A time for patience

[Bloomberg]( Follow Us //link.mail.bloombergbusiness.com/click/20823857.86493/aHR0cHM6Ly90d2l0dGVyLmNvbS9icG9saXRpY3M/582c8673566a94262a8b49bdB614fcfab [Get the newsletter]( It’s a race where no one wants to [hold the record](. India has now overtaken Russia to have the third-highest number of Covid-19 infections. Iran, South Africa and Indonesia have had their worst death tolls, with recent record daily cases in America. Parts of Spain are back in lockdown. In Australia, a spike in infections has seen the two most populous states [close their mutual border]( for the first time in a century. Every time the virus starts to look tired out in one country, it revs up in another. Governments face the daunting task of trying to guess when the worst is over as they watch their economies sink and debt pile up. Many need to [act out of necessity]( to have businesses open. Migrant workers and those in the informal sector don’t get much direct support, anyway — what they need is work. Some countries are welcoming tourists again, including from overseas. For several leaders there’s also a political calculus as people object to being locked down, or even to wearing masks. But open too far or too fast, and the virus cranes its neck and [circles around]( for another go. In London last weekend the ability to sit in a pub or a restaurant again saw excited crowds pour into central areas, even as Prime Minister Boris Johnson [warned]( “we are not out of the woods yet.” Hordes also packed British beaches just a few weeks back. Many are simply sick and tired of lockdowns. But overcoming the virus remains a marathon, not a sprint. The biggest task for governments across the globe might be convincing people to be patient. — [Rosalind Mathieson]( Customers sit at tables outside cafes and bars on Old Compton Street in central London on July 4. Photographer: Simon Dawson/Bloomberg Tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines [On the rise]( | Skyrocketing virus cases [in Arizona](, Florida and other key 2020 battleground states — coupled with shifting attitudes about the disease and Donald Trump’s handling of it — could spell more trouble for the president’s re-election effort, [Mike Dorning]( and [Gregory Korte]( report. A slide in support for the president has coincided with him eschewing talking about the virus and masks to focus almost entirely on reopening. - Trump will [hold an outdoor rally]( in New Hampshire on Saturday, with face coverings “strongly encouraged,” after months of skepticism about the value of wearing masks. - Former National Security Adviser Susan Rice, viewed as a possible running mate for Democratic presidential challenger Joe Biden, [accused Trump]( of doing Russian President Vladimir Putin’s bidding. [Critic detained]( | China arrested one of President Xi Jinping’s most prominent critics as it [moved to]( crack down further on political threats. Xu Zhangrun, a law professor who published a book criticizing Xi and the Communist Party, was taken by police from his house in a Beijing suburb, one of his friends told Bloomberg. The Foreign Ministry said it had not seen the reports of his arrest. [Who dunnit?]( | Iran says it’s withholding conclusions over the cause of a fire at its Natanz nuclear facility last week for security reasons. It was the site of expedited work on a project to develop centrifuges ordered by Supreme Leader Ayatollah Ali Khamenei in June 2018 after the U.S. withdrew from a multilateral nuclear deal. The incident followed two explosions, including one near the Parchin military base, and another at a medical clinic which killed 19 people. [Caribbean shakeup]( | The Dominican Republic is the latest Latin American country to opt for political change after voters ousted the party that has dominated the tourist mecca for two decades. Luis Abinader, a cement company executive, will be sworn in as president of the Caribbean’s largest economy next month. As the region's economic outlook has worsened, incumbent parties have been voted out from Argentina to Uruguay and Suriname. - Argentina’s government improved [its debt offer]( to restructure $65 billion of foreign bonds in a bid to reach a deal with its creditors. [Taming Google]( | Two years on, the European Union’s record fine and order to give its citizens more choice in search engines have had little impact: Google still controls the market. As U.S. authorities ready a legal suit to break the company’s grip, [Aoife White]( and [Natalia Drozdiak]( examine what they might do differently to curb Google’s dominance. What to Watch This Week - France’s new government is set to be announced today, with President Emmanuel Macron also planning a summit Friday aimed at restarting dialogue between Serbia and Kosovo. - The U.S. Supreme Court is [poised to cap]( a term like no other, with potentially blockbuster decisions covering birth control, religious rights and Trump’s efforts to keep his financial records private. - Mexican President Andres Manuel Lopez Obrador [travels to Washington](, his first overseas trip since coming to power a year and a half ago, and plans to meet with Trump on Wednesday to celebrate the revised North American free trade agreement. - Croatia’s ruling party scored [a surprise victory]( in yesterday’s general election, putting it within striking distance of a majority in parliament. - U.K. Chancellor of the Exchequer Rishi Sunak will outline [the next steps]( of the government’s plans to kick-start the economy in a speech to parliament Wednesday. - Prime Minister Lee Hsien Loong is vowing to hand over Singapore in [“good working order”]( to the next generation of leaders and urged voters to give his party a fresh mandate in Friday’s elections. Thanks to all who responded to our pop quiz Friday and congratulations to Luis Bonnet, who was the first to name Belarus as the country whose long-serving leader is facing opposition via social media posts of an almost century-old portrait, the owner of which is running for president from prison. [And finally]( ... Beyond the more obvious obstacles to developing Africa’s biggest investment — a $23 billion project to export Mozambique’s natural gas — is a more pressing threat: attacks by militants aligned with Islamic State. A private company is in charge of guarding the area, a predominantly Muslim region 1,900 kilometers from the capital, Maputo, plagued by marginalization of its young men. South Africa, the U.S. and Portugal have indicated willingness to help fight the insurgency. A woman holds her younger child while standing in a burned-out area after an attack on the northern Mozambican village of Aldeia da Paz on Aug. 24, 2019. Photographer: Marco Longari/AFP via 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. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022