In this latest issue of my weekly podcast, we discuss the future of Biden's agenda. Last week, the White House officially unveiled its $2T infrastructure package. The plan is popular among the public, and due to reconciliation, it only needs 50 votes to pass the Senate. Biden will also try to pass a minimum wage increase, a voting rights bill, and immigration reform. But these bills can't be passed through reconciliation and will need 60 votes to bypass the filibuster. While their chances of success are slim at best, Biden may take the most popular bill--a higher minimum wage, properly tailored to meet the objections of Senator Joe Manchin--and throw it in the face of Majority Leader Mitch McConnell just in time for the 2022 elections.
Retailers scramble over human rights. After Nike and H&M criticized China's internment of Uyghurs, the Chinese government rallied boycotts against the two brands. Other companies have now taken softer stances on human rights to try and appease the Communist Party. Though there is also the risk Western consumers will punish brands that don't take a definitive pro-Uyghur stance. Much of this drama will play out over sponsorship deals in the 2022 China Winter Olympics.
Netanyahu tries to form a new government. In the fourth consecutive election, there is still no clear coalition government. Netanyahu, now on trial, has been given the first chance at forming a government. Most analysts suspect the country is headed for a fifth election.
Americans grow cold on China. Fully 89% of Americans now consider China a competitor or an enemy rather than a partner. The negative sentiment is higher among Republicans than Democrats, but negative perceptions have risen equally among both groups since 2018.
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