Flagship

US world order under threat

The U.S. faces an “increasingly fragile world order” in which its adversaries — China, Russia, Iran, and North Korea — are working together more and more, top intelligence officials said. The annual assessment noted an array of challenges, including sprawling regional conflicts and weakening nuclear non-proliferation efforts, but focused on the issues posed to Washington by growing Beijing-Moscow economic and security cooperation. The report said the challenge to Israel from Hamas would persist for years, that Iran did not play a role in orchestrating the militant group’s Oct. 7 attack on Israel, and that Yemeni Houthi attacks on Red Sea shipping routes could escalate. It also predicted that Israeli Prime Minister Benjamin Netanyahu’s government “may be in jeopardy.”

Sweden ready to fortify island

Sweden is prepared to reinforce Gotland, a large island in the Baltic Sea viewed as a critical vulnerability in a possible Russian invasion. Historically neutral Sweden joined NATO last week and Prime Minister Ulf Kristersson told the Financial Times that Gotland, dubbed a “giant aircraft carrier,” is an “obvious” point of discussion with its new allies. Russia’s militarization has pushed Europe to band together: Every nation with a Baltic coast save Russia itself is now a NATO member, leading to Latvia’s foreign minister calling it “NATO Lake,” and the European Commission is expected to recommend that talks begin to accept Bosnia and Herzegovina into the European Union, in the face of Russian-backed opposition within the country.

Biden outlines $7.3 trillion budget

U.S. President Joe Biden proposed a budget that analysts said offered a roadmap for what a potential second term in the White House would focus on. The document offers tax breaks for families, promises lower health care costs, and would raise taxes on companies and the rich, all while cutting the federal deficit. The proposed spending hinges on the outcome of this year’s election, so “it’s probably best to take Biden’s budget as a signal that Democrats think it will be politically popular to pair big new social spending with deficit reduction rather than a precise guide for how to do it,” Semafor’s Jordan Weissmann notes in today’s Principals.

100 new species found off NZ coast

Scientists discovered around 100 new marine species in a single three-week expedition off the coast of New Zealand. The Bounty Trough, a 500-mile deep-sea trench east of the country’s South Island, has been largely unexplored: The crew of the research vessel Tangaroa used traps, nets, and underwater sleds to sample the water. Among their discoveries were new species of fish and an unknown creature that looks a bit like a starfish but may be of an entirely new class of life. Finding 100 species may sound like a lot, but our ignorance of the deep ocean is near-total: Ocean Census, the team behind the project, estimates that barely 10% of marine species have been classified so far.

Nationalists boycott Chinese water firm

China’s largest bottled water company was targeted online by nationalists over its use of Japanese imagery and its founder questioned over his lack of patriotism. The furore has wiped some $4 billion off Nongfu Spring’s market capitalization, and stores nationwide have stopped stocking the firm’s products. The controversy highlights long-running anti-Japanese sentiment in China, as well as sky-high expectations of Chinese entrepreneurs, both of which analysts say are long-term risks. Nongfu Spring’s travails are only the latest in a series of episodes in which nationalists’ anger has veered towards otherwise respected figures: A Nobel Prize-winning author has been targeted for legal action over purportedly insulting China’s military, while the elite Tsinghua University was criticized — counterintuitively — for not having been sanctioned by the United States.

China’s changing EV industry

Chinese smartphone maker Xiaomi will start selling electric vehicles this month. The tech giant said it has 59 stores in 29 cities ready to take orders for its new high-end SU7 car. Growth in Chinese domestic EV demand has slowed, but its export market is booming: Chinese car exports went up 18%, with EVs making a quarter of that total, and BYD, the world’s largest EV maker, saw record overseas sales. Europe and the U.S. have imposed tariffs on Chinese EVs, but the boss of Mercedes-Benz called for them to be lowered, saying that increased competition would improve Europe’s own industry. Reducing tariffs will lead to “better product, better technology, more agility,” he told the Financial Times.

