Trump impeachment, Biden outreach and U.K. ghosts: Weekend Reads

Follow Us Get the newsletter The Senate is expected to acquit Donald Trump as soon as today in his second impeachment trial, despite lawmakers arguing the former U.S. president's tweets and speeches stoked anger that culminated in the Capitol riot he did nothing to stop. President Joe Biden, meanwhile, continued his outreach to global leaders, although his much-anticipated call with President Xi Jinping indicated U.S.-China relations aren't about to get a fundamental reset under the new administration. In the U.K., there has been an unexpected flare-up over Northern Ireland sparked by post-Brexit trade talks, with officials unable to resolve key disagreements. And in Italy, former head of the European Central Bank Mario Draghi was sworn in as Italy's prime minister, ending weeks of political gridlock and avoiding an election during the pandemic. Look deeper into these and other topics with the latest edition of Weekend Reads. — Ruth Pollard National Guard at the U.S. Capitol in Washington, D.C., on Feb. 10.  Photographer: Stefani Reynolds/Bloomberg 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's Next Economic Challenge: Getting Manufacturing Jobs Back Biden began his presidency promising to restore hope to a blue-collar middle class battered by decades of relentless job losses from automation and foreign competition. But, Shawn Donnan and Joe Deaux write, the realities of trying to stoke U.S. manufacturing employment in the wake of an economic crisis are quickly endangering his plans. Indifference Reigns in Trump World as Impeachment Trial Begins There were no bar specials at the hotel near the White House, just a menu that included cocktails called Belle of Congress and Bitter Life. As the Senate began Donald Trump's second impeachment trial on Tuesday, indifference reigned at properties across the billionaire's empire, Max Abelson and Sarah Holder report. House impeachment managers played a graphic video showing a violent mob of Donald Trump's supporters rampaging through the U.S. Capitol, Mark Niquette, Laura Litvan and Billy House report. The trial is headed toward a verdict, which requires a two-thirds majority to convict. Draghi Keeps Italy Guessing on Which Super Mario Will Emerge Mario Draghi's leadership of Italy's next government has people guessing about how much he will draw upon his prior roles when in office. The competing perceptions of a market-friendly banker or dirigiste savior of the euro loom large over his push to form a technocratic government, Alessandra Migliaccio explains. Bankrupted by Socialism, Venezuela Cedes Control of Companies Saddled with hundreds of failed state companies in an economy barreling over a cliff, the Venezuelan government is abandoning socialist doctrine by offloading key enterprises to private investors, Fabiola Zerpa and Nicolle Yapur report. It's too late for the more than 5 million Venezuelans who've left in a desperate attempt to avoid ruin. Up to a Million People Fleeing Hong Kong Might Suit China Fine China's relentless crackdown may have succeeded in crushing Hong Kong's protests and neutralizing the political opposition. But it's also doing something else: prompting many here to consider fleeing abroad, Iain Marlow writes. Protesters in Myanmar Appeal to China to Withdraw Junta Support Pro-democracy protesters in Myanmar appealed directly to Chinese President Xi Jinping to withdraw his government's support for the country's powerful military as mass demonstrations continued across cities and towns. They're facing off against security forces who've already used rubber bullets, tear gas and water cannons to push back demonstrators. Protesters with posters featuring Aung San Suu Kyi make three-finger salutes on Feb. 8 in Yangon, Myanmar.  Source: Getty Images AsiaPac EU Fights to Restore Faith in Leaders After Several Blunders When Ursula von der Leyen's foreign policy chief was humiliated by Russia's top diplomat in front of TV cameras, it capped a torrid few days. Battered by the bloc's torpid Covid vaccine rollout and an unforced error over export restrictions, von der Leyen was in a tough spot even before the embarrassment in Moscow, Ian Wishart reports. How a 'Mind-Blowing' Blunder Created a Dangerous Brexit Standoff Thirty years ago during Northern Ireland's sectarian conflict, gunmen botched an attempt to assassinate a young academic in Belfast. Adrian Guelke survived, and last week watched with astonishment as the European Union stirred up the tensions which almost cost him his life by threatening the part of the Brexit agreement that aims to protect the fragile peace in the region, Dara Doyle, Tim Ross and Joe Mayes write. The Political Events That Will Impact Emerging Markets in 2021 Elections are set to dominate the political calendar in emerging and frontier markets as investors' focus turns to how quickly governments are able to lift their economies from the global downturn, Farah Elbahrawy explains. Protests in countries from Russia to Brazil will also be closely monitored as traders assess shifts in the investment climate. Biggest Organized Crime Sweep in Decades Rocks Slovakia's Elite To outsiders, Slovakia is a model eastern member of the European Union. But as Radoslav Tomek and Michael Winfrey write, the former communist nation has long struggled with a dark side that is now being exposed in an organized crime purge driven by Igor Matovic, a former newspaper publisher who is now prime minister. And finally ... Lyudmila Shtein, a 24-year-old Muscovite and municipal deputy, is under house arrest until May and risks a two-year jail term for encouraging people to join a protest last month. She's among more than 11,000 people rounded up in the past two weeks after the biggest show of defiance toward President Vladimir Putin in years, Henry Meyer and Jake Rudnitsky explain. A rally in support of jailed opposition leader Alexei Navalny in Moscow on Jan 23. Photographer: Natalia Kolesnikova/AFP     Like Balance of Power? Get unlimited access to Bloomberg.com, where you'll find trusted, data-based journalism in 120 countries around the world and expert analysis from exclusive daily newsletters.   You received this message because you are subscribed to Bloomberg's Balance of Power newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022