline. G. John Ikenberry
Made in America? Try Made in Democracy. John Austin + Elaine Dezenski
From Murdoch to Macron: Frédéric Michel, the Elysée's new head of PR: Le Monde reports the French president's new 'special communications advisor' is familiar with British and Italian politics – and with the Murdoch media empire, for which he lobbied.
Italy's new PM Meloni makes her first trip to Brussels: AFP reports Italy's new prime minister Giorgia Meloni is making her first foreign visit on Thursday as she heads to Brussels to meet with EU leaders, where Russia's war against Ukraine and the related energy, inflation, and economic crises will top the agenda.
The British ambassador brings her unique style to Washington: Dame Karen Pierce, the first female envoy from the United Kingdom, makes a colorful splash on Embassy Row: ‘Diplomacy is a contact sport.’ WP
Where Britain went wrong: How Britain became the sick man of Europe — again. Politico
The sovereign individual in Downing Street: In 1997, a business book predicted tech disruption, the alt-right, and the rise of the super-rich. Now, in Rishi Sunak, its Silicon Valley worldview has taken over No 10. New Statesman
Canada orders Chinese companies to divest stakes in lithium mines: FT reports Ottawa says it will ‘act decisively when investments threaten our national security.’
‘Xi Jinping Thought’ has only bad ideas for China’s economy: The leader-for-life is undoing decades of progress. Investors are right to worry. Mark Gongloff
China keeps the wheels on electric vehicles: Toyota has joined Tesla in tapping the country’s vast EV supply chain, showing just how indispensable it is. Anjani Trivedi
German chancellor’s China trip echoes mistakes made with Putin, critics say WP
Bad timing? Germany's Scholz heads to China amid debate over future relations: Le Monde reports the German chancellor said the way his country deals with China 'must change,' amid a wave of criticism from German politicians in the run-up to his trip.
Olaf Scholz in China — A day trip to a minefield: Partner? Competitor? Systemic rival? Germany's chancellor must find a balance on his trip to Beijing. When dealing with Xi Jinping's China, naivety is as ill-advised as hysteria. Matthias von Hein
We don’t want to decouple from China, but can’t be overreliant: Germany will seek cooperation where it lies in our mutual interest, but we will not ignore controversies either. Olaf Scholz
+ Olaf Scholz is the chancellor of Germany.
Germany ain’t decoupling from China anytime soon The Hill - Marc Ross OpEd
+ Goes live at 7:30 am ET
China-bashing will get Europe nowhere: The bloc needs to create an environment that will enable its companies to outcompete global rivals. Peggy Hollinger
Military briefing: Ukraine raid heralds new era of naval drone warfare: Thwarted attack on Black Sea fleet in Crimea highlights Kyiv’s ability to offset Moscow’s superior firepower. FT
+ Some 30% of respondents overall said in the new survey they believe the administration is doing too much to help Ukraine, up from 6% in a March Wall Street Journal poll.
Imran Khan shot in ‘assassination attempt’ in Pakistan: The Times reports one person dead and eight injured after gunman opens fire.
Lapid concedes in Israel, paving way for Netanyahu’s return to power: NYT reports after five elections in less than four years, Israel will have a stable government for the first time since 2019. But Benjamin Netanyahu’s coalition could test the constitutional framework and social fabric.
Even conservative estimates see fossil fuel use peaking soon: As negotiators head to Egypt for COP27, the good news is that the IEA sees a “definitive peak” for fossil fuels by the mid-2030s. The power sector may already be there. Bloomberg
DISRUPTION + INNOVATION
There has to be a better way to lose $800 billion: Intelligent failures in business are based on small bets. Meta bet the company. Ben Cohen
Alabama’s three largest newspapers to stop printing next year: WSJ reports Advance Publications to make Birmingham News, Huntsville Times, and Press-Register digital-only.
TikTok tells European users its staff in China get access to their data: Guardian reports privacy policy update confirms data of continent’s users available to range of TikTok bases including in Brazil, Israel, and US.
TikTok, YouTube, and Instagram take over the fashion economy: Le Monde reports brands are discovering the enormous potential of social media, which is expected to capture 25% of advertising spend across all sectors this year.
Bloomberg: JPMorgan executes its first DeFi trade using public blockchain
+ Banking giant uses Polygon and modified Aave for live trade
+ Firm explores decentralized finance for real-world assets
Call of Duty based some maps on real places. Not everyone was happy. WP reports one hotel is contemplating legal action. Another map resembling the Getty museum vanished from the game.
Airbnb knows it’s making too much money now: The company’s ‘Navy SEALs’ are winning. Maybe too much. Chris Bryant
Goldman flacks: Tony Fratto is the latest executive to head from the hilt of DC to the Goldman PR throne. Some notes on what he can learn from his predecessors. Puck
POLITICS + CAMPAIGNS
GOP congressional majorities would pivot to spending cuts, Biden probes: Republicans are hopeful but still divided over how exactly they will combat inflation and cut government spending. WP
‘Emasculating Vance is actually part of Tim’s effectiveness’: Ohio Senate candidate Tim Ryan may be Democrats' best messenger on the economy. But what voters like best are his fighting skills. Politico
The very long walk that changed Maine politics: In the summer of 1972, the little-known, 31-year-old mayor of Bangor set out on a walk clear across the state — from Gilead to Houlton to Fort Kent — in an improbable bid to convince voters to send him to Washington. Fifty years later, a new book looks at how Bill Cohen’s 650-mile campaign jaunt became not only a success story, but also a Maine political tradition and a high-water mark of a bygone era in American politics. Down East
Trump hasn’t announced a 2024 bid. But he’s acting like he’s running. WP reports the former president is holding a rally in Iowa and taking swipes at likely primary rivals, while his super PAC is running ads attacking Biden.
Profiles in ignorance — are America’s politicians getting dumber? In his illuminating and hilarious book, Andy Borowitz not only skewers political stupidity, he identifies its three key phases. FT
CULTURE
David Letterman recently traveled to Kyiv to interview President Volodymyr Zelenskyy for an upcoming episode of My Next Guest Needs No Introduction with David Letterman.
+ The standalone special will premiere later this year.
Variety: CNBC cancels Shepard Smith’s show amid business-news push
Musicians like me can no longer afford to tour. Live music won’t survive unless the industry changes: “Bands don’t get in the tour van because they think they’re going to get rich—but lately most of us aren’t breaking even.” Toronto Life
SPORT
Qatar races to ready itself for an unusual World Cup: The stadiums are set, the beds are not, and some locals wonder if this was worth $300bn. Economist
He’s coached the same team for 63 years, and he’s not retiring. He has a playoff game. An afternoon on the pitch with the New Jersey high school soccer legend Miller Bugliari. Jason Gay
Enjoy the ride + plan accordingly.
-Marc
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