Late to the game

Follow Us Get the newsletter President Joe Biden and Prime Minister Boris Johnson are preparing to rally the Group of Seven to do more to vaccinate the world against Covid-19. Fellow G-7 leaders could be forgiven for finding the U.S.-U.K. plan a little galling.  For sure, both countries are leading the way with their respective inoculation programs. The U.K. economy is mostly up and running, albeit with a new variant threatening to delay a planned full reopening on June 21. In the U.S., the pandemic is receding as a political issue. Shots are available at pharmacies for anyone who wants them. The New Yorker magazine's latest edition busies itself with the dilemma of how the reopening of restaurants and concert venues "requires relearning the steps of social and public life." Flush with domestic success, Biden and Johnson want G-7 leaders who start meeting in southwest England on Friday to make more shots available to low-income countries, Josh Wingrove reports. The U.S. is promising to become a global vaccine "arsenal," while the U.K. will pledge to help inoculate the world by the end of 2022. While the goal is bound to attract support, it would appear less hypocritical to those around the G-7 table if the U.S. and U.K. hadn't hoarded their vaccines until now. Germany, France and Italy devolved the procurement of vaccines to the European Union to ensure equitable access to shots across the 27-nation bloc. The EU has exported more than 300 million shots overseas, primarily to countries in Asia and Latin America and also to the Covax alliance targeting lower-income states. So before they attempt to assume the lead, Biden and Johnson are likely to be reminded of Europe's vaccine altruism to date. All the more so since G-7 members Japan and Canada are among the beneficiaries. — Alan Crawford People wait in line yesterday to register to receive vaccines in Caracas, Venezuela. Photographer: Gaby Oraa/Bloomberg Click here to follow Bloomberg Politics on Facebook and tell us how we're doing or what we're missing at balancepower@bloomberg.net. Global Headlines Far apart | Democratic leaders in the U.S. Congress face a narrowing path to pass Biden's $4 trillion economic agenda before the August recess. They may have to resort to the politically tricky tactic of using fast-track budget rules known as reconciliation because the president has made little progress in talks with Republicans. Biden released a multi-pronged strategy today to secure critical supply chains in products ranging from medicines to microchips. Ethnic focus | Chinese President Xi Jinping visited a western province neighboring Xinjiang and Tibet — regions where foreign governments and others say Beijing commits human-rights abuses against ethnic groups. The government must "advance ethnic unity and progress," Xi said in Qinghai. Nearly half of Qinghai's impoverished population is comprised of minority groups, the bulk of them Tibetan Buddhists and Muslim Hui. Lawmakers in China are making progress on legislation aimed at countering sanctions from the U.S. Read how China's "Wolf Warriors" are turning the world against Beijing. Escalating dispute | The EU is ready to consider tougher retaliation if the U.K. fails to implement its post-Brexit obligations over Northern Ireland, according to a bloc official. With talks due tomorrow, patience in Brussels is running thin over what the EU sees as the U.K.'s unilateral actions and threats. Johnson told French President Emmanuel Macron yesterday that the responsibility lies with both sides to find solutions. Change of heart | India's Prime Minister Narendra Modi announced free vaccinations for all adults, a reversal of a previous policy that forced states to compete with the private sector for scarce supplies for those aged 18 to 45. Prompted by criticism of his handling of the nation's deadly second virus wave and its botched immunization roll out, there is no indication India has anywhere near enough vaccines to fulfill his promise. The delta Covid-19 variant is the most infectious so far, with doctors in India reporting new symptoms, including hearing impairment, severe gastric upsets and blood clots leading to gangrene. Troubled times | Peru faces days of political uncertainty after Keiko Fujimori, the second-placed candidate in a tight presidential runoff, accused her leftist rival, Pedro Castillo, of election fraud and promised to fight until the very last vote is counted. Fujimori, the daughter of a jailed former president, said Castillo's party was "distorting or delaying" the results, without providing any evidence. Sponsored Content These cards feature $200 bonus offers and up to 3% cash back. PLUS no annual fee and no interest for 15 months. A long-time credit card writer says these are some of the best deals he's seen in his years of writing for top financial websites. Wise Bread What to Watch Israel's parliament will hold a vote on Sunday on whether to approve a new government cobbled together by opposition forces, potentially unseating Prime Minister Benjamin Netanyahu. G-7 nations need to be more proactive in defending democratic values which are coming under pressure around the world, European Council President Charles Michel says in an interview. Vice President Kamala Harris is expected to meet today with Mexican President Andres Manuel Lopez Obrador, who said yesterday that he would sign a migration agreement with the U.S. The Biden administration is supporting former President Donald Trump's position that he qualified as a government employee under a law that would let him dodge a defamation suit by a New York advice columnist who claims he raped her two decades ago. And finally ... South Africa's Covid-19 vaccine roll out has run for just over three weeks, yet efforts to inoculate two-thirds of the population this year are being hampered by a long-standing challenge: inequality. As John Bowker and Khuleko Siwele explain, people must register for a shot online or by mobile phone, potentially excluding those without the right technology. The plan also favors people with private health insurance, about 16% of the population, who tend to be higher earners. A healthcare worker administers a vaccine at an old age home near Klerksdorp on May 19. Photographer: Michele Spatari/AFP/Getty Images     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. 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