This weekend we're bringing you Stephen King versus Shakespeare, Trump's economic brinkmanship, billionaire-backed babies and the precarious Pokémon card boom.
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Ripple Effects
Sometimes actions produce the opposite of the desired outcome. In this weekend's interview Wendy Sherman tells Bloomberg's Mishal Husain that Trump's attempted displays of American strength have actually cost the country its strongest alliances. She warns the conflict has pushed the UK and Canada to hedge toward China, and will increase Iranian defiance while reducing pressure on Russia.
How to Negotiate with Iran
Wendy Sherman, the former US deputy secretary of state and architect of the 2015 nuclear deal, says the current situation in Iran is harder, riskier and strategically misjudged.
One anxiety of Sherman's is how Trump has weakened himself in China's eyes. The US president has once again misjudged his leverage over an adversary, and now, China may be the geopolitical and economic beneficiary of Trump's actions in Iran, says Bloomberg's Jenni Marsh. And recent confrontations may have another unintended consequence - teaching weaker powers that even a small amount of leverage in global trade can be a powerful weapon, if wielded correctly.
Trump Stumbled Into a Global Economic War. Xi Jinping Was Ready
As the US and Chinese leaders prepare to meet, the Iran conflict underscores Beijing's resilience and the limits of Washington's leverage.
The most visible unintended consequences often come from disrupting large, complex systems. Climate change brings obvious ripple effects -- storms, heatwaves, fires -- but the next capillary wave reshapes daily life. In the summer of 2022, a heatwave in Spain hit olive oil production, an everyday staple. In the UK, extreme heat reduced chicken output by 9%, pushing up the cost of the traditional Sunday roast. Meanwhile, northern Italy faced its worst drought in 70 years, leading to a shortage of risotto rice - and central bankers are taking note.
Climate Change Is Already Showing Up in the Cost of Living
Economists and central bankers are getting better at linking temperatures to price increases.
Sometimes ripple effects prompt unexpected interventions. In parts of Asia where birthrates are falling, billionaires are stepping in with subsidies to encourage people to have children, echoing pro-natalist voices like Elon Musk and Peter Thiel in the US. But the efforts can be targeted, with some of the subsidies only available to Ph.D. students or similar. "You want educated people who understand the world, technology and ethics," says billionaire James Liang.
Asia's Billionaires Are Bankrolling A Push For More Babies
From Hong Kong to Seoul, tycoons are offering cash and perks to boost birth rates, testing whether private wealth can succeed where governments have struggled.
The Multibillion-Dollar Pokémon Card Boom
Wherever fortunes go, desperation, theft and crime soon follow. What started as a nostalgia play is turning into something closer to a speculative market, with the vast rewards, and unexpected perils, that come with it.
Brain Scanners in the 'Middle of Nowhere'
New brain scanners the size of astronaut helmets could bring futuristic healthcare tech to the world's most remote regions. They have the potential to transform stroke care, but questions remain over accuracy and whether doctors are willing to trust it.
The Bard and The King (of Horror)
What has given both Shakespeare and Stephen King such staying power? In a new review, one Shakespeare scholar places the two writers—and their instinctual understanding of what haunts the human psyche—in conversation (and will change how you will understand airport novels forever).
Conversation Starters
Who is calling the shots, really? A quiet shift in US economic policy is already underway, with the US Treasury subtly taking on decisions historically made by the Federal Reserve. What some are calling the "stealth accord" could increase risks in the US financial system if, and when, volatility returns.
Shifts are the name of the game these days - and in the EU, the shift is away from the neoliberal model, characterized by the free markets and globalization that shaped the last few decades of policy. But that could mean the EU is also about to get more interesting.
"The people looking for a globalist elite aren't entirely wrong, right?"
-- Michael Wernick, former government worker
Mark Carney's C-Suite Inner Circle Is Selling The World On Canada
Facing economic strains and tensions with the US, the prime minister is relying on a tight-knit group of allies to make trade deals and streamline government.
Is It Worth It?
A $700 bottle of American Whiskey that cost $1,600 a mere 2 years ago: Wait for a better deal! There's a glut, so (selectively) buy the dip, our writer argues, focusing on bottles you'd actually like to drink.
A $325, 23-course tasting menu in rural Spain: Do you like to be happy? Spain-loving tourists, fatigued by hordes of summer visitors, are turning to Extramadura for a slower pace of life. With a reputation for being "dry, flat and desolate," where a few years ago "you were less likely to encounter a tour group than a troop of pigs eating acorns," the region is gaining popularity as a glimpse into unspoilt, classic Spanish culture.
Canada: Yes! Americans are heading to visit their northern neighbor at an astounding rate, attracted by its peaceful non-US vibe, Heated Rivalry-cottage adjacency, and epic wilderness.
What Everyone's Reading
One Last Thing
"Boris Johnson sacrificed the party's reputation for moral authority, and Liz Truss sacrificed the party's reputation for economic competence."
Britain's Conservatives have survived for centuries by reinventing themselves, but after a historic electoral collapse, defections, and a shrinking base, the party is struggling to stay relevant -- despite the deep unpopularity of their main rivals. Voter disillusionment is rising, and as one former politician put it, the party of Thatcher is now "a defunct brand".