A surprise contender

[Bloomberg]( Follow Us [Get the newsletter]( In some ways, Olaf Scholz, the front-runner to replace Angela Merkel as Germany’s chancellor, [owes]( his political resurrection to the pandemic. Less than two years ago, the finance minister was contemplating getting out of politics all together. His Social Democrats had rejected him as party leader. He was seen as too moderate and too close to Merkel. But as [Birgit Jennen]( and [Chris Reiter]( chronicle, he turned things around. Deep down he had never given up on one day being chancellor and, with 17 days to [election]( day, he’s on the brink of succeeding. How did someone who was polling a distant third just months ago pull off such a comeback? The answer was to present himself as the real heir to Merkel, who navigated crisis after crisis with a cool head. What he needed was a crisis to manage. So when Covid-19 plunged the world into recession as scientists scrambled to find a life-saving vaccine, Scholz was armed and ready to deploy what he called a “bazooka.” He unleashed almost $500 billion in financial support, a staggering amount by any measure but all the more stunning given the German reputation for frugality and balanced budgets. At this point Scholz is also quite shameless about stealing from the Merkel [playbook](. He even adopted her signature move, pressing his thumbs and fingers together in a diamond shape, for the front page of a German newspaper. The quiet technocrat, often dismissed as wooden, had just been biding his time. — [Flavia Krause-Jackson]( Scholz at a campaign event in Goettingen on Sept. 4. Photographer: Jens Schlueter/AFP/Getty Images Click [here]( to follow Bloomberg Politics on Twitter and tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines Virtual reality | Xi Jinping hasn’t left China for one year, seven months and 22 days, the longest stint at home of any G-20 leader. While he’s taken part in more than a dozen online meetings this year, and held nearly 60 calls with other heads-of-state, [worries]( are growing that his desire to stay in China, a byproduct of a strategy to completely eliminate Covid-19, may hinder progress on climate change and disputes with America. - Chinese officials [summoned]( gaming firms to discuss more oversight of the industry and the need to de-emphasize profits, as Xi pushes to curb addiction among minors. - [Click here]( for a timeline on the stock-market turbulence as Beijing tightens its grip on a variety of sectors. Sanctions trouble | U.S. sanctions against senior members of the Taliban cabinet [violate]( last year’s peace deal and should be rescinded immediately, the militant group said today. Two-thirds of the new executive are on international penalty lists, including acting Interior Minister Sirajuddin Haqqani, who’s on the FBI’s most-wanted list for terrorism. - The Taliban have [allowed]( 200 Americans and other civilians to leave Afghanistan on chartered flights, Al Jazeera reports. - The U.S., China and Russia will be [tested]( today on whether they can collaborate to keep Afghanistan from sinking deeper into crisis as they negotiate the renewal of a long-running UN mission set to end next week. To mandate, or not to mandate? That is the question facing corporations as they weigh the pros and cons of requiring a Covid-19 vaccine for workers. The answers, so far, are all over the place. A Bloomberg compilation of policies of more than 100 big firms found about half have implemented a vaccine [mandate]( for at least some U.S. staff, but the requirements vary widely. Drilling targeted | Democrats in the U.S. Congress are pushing [sweeping]( legislation to combat climate change that would, if the Senate approves, block drilling in most U.S. offshore waters. The House Natural Resources Committee is set today to approve the bill, which would also slap new fees on oil and mining companies and ban drilling in the Arctic National Wildlife Refuge. Republicans say it will hamstring the economy. - More lawsuits seeking to curb carbon dioxide emissions are likely in Europe, [spurred]( by a recent report that makes the role of human activity “unequivocal” in global climate change. Best of Bloomberg Opinion - [Did Bitcoin’s El Salvador Debut Dud Doom Crypto?: Aaron Brown]( - [The European Disease that Keeps Coming Back: Andreas Kluth]( - [The Taliban Caretakers Will Keep the Neighbors Up: Bobby Ghosh]( Low-key show | North Korea said it staged its first military-style parade since Joe Biden became U.S. president, with Kim Jong Un presiding over what state-run media called a show of “paramilitary and public security forces.” NK News said there were no [missiles]( or heavy weapons displayed and photos posted on Twitter hours later showed marching soldiers, people in biohazard suits, and riders on horseback. Burying carbon | In Iceland’s barren landscape, a new container-like structure has risen alongside the Hellisheidi geothermal power plant: Its job is to suck carbon dioxide out of the air and pump it deep underground, turning it into stone forever. Investment is pouring into carbon capture as companies and governments seek to tame global warming that’s already causing [devastating]( weather events. - [Read how]( politicians and academics are shifting their attention to a new trade pitch for South Africa: debt relief in exchange for progress toward global climate goals. Bloomberg TV and Radio air Balance of Power with [David Westin]( weekdays from 12 to 1pm ET, with a second hour on Bloomberg Radio from 1 to 2pm ET. You can watch and listen on Bloomberg channels and online [here]( or check out prior episodes and guest clips [here](. What to Watch - Morocco’s long-dominant Islamist party suffered a crushing [defeat]( in parliamentary elections as voters backed groups close to King Mohammed VI. - CIA Director William Burns met with Pakistani army chief General Qamar Javed Bajwa and Faiz Hamid, head of the military’s spy agency, to discuss the situation in Afghanistan. - Xi is due to join the leaders of India, Russia, South Africa and Brazil in a virtual summit of the BRICS nations today when they are expected to discuss Afghanistan and the pandemic. - Russian President Vladimir Putin and Belarus counterpart Alexander Lukashenko hold talks in Moscow today, days after a top Belarusian opposition [leader]( was jailed. And finally ... The U.S. Supreme Court didn’t mention the impact on women in Texas when it cleared the way for the state last week to ban almost all abortions after six weeks — before many women know they are pregnant. Yet in November, it expressed concern for the suffering New York City worshipers would feel because of limits on attendance in churches and synagogues due to the pandemic. As [Greg Stohr]( writes, the two orders [underscore]( just how far out of favor abortion rights have fallen at a court now under conservative control. Demonstrators outside the Texas State Capitol on Sept. 1. Photographer: Sergio Flores/The Washington Post/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