Haiti PM resigns as violence spirals

Haitian Prime Minister Ariel Henry agreed to resign after crisis talks and mounting violence across the island nation. One of the country’s most powerful gang leaders had previously threatened “civil war” if Henry — who rose to power unelected after the assassination of former leader Jovenel Moïse in 2021 — did not step down. Haiti has spiraled into chaos since Moïse’s death, with some experts now considering the country “a failed state.” Although foreign interventions are unpopular in Haiti, regional leaders including U.S. Secretary of State Antony Blinken met yesterday in Jamaica to discuss a troop deployment to quell unrest and allow elections. Meanwhile Kenyan officials said a mission to send 1,000 police officers to Haiti was in a “pre-deployment stage.”

Sen. Michael Bennet; Sen. Ron Wyden; John Waldron, President & COO, Goldman Sachs; Tom Lue, General Counsel, Google DeepMind; Nicolas Kazado, Finance Minister, DR Congo; and Jeetu Patel, EVP and General Manager, Security & Collaboration, Cisco have joined the world class line-up of global economic leaders for the 2024 World Economy Summit, taking place in Washington, D.C. on April 17-18. See all speakers and sessions, and RSVP here.

Leaders meet over DRC-Rwanda crisis

The leaders of Rwanda and the Democratic Republic of Congo agreed to meet to discuss the ongoing crisis in eastern DRC. Officials in Kinshasa have long blamed neighboring Rwanda of backing the M23 rebel group that has destabilized swaths of DRC, leading to thousands of deaths and millions of people being displaced. Last year, Congolese President Félix Tshisekedi went as far as comparing Paul Kagame, Rwanda’s leader, to Adolf Hitler for his “expansionist aims” over mineral-rich provinces in Congo. The rapprochement may draw attention to one of the world’s worst humanitarian crises, which aid agencies say has largely gone unnoticed, having been overshadowed by the wars in Gaza and Ukraine.

Murdoch may join Telegraph bid

Rupert Murdoch’s News Corp. and a UAE-backed investment fund discussed a potential joint takeover of Britain’s Telegraph, Bloomberg reported. RedBird IMI, the Emirati-backed group, has been in talks for some time to buy the 169-year-old newspaper, but British politicians are concerned about foreign ownership of a major media outlet. The joint bid, also involving the owners of the Daily Mail, might ease those concerns by limiting RedBird to a smaller stake. The newspaper is up for sale after its owners fell behind on debt payments and had assets seized. RedBird’s attempted purchase, which would also have included The Spectator, the world’s oldest surviving weekly magazine, may lead to legislation making it harder for foreign states to buy British media businesses.

Barcelona considers in-house fashion

Barcelona, one of the world’s biggest soccer teams, is expected to end its 25-year association with Nike after accusing the sportswear giant of breaching its contract. The deal brings around $114 million a year for the club, but Barcelona President Joan Laporta said it could receive “double” that from a new deal. It’s a fresh blow for Nike, recently criticized for low-quality offerings, including semi-transparent pants for Major League Baseball players. It also may signal a startling new mode of business for Barcelona: Laporta indicated that the club might bring retail operations in-house, giving it control over the hugely profitable business of selling replica jerseys to fans. If that doesn’t materialize, Nike rival Puma is ready to step in, The Daily Mail reported.

• The 11th annual World Ocean Summit is underway in Lisbon.
• German train drivers go on strike.
• The Cheltenham Festival, an annual British horse-racing event, begins.

The number of bananas imported into the U.K. each year. The banana, conveniently hand-sized and with its own wrapper, is the world’s most exported fruit: Its ripening can be slowed and sped up to smooth out supply chain fluctuations. But climate change and the spread of a fungal disease which affects the Cavendish banana, the dominant strain, threaten to push global prices up, the BBC reported.

The homely rice pudding is finding its way into restaurant menus. The perennial global dessert — from kheer in South Asia and arroz con leche in Mexico to sholeh zard in Iran — is also inspiring new incarnations. It can now be found in cronut form, lining a flan, and even frozen into a popsicle, Eater reported. “People often align themselves with the dueling schools of chocolate desserts or fruit desserts, leaving rice pudding in an awkward, less prominent in-between,” Bettina Makalintal wrote, arguing that it may finally be commanding the respect it deserves.

• A former CNN chief has found himself in an escalating personal battle with a bombastic Tory grandee over control of a British newspaper.
• Will the son of Uganda’s dictator run for president? Our Global Election Hub has the latest.
• Ramadan in Gaza is characterized by mounting starvation.