China’s Covid protests, Ramaphosa’s fate: Weekend Reads

China has signaled a move away from harsh restrictions to contain Covid 19 cases after anti-lockdown protests erupted across the nation.A sc [View in browser]( [Bloomberg]( China has signaled a move away from harsh [restrictions]( to contain Covid 19 cases after anti-lockdown protests erupted across the nation. A scandal [engulfing]( Cyril Ramaphosa is threatening to take down more than just the South African president. Hanging in the balance are the fate of his party and his government’s reform agenda. US President Joe Biden said he [would talk]( with President Vladimir Putin about the war in Ukraine if the Russian leader is serious about ending his invasion. Kremlin spokesman Dmitry Peskov said Putin is open to negotiations but that [military operations]( won’t cease. Delve into these and more of our top political stories in this edition of Weekend Reads. — [Karl Maier]( Demonstrators during a protest in Beijing on Wednesday. Source: Bloomberg Click [here]( for this week’s most compelling political images. And if you’re enjoying this newsletter, sign up [here]( for Balance of Power. Beijing Eases Covid Curbs, Letting Some Patients Isolate at Home The Chinese capital will allow some virus-infected people to isolate at home, starting with residents of Beijing’s most-populous district. It’s a [landmark shift]( that reflects the pressure officials are under from a record outbreak and public opposition to Covid Zero. - The southern tech hub Shenzhen ended [mandatory]( Covid testing to enter public venues, adding to a growing list of local governments relaxing strict social curbs. China Protesters Exploit Gaps in Great Firewall to Pressure Protesters in China used word of mouth and social media to [exploit]( cracks in the country’s version of the internet that’s largely sealed off from the rest of the world. Overwhelming censors, demonstrators shared photos, slogans and news about protests. - The death of former leader Jiang Zemin poses yet another [challenge](for President Xi Jinping, providing a potential rallying point for people disillusioned by Covid Zero measures and a flagging economy. Ramaphosa Allies Rally Behind Him as Party Meets on His Fate Allies of Ramaphosa [closed ranks]( behind him a day after he considered resigning over an independent panel’s findings that there may be grounds for his impeachment. [Paul Vecchiatto]( and [S’thembile Cele]( report on why they want to keep Ramaphosa from stepping down over his handling of a robbery at his game farm in which the president said $580,000 hidden in a sofa was stolen. - Ramaphosa is “seriously considering” asking a court to [review]( the panel’s conclusions, his spokesman said. - Ruling party treasurer Paul Mashatile, a [possible successor](, says he has a plan to fix South Africa’s struggling economy. Godongwana told Bloomberg Television that Ramaphosa has more public support than the ruling African National Congress and economic policy [won’t change]( should he decide to resign. The G-7 Oil Price Cap Looks Set to Keep Russian Oil Flowing The Group of Seven is set to impose a price cap on Russian oil — at $60 a barrel — that’s well above where it now trades. [Ewa Krukowska]( and [Alberto Nardelli]( explain that the [premise]( of the measure is clear: The US and its allies want Russia’s crude to keep flowing. ‘Weak’ Rishi Sunak Is at the Heart of Labour’s Election Assault Two years before the next UK general election, [Alex Wickham]( reports that the opposition Labour Party has fashioned a clear line of attack on Conservative Prime Minister Rishi Sunak: He is too weak and too rich to be [in touch]( with ordinary Britons. Brexit barged its way back onto the UK political agenda this month, with a report that Sunak’s government might seek closer ties with the European Union. Polling reveals mounting [regret]( among the British people who voted to leave the EU in 2016.  Musk Hails Release of Twitter Emails on Hunter Biden Story Elon Musk heralded the release of Twitter executive emails that explore some of the internal debate at the social network over a decision in 2020 to [restrict access]( to a New York Post article about a laptop purportedly owned by Hunter Biden. But as [Kurt Wagner]( reports, the materials shared on Friday broke relatively little new ground on a two-year-old episode. Kim Jong Un’s ‘Precious Child’ Shows World Regime Here to Stay The “most beloved” daughter of the North Korean leader was recently featured alongside her father in a [photo op]( to celebrate the successful launch of the country’s most powerful ballistic missile. [Jon Herskovitz]( and [Sangmi Cha]( outline how the events sent clear signals that the Kim regime is here to stay and won’t bargain away its nuclear arsenal any time soon. - The Biden administration is considering “all available tools” [to punish]( North Korea over an unprecedented series of missile tests, an official said. Kim with his daughter following the launch of an ICBM. Photographer: AP Photo/KCNA via KNS Best of Bloomberg OpinionThis Week - [The Communist Party Taught China’s Youth to Protest: Nancy Qian]( - Biden, Macron Want the Same Things, But Different: Liam Denning]( - [Rishi Sunak Is Full of the Wrong Kind of Wind: Javier Blas]( - [Russia’s Bombing Campaign Is Ill-Conceived: Leonid Bershidsky]( - [The Soccer World Must Protect Iran’s Team: Bobby Ghosh]( A Ruling Family Sent a Stable Nation Into Economic Free Fall Three years ago the World Bank classified Sri Lanka as upper middle-income, in the same category as Brazil and Turkey. Today a third of its 22 million people require urgent humanitarian assistance. For all but about five years since 2005, [Matt Campbell]( writes, the country has been ruled by the Rajapaksas, a clan that ushered in what critics say was an era of [operatic corruption](. The world is emerging from the cheap-money era with a mountain of debt that’s now getting [painfully expensive](. The total owed by households, businesses and governments stands at $290 trillion, up by more than a third from a decade ago, according to the Institute of International Finance. Explainers of the Week - [The ‘Energy Transition’ Is Here. It Won’t Be Smooth]( - [Why East Africa Is Facing Its Worst Famine in Decades]( - [Taliban’s Diplomatic Isolation Leaves Afghan Economy Squeezed]( - [Why the Almighty Dollar Is Creating Global HeadachesÂ]( - [Green Factories Are Changing Minds in Conservative US State]( For Tribal Nations, a Historic $20 Billion in Pandemic Aid The town of Suquamish, which makes up about half of Port Madison Indian Reservation, looks like another pleasant Seattle suburb. [Amy Yee]( explains how the Suquamish Tribe is using the federal Covid-19 relief for Native American communities to expand affordable housing and is now enjoying growth [hardly imaginable]( a generation ago. Taliban’s Diplomatic Isolation Leaves Afghan Economy Squeezed The Taliban’s failure to break its international isolation since seizing power overnight last year has plunged Afghanistan into a [humanitarian crisis](. And as [Eltaf Najafizada]( reports, there’s little prospect of aid for a crumbling economy. Methane was spotted near the Norte III landfill in Buenos Aires in September. GHGSat Despite installing a capture system that operators of the Norte III landfill outside Buenos Aires said would limit methane seeping from the dump, new satellite observations suggest releases of the [potent greenhouse]( gas from the site haven’t diminished. Victims of a Forgotten War, Syrians Build a New Aleppo Next Door Hