Ex-PM Abe’s assassination leaves Japan shocked: Weekend Reads

Former Prime Minister Shinzo Abe — Japan’s longest-serving premier and a figure of towering influence — was assassinated during a campaign e [View in browser]( [Bloomberg]( Follow Us [Get the newsletter]( Former Prime Minister Shinzo Abe — Japan’s longest-serving premier and a figure of towering influence — was [assassinated]( during a campaign event, shocking a nation where both political violence and guns are rare. It was finally one scandal too many for British Prime Minister Boris Johnson who announced his intention to [step down]( following mass resignations of members of his government and set off a search among the ruling Conservatives for his replacement. The foreign ministers of the Group of 20 nations met in Bali, with Russia, China and the US all in attendance. Washington hoped to forge agreements with like-minded countries over [Ukraine]( on the sidelines. Delve into these and more of Bloomberg’s top political stories from the past seven days in this edition of Weekend Reads. — Muneeza Naqvi A news report on Abe’s assassination on a screen in the Shibuya district of Tokyo. Photographer: Kentaro Takahashi/Bloomberg Click [here]( for this week’s most compelling political images and share this newsletter with others. They can sign up [here](. Shooting of Japan’s Ex-Leader Shocks Nation Where Guns Are Rare The last time a current or former Japanese prime minister was shot and killed was 90 years ago. It’s a measure of just how rare and [shocking]( gun violence is in the country, where ownership of firearms is strictly controlled, report [Reed Stevenson]( and [Kanoko Matsuyama](. A suspect is apprehended after Abe was shot. Photographer: Takashi Yamazaki/Yomiuri Shimbun Boris Johnson’s Plan to Drag Out His UK Departure Is Under Pressure Boris Johnson may still be in Downing Street after announcing his intention to resign, but his plans for a long-drawn retreat are under [threat](. [Emily Ashton](, [Joe Mayes](, and [Kitty Donaldson]( write about how the ruling Conservative Party is urgently drawing up plans for an accelerated contest to choose his successor by end-summer. - Read the [account]( of how the Johnson administration unraveled based on conversations with senior members of his inner circle, cabinet ministers, political advisers, civil servants and Tory MPs who were present at the key moments and spoke to Bloomberg News on condition of anonymity. Race to Succeed Boris Johnson Kicks Off as Sunak Makes Move The [race](to succeed Boris Johnson as UK prime minister began in earnest as former Chancellor of the Exchequer Rishi Sunak announced his candidacy, vowing to “restore trust” in politics, [Emily Ashton]( and [Joe Mayes]( report. Russia’s Brain Drain Is Officially Underway Georgia’s government [estimates]( that 80,000 Russians and Belarusians have moved to the small Caucasus nation of 4 million as a result of Moscow’s invasion of Ukraine. Of those, 20,000-25,000 work in IT and software, a group eagerly sought after from countries ranging from Israel to the US, [Marc Champion]( and [Helena Bedwell]( report. Natural Gas Soars 700%, Becoming Driving Force in New Cold War Natural gas is posting price jumps that are [extreme]( even by the standards of today’s turbulent markets — some 700% in Europe since the start of last year — pushing the continent to the brink of recession. [Gerson Freitas Jr](, [Stephen Stapczynski]( and [Anna Shiryaevskaya]( write about how the scramble to fill that gap is turning into a worldwide stampede. - Russia appears on track for a much [shallower]( recession than many forecasters initially expected this year, boosted by rising oil production that has blunted the impact of US and European sanctions over President Vladimir Putin’s war in Ukraine.     Best of Bloomberg Opinion - [Ukraine Shouldn’t Overplay Its Hand With Allies: Pankaj Mishra]( - [Abe’s Assassination Will Scar Japan Forever: Gearoid Reidy]( - [When the Weather Is Hot Enough To Kill: Fickling & Pollard]( - [Successor Beware! Boris Johnson Has a Real Legacy: Martin Ivens]( - [State Abortion Bans Threaten to Limit Drug Access: Lisa Jarvis]( Biden Turns to Direct Attacks on Trump as Midterm Elections Near President Joe Biden accused former President Donald Trump of “dismissing and ignoring the forgotten people he promised to help” in an [unusually]( blunt attack, indicating that the White House may be trying to turn the midterm elections into a referendum on his predecessor, [Jordan Fabian]( and [Justin Sink]( report. Biden speaks at an event in Cleveland, Ohio, on Wednesday. Photographer: Saul Loeb/AFP Jan. 6 Hearing Revelations Include Angry Trump, Risk to Pence A House committee investigating the assault on the US Capitol promised revelations in the televised hearings that began last month. It has so far [delivered](. From Trump demanding to join the mob attacking the Capitol to even his daughter doubting his claims of election fraud, as [Billy House]( writes, the revelations have become must-see television. Xi’s Suppression of Hong Kong Hardens Taiwan Opposition to China A year before Britain handed Hong Kong back to China, then-President Jiang Zemin hailed the “one country, two systems” plan for the city as a model for China to one day unify with Taiwan. For Taipei, though, the proposal has never been an [option](, [Samson Ellis]( and [Adrian Kennedy]( explain. People wave Chinese flags on the 25th anniversary of Hong Kong’s return to Chinese rule in Hong Kong, on July 1, 2022. Photographer: Billy H.C. Kwok/Bloomberg Chile Delivers Final Constitution Draft as Skepticism Runs High Chile’s Constitutional Convention presented its final version of the charter to President Gabriel Boric, marking a [shift]( away from the current document implemented under the 1973-1990 military dictatorship. As [Eduardo Thomson]( writes, with a referendum set for Sept. 4, voters are questioning the changes on everything from social rights to political rules. Burning Trains Reveal Wrath of Millions Without Jobs in India A military recruitment plan in India is turning the [spotlight]( on an unemployment crisis plaguing the $3.2 trillion economy. The new policy looks to enlist young men as soldiers on four-year contracts without pensions. [Vrishti Beniwal]( and [Bibhudatta Pradhan]( report on the furious backlash from many who pin their hopes on the army for a secure future. A train set ablaze during a protest against India’s new army recruitment plan at Danapur Railway Station on June 17.​​​​​ Photographer: Hindustan Times/Hindustan Times Explainers you can use - [Who Shot Shinzo Abe and Why? Everything We Know So Far]( - [How UK’s Tories Will Elect Leader to Replace Johnson]( - [Europe’s Gas Emergency Tops Formidable Risk-List For Commodities]( - [Hong Kong Travel Challenges Mount as Flight Bans Climb to 100]( - [What We Know About the Omicron Clan of Virus Variants]( And finally … As Crown Prince Mohammed bin Salman races to diversify Saudi Arabia’s oil-dependent economy, the $620 billion Public Investment Fund — which he chairs — is taking [center stage](. [Vivian Nereim]( explains how it’s supplanting a pedigreed business class to become one of the most powerful institutions in a fast-changing economy. The crown prince presents ‘The Line’, a smart linear city within the Neom development, in 2021. Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. 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