Playing to the center

[Bloomberg]( Follow Us //link.mail.bloombergbusiness.com/click/20855086.82496/aHR0cHM6Ly90d2l0dGVyLmNvbS9icG9saXRpY3M/582c8673566a94262a8b49bdBf8b39bdf [Get the newsletter]( Joe Biden is betting on the middle. Back at the start of 2020, questions abounded about whether the Democratic presidential challenger was too centrist, his proposals not bold enough, to win the support of his party in a historically crowded field of candidates vying to take on Donald Trump in November. A strong showing in the Super Tuesday contests in early March, followed by the onset of the coronavirus and its subsequent lockdowns, solidified Biden’s status as the Democrats’ candidate and quieted, if not resolved, those questions. Now, four months later and four months out from Election Day, Biden is [poised to call]( for a moderate approach toward reviving the U.S. economy that includes spurring manufacturing and encouraging innovation, during a speech today near his childhood hometown of Scranton, Pennsylvania. As [Jennifer Epstein]( writes, the remarks will frame Biden’s economic message at a time when the U.S is facing a historic downturn and joblessness has skyrocketed. The key take away? Biden’s shelving for now the [more ambitious proposals]( pushed by progressive Democrats. [He’s gambling]( that by doing so, he’ll attract Republicans weary of the Trump administration along with independents while retaining progressive support. But the risk is that more left-leaning Democrats — those who supported Bernie Sanders and Elizabeth Warren — will be un-enthused. And stay home on Nov. 3. — [Kathleen HunterÂ]( Biden holds a roundtable meeting on reopening the economy with community leaders at the Enterprise Center in Philadelphia on June 11. Photographer: Jim Watson/AFP via Getty Images Tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines [Expecting the unexpected]( | There’s growing dread among many of the U.S.’s oldest allies that Trump will become even more unpredictable as he faces sagging polls in his increasingly no-holds-barred fight to win re-election. As [Ian Wishart](, [Kait Bolongaro]( and [Arne Delfs]( explain, any sudden decision, such as another escalation in the confrontation with China or more trashing of NATO, could reverberate beyond whoever winds up winning. [Australia’s swipe]( | Prime Minister Scott Morrison said Australia would suspend its extradition agreement with Hong Kong and give skilled migrants from the Asian financial hub five-year visas with a pathway to permanent residency. Morrison’s move — a response to China’s enacting sweeping national security legislation over Hong Kong — drew swift condemnation from Beijing and is likely to worsen already fraught tensions between the two trading partners. [Odd couple]( | Mexican President Andres Manuel Lopez Obrador’s first visit to the White House sealed an unlikely partnership with Trump. In a speech, the leftist Lopez Obrador effectively endorsed the treatment of his country by the billionaire U.S. president, who’s unpopular south of the border for accusing Mexico during the 2016 campaign of sending criminals and rapists to the U.S. and vowing to build a wall between the countries. [Democracy downgrade]( | Israeli Prime Minister Benjamin Netanyahu is fueling new concerns about his respect for democratic processes as he tries to fight a second coronavirus outbreak, [Gwen Ackerman]( reports. Citing an “emergency situation,” his government pushed through legislation empowering the domestic security agency to resume coronavirus contact tracking, and parliament approved a law allowing the cabinet to take any decision deemed necessary to curb the disease. Nigerian doctor Bilqis Muhammad Source: Bilqis Muhammad Muhammad is one of the thousands of Nigerian physicians who’ve [gone on strike]( to highlight the dangerous conditions they face in the Covid-19 outbreak. [Winning strategy]( | If anyone is wondering which party will win Singapore’s election tomorrow, there's no need. As [Philip Heijmans]( reports, Prime Minister Lee Hsien Loong’s party has led Singapore since independence in 1965 — the question this time is whether it will lose support compared with a 2015 vote, or even fail to win a two-thirds majority in parliament for the first time. One political leader warned of a “wipe out” that could see the sitting government win every seat. What to Watch - The U.S. Supreme Court will end its term this morning [with historic rulings]( that likely will determine whether the public sees Trump’s long-hidden financial records before the November election. - The race is on to lead the World Trade Organization out of the worst crisis of its 25-year existence, with eight candidates to replace Roberto Azevedo, who’s stepping down Aug. 31. [Here’s a look]( at who’s in the running. - Serbian President Aleksandar Vucic appeared to [backtrack on a plan]( to impose a virus lockdown in Belgrade this weekend after the announcement of a 59-hour curfew triggered violent street protests. - The death of Ivory Coast President Alassane Ouattara’s [hand-picked successor](, Prime Minister Amadou Gon Coulibaly, means the ruling party of the world’s biggest cocoa producer must pick a new nominee before a vote scheduled for October. [And finally]( ... Thailand is enabling retailers and consumers to trace coconuts back to their source to show whether monkeys have been used for harvesting after People for the Ethical Treatment of Animals alleged that monkeys are being abused and “treated like coconut-picking machines.” The PETA report made waves across the world, with several British supermarkets reportedly saying they’ll stop selling some products from the top producer of coconut milk. A trainer works with a monkey showing it how to collect coconuts at the Samui Monkey Center on Samui island in Thailand. Photographer: Pornchai Kittiwongsakul/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