Rescue at risk

[Bloomberg]( Follow Us [Get the newsletter]( Call it a possible last chance. After underperforming — by varying degrees — in handling the coronavirus pandemic, global leaders will have to get the vaccine [rollout]( right or risk a severe public backlash. So far, the signs are mixed. President-elect Joe Biden is promising a major revamp of the shambolic [program]( he inherits tomorrow from Donald Trump, with only about 15 million inoculations having been [administered]( so far. There simply aren’t enough shots to meet demand. Instead of a laser focus on the virus that will soon have claimed about as many American lives as the number of U.S. soldiers killed in World War II, Washington is gripped by toxic politics and security fears, with national guard troops deployed to prevent attacks by Trump supporters. In Italy, ground zero of Europe’s outbreak, Prime Minister Giuseppe Conte has been sidetracked into [fighting]( to save his administration after a junior partner quit his coalition at a time of rising infections and a severe recession. Elsewhere, heads of government from Brazil and [South Africa]( to the U.K. and France are facing increasing criticism for their handling of the virus and planning for a way out of the crisis. Adding to the controversies, the World Health Organization has slammed drug companies for allegedly [prioritizing]( rich countries, undermining the Covax initiative for poorer nations. With new [strains]( multiplying, the next few months pose a straightforward challenge for those in power: Keep alive as many people as possible until the inoculations accelerate to the point where they can slow the [spread]( of Covid-19. For some, their political survival could depend on it. — [Karl Maier]( New York’s Jacob K. Javits Convention Center after being converted into a vaccination site, on Jan. 13. Photographer: Jeenah Moon/Bloomberg Tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines [Legacy snapshot]( | Trump departs Washington tomorrow with Americans more politically divided and more likely to be out of work than when he arrived, while awaiting trial for his second impeachment. As [Jordan Fabian]( reports, it’s an ignominious [end]( to one of the most turbulent presidencies in American history. - Biden is set to [arrive]( in Washington today, the eve of his inauguration, with the usual backdrop of celebrations and political comity replaced by a military lockdown. - [Click here]( for more on what the scaled-down, high security inauguration will look like. [Free and clear]( | White House officials don’t expect Trump to pardon himself, family members or close aides, but clemency is in the works for a famous rapper and others. Trump, who had discussed with aides the possibility of a self-pardon, in anticipation he might later be charged with federal crimes, is expected to announce a list today. [Ten against China]( | Boris Johnson is flustering British allies with his plans to expand the Group of Seven into 10 democracies aligned against China. The prime minister has invited South Korea, India and Australia to participate in meetings of the G-7 hosted by the U.K. this year as part of his program of championing democratic values and projecting Britain as a force for global good after leaving the European Union. Instead, as [Alberto Nardelli]( and [Isabel Reynolds]( report, Johnson is fanning concerns he’s trying to reshape the G-7 by the back door. [King euro]( | It’s seen by some as the epitome of the doomed European project and by others as the crowning achievement of integration. Now, having seen off existential crises during its two-decade history, the euro is the subject of new plans to strengthen its international role. As [Viktoria Dendrinou]( reports, EU proposals to be announced today aim to offset the dominance of the U.S. dollar, allowing the bloc to pursue its foreign policy priorities with less recourse from an unpredictable ally in Washington. [Afghan demand]( | The Taliban urged Biden to honor a U.S. agreement to withdraw all American forces from Afghanistan by May to secure intra-Afghan peace talks and end the two-decade-long war. The call from the insurgent group comes just after the U.S. reduced its troop levels to 2,500 under orders from Trump, despite opposition from both Republican and Democratic lawmakers who’ve warned of the potential impact on operations against other militant groups elsewhere. [Iran rapprochement]( | Qatar urged Gulf Arab nations to enter a dialog with Iran, saying the time was right for Doha to broker negotiations now the neighbors have begun to patch up their differences, [Simone Foxman]( reports. The appeal may find support from the incoming Biden administration, which has promised to revive the 2015 nuclear deal between Iran and world powers and roll back the “maximum pressure” campaign that won the support of Saudi Arabia and the United Arab Emirates. Paid Post This top card offers an easy $200 bonus (after you spend $1,000 in the first 90 days) AND 3% cash back choice on online shopping, dining, travel, gas, home improvement, or drug stores. Plus, you can enjoy 0% interest for 12 months AND no annual fee. [Learn more today!]( Wise Bread What to Watch - U.S. Treasury Secretary nominee Janet Yellen will say at her Senate confirmation hearing today that low borrowing costs mean it’s time to “[act big](” by supporting Biden’s $1.9 trillion Covid-19 stimulus package. Click [here]( for a preview of what secretary of state nominee Antony Blinken will say in his confirmation hearing today and [here]( for a look what Biden’s pick to serve as director of national intelligence, Avril Haines, will tell senators at hers. - Biden’s incoming administration [rejected]( a move by Trump to rescind virus-related travel bans for non-American citizens arriving from the EU, the U.K. and Brazil, which means the curbs will stay in effect. - Conte’s ambition to continue as Italy’s prime minister faces a crucial [test]( today with a confidence vote in the Senate, after he won a similar vote in the lower house of parliament yesterday. - China “has already decided” to [sanction]( some U.S. officials over involvement in Taiwan issues and said it will impose penalties on “U.S. officials, congress people and NGO personnel as well as direct family members” for their involvement over recent U.S. moves in Hong Kong. [And finally]( ... While the Covid-19 shots given in the U.S. since mid-December have gone mainly to health workers, the elderly and those at high risk, children will have to be immunized to fully defeat the pandemic and revive the economy. To that end, trials to make sure vaccines are safe for the young are beginning in earnest. As [Suzi Ring]( and [Riley Griffin]( report, people like high-school freshman William Brown are signing up for trials for adolescents in the hope of getting back to their lives sooner rather than later. Brown, 15, and his mother, Lisa, in their home in Raleigh, North Carolina. Photographer: RACHEL JESSEN  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