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U.S. in turmoil, while Covid-19 ravages Europe

Balance of Power
Bloomberg

Banned from Twitter, suspended from Facebook, and with mounting demands for a second impeachment trial, President Donald Trump is seeing no end to the fallout from the mob violence in the U.S. Capitol.

Amid those extraordinary scenes, it might have been easy to miss that the House managed to confirm President-elect Joe Biden's victory and just a day earlier, the state of Georgia delivered the U.S. Senate to the Democrats with two narrow runoff wins.

In Hong Kong, China's unprecedented arrest of dozens of leading opposition figures sent a stark message about just how far the balance of power had tipped back towards Beijing.

And the United Kingdom has once again found itself at the epicenter of Europe's coronavirus epidemic, with the country struggling through its third lockdown and its health service at the brink of collapse.

Dig into these and other topics with the latest edition of Weekend Reads. — Ruth Pollard

Pro-Trump supporters storm the U.S. Capitol.

Photographer: Samuel Corum/Getty Images

Click here for this week's most compelling political images and tell us how we're doing or what we're missing at balancepower@bloomberg.net.

Biden Reaps Best Georgia Prize: Democrats Running Congress
Democrats secured control of the Senate by the narrowest of margins, giving the president-elect a smoother path for advancing his nominees and legislative program. The incoming administration will need some bipartisanship if it plans to advance an aggressive agenda that includes creating a more robust federal response to the pandemic and a new stimulus package, Gregory Korte writes.

Trump Supporter Rage Simmered on Social Media Before D.C. Violence
In the more obscure corners of the internet, the calls for violence have been consistent among a subset of Trump's supporters in the months since he lost re-election. But as Daniel Zuidijk and Kartikay Mehrotra report, as Trump's attempts to delegitimize the election and remain in office failed, the violent rhetoric sharply increased.

Biden called the mob that stormed the U.S. Capitol "domestic terrorists" and pointed out they would have been treated much more harshly if they represented Black Lives Matter, whose previous protests were met with a massive show of force from police and federal officers. 

Europe's Contested Deal With China Sends Warning to Joe Biden
After more than seven years of negotiation with Beijing, the European Union's landmark deal with China landed with a thud. Ill-timed, unenforceable and naive were just some of the charges leveled at the Comprehensive Agreement on Investment concluded Dec. 30.

Beijing Sends Biden Stark Message with Hong Kong Crackdown
China's unprecedented arrest of dozens of leading Hong Kong opposition figures illustrates the depth of Biden's challenges with Beijing. By the time he becomes U.S. president, there might not be much democracy left to save in the Asian financial hub, Iain Marlow, Kari Lindberg and Natalie Lung write.

Hong Kong media tycoon Jimmy Lai was charged with foreign collusion under the city's sweeping national security law.

Photographer: Paul Yeung/Bloomberg

Gulf Arab States Agree to Restore Qatar Ties in U.S.-Backed Deal
Saudi Arabia and three other Arab states agreed to fully restore ties with neighboring Qatar after a sustained U.S. push for the countries to unite against Iran. As Vivian Nereim and Farah Elbahrawy explain, the breakthrough to end a dispute that erupted in 2017 came just two weeks before Biden takes office after pledging a new start with Tehran.

Can Johnson Defy Critics and Vaccinate 15 Million Britons in Time?
The U.K. is rushing to deploy vaccine shots fast enough to get its Covid epidemic under control, Emily Ashton, Suzi Ring, and Kitty Donaldson report. It comes as a "major incident" was declared in London as the country's daily death toll reached the highest level since the pandemic began and its health service staggered under the weight.

Britain's Prime Minister Boris Johnson watches as Jennifer Dumasi receives a dose of the AstraZeneca/Oxford Covid-19 vaccine on Jan. 4.

Photographer: Stefan Rousseau/AFP

U.K.-U.S. Race for Mini Trade Deal Slowed by Trump's Mob Crisis
The U.S. and the U.K. were racing to reach a limited trade agreement before the political crisis in Washington jeopardized plans to announce a deal. With less than two weeks in the Trump administration, the goal is still to resolve parts of a longstanding transatlantic dispute, Alberto Nardelli, Jenny Leonard, Eric Martin, and Bryce Baschuk explain.

Maduro Retakes Venezuela Assembly, Cementing Control
Venezuelan President Nicolas Maduro installed a new National Assembly filled with loyalists, consolidating his power over key institutions in the crisis-torn nation despite mounting U.S. sanctions. As Alex Vasquez writes, since taking over in 2013, Maduro has resisted efforts to force him out, presiding over a precipitous deterioration of the oil-rich country.

Australia's Influence in Pacific Islands Grows as China's Wanes
Australia is moving to boost ties with small island nations off its coastline, pushing back against China's growing influence in the Pacific Ocean. As Jason Scott reports, the battle comes after China hit Australia with a series of damaging trade reprisals following Canberra's decision to seek an independent investigation into the origins of the coronavirus.

And finally ... Corporate America is parting with its CEO president — carefully, Jeff Green writes. Four years after Trump swept into the White House, cowing executives and shaking markets with tweet storms and tantrums, corporations that applauded when he cut taxes and red tape are struggling to come to grips with the havoc that's now followed.

Trump speaks at the 'Stop the Steal' rally on Jan. 6.

Photographer: Tasos Katopodis/Getty Images North America


 

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