Public anger

Right-wing politicians are tapping into public anger against elected governments. [View in browser]( [Bloomberg]( Follow Us [Get the newsletter]( Is liberal democracy at a tipping point? It’s not just the rowdy demonstrations against vaccine mandates and Covid-19 restrictions by truckers that forced Canada’s capital city to declare a state of emergency. Nor the smaller protests today in Australia and earlier in Europe and the U.S. The angry mood in parts of the world with elected governments is palpable, and conservative politicians are proving adept at tapping into it. Key reading: - [Ottawa Declares Emergency After Protests Spin ‘Out of Control’]( - [Canada-Style Covid Bedlam Goes Global With Protest in Australia]( - [RNC Calls Jan. 6 ‘Legitimate Discourse,’ Censures Anti-Trump Duo]( - [Up-for-Grabs House Seats Vanish, Signaling Deeper Congress Rifts]( It had a lot to do with the rise of Donald Trump in the U.S., Jair Bolsonaro in Brazil and Boris Johnson in the U.K. — whose hold on office ironically is now under threat by souring public feelings over the so-called “partygate” scandal. The legitimacy of Joe Biden’s presidency is still being called into question more than a year after his election because of false claims of fraud that are still believed by swaths of Trump supporters — including QAnon-style conspiracy theorists. This isn’t taking place just on the margins of political discourse. The Canadian protest has been championed by the likes of Trump, Fox News and Tesla billionaire Elon Musk. The Republican National Committee last week declared Congress’s investigation into the deadly Jan. 6 assault on the U.S. Capitol to be a “persecution of ordinary citizens engaged in legitimate political discourse.” Partly in response to public fatigue with the pandemic, European governments are moving to roll back coronavirus restrictions, which may steal some of the thunder from far-right politicians in places like France. And conservatives, against their natural inclinitation, may have to spend money needed to address the rising cost of living in many countries. Democracy in crisis? While frustrations are growing, the answer is probably not. As Winston Churchill observed, democracy is the worst form of government except all the others. Possibly better to say that we are in one of those moments captured in the 1976 film “Network,” when anchorman Howard Beale yelled, “I’m as mad as hell, and I’m not going to take this anymore!” — [Karl MaierÂ]( Protesters near Parliament Hill in Ottawa on Feb. 5. Photographer: David Kawai/Bloomberg Click [here]( to follow Bloomberg Politics on Facebook and share this newsletter with others too. They can sign up [here](. Global Headlines Urgent diplomacy | Europe is stepping up its role in the search for a diplomatic resolution to tensions with Russia. During a visit to Washington today, Chancellor Olaf Scholz will [reassure]( Biden of Germany’s commitment to confronting the Kremlin over its troop buildup on Ukraine’s border (Russia denies any plans to invade). French President Emmanuel Macron will at the same time hold talks with President Vladimir Putin in Moscow. - While seeking to help [defuse]( tensions with Russia, Macron risks demonstrating France’s limited influence, [Ania Nussbaum]( writes. - European Union officials are set to [announce]( plans to address any risks to Europe’s gas supplies during talks with the Biden administration today. Conflicting claims | Chinese tennis star Peng Shuai told French sports daily L’Equipe yesterday that she didn't face any [curbs]( on her movements after posting on social media about an affair with a former top Communist Party official, in comments made after her meeting with IOC president Thomas Bach. - Chinese companies are rewarding the national women’s football team with cash payouts totaling some $3.6 million for an exciting AFC Asian Women’s Cup championship victory that for a short time at least is [overshadowing]( the Winter Olympics. - To wall off nearly 22 million Beijing residents from the risks of Covid-19 that the Olympics athletes may bring with them, China has built a city within a city, [cut off]( from the outside, but where there is unrestricted internet access and meals served by robots. Hong Kong reported a [record]( of more than 600 coronavirus infections today, with cases doubling every three days. That is putting pressure on the government to ramp up restrictions even further as it holds fast to its goal of eliminating the virus. Making money | In early 2020, as the pandemic pushed it to the verge of bankruptcy and it was shunned by foreign investors, Beijing’s highest­-profile rival to Tesla, Nasdaq-listed Nio, turned to China’s newest class of venture capitalists: [Communist officials](. Hefei province has pioneered a shift in Chinese capitalism over recent years in which local governments are increasingly taking minority stakes in private companies. Explainers you can use - [Why It’s Hard for a French President to Get Reelected]( - [Is Covid Becoming Endemic? What Would That Mean?]( - [Why Poor Nations Now Face a Pandemic Debt Crunch]( Ringing changes | Johnson moved to [shore]( up his top team at the weekend with a brace of appointments to posts left vacant after the resignation of five aides in 24 hours. But, as [Stuart Biggs]( reports, it may be too late to stem a swelling revolt in his Conservative Party over breaches of lockdown rules that could lead to a vote on his party leadership as soon as this week. Best of Bloomberg Opinion - [In Nuclear Face-Off With Iran, Biden Just Blinked: Bobby Ghosh]( - [Covid-19 Scars Will Rattle The Silver Economy: Lionel Laurent]( - [What If the Technology We Created Turns Against Us?: Tyler Cowen]( Business advocate | Former president Jose Maria Figueres is on track to win the first round of Costa Rica’s general election after [pledging]( to attract foreign investment and create a more business-friendly country. He’ll face either Rodrigo Chaves, a World Bank economist who served briefly as finance minister, or Fabricio Alvarado, a journalist and evangelical singer, in an April run-off. 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](. News to Note - Tehran says limited U.S. sanctions [waivers]( are “good but not enough,” after Washington made the move that could help lay the groundwork for world powers to revive the 2015 nuclear accord with Iran. - Biden told Israeli Prime Minister Naftali Bennett he’s looking forward to [visiting]( Israel in 2022 during a call that included discussion about Iran tensions. - Senator Joe Manchin predicted that a bill to address U.S. vote procedures including Congress’s role in certifying an election would be [approved](. - Peru’s Prime Minister Hector Valer, the third premier in seven months, offered his [resignation]( after just four days in office following criticism of his appointment from both allies and opponents of the government. Thanks to the 25 readers who answered the Friday quiz and congratulations to Robin Oram, who was the first to name Guinea-Bissau as the African country where there was an attempted military coup last week. And finally ... As Kim Jong Un unleashed his biggest-ever barrage of missile tests last month, one place suffered the most — Alsom Island, 11 miles off North Korea’s northeastern coast. It’s been targeted in more than 25 strikes since 2019 and was the destination of eight rockets in January alone. So much firepower directed at a single spot has prompted jokes that Kim must have a grudge, with one weapons expert quipping on Twitter that it was North Korea’s “[most hated rock](.” A woman watches a news broadcast about a North Korean missile test on Jan. 30. Photographer: Jung Yeon-Je/AFP/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]( [Ads Powered By Liveintent]( | [Ad Choices]( Bloomberg L.P. 731 Lexington, New York, NY, 10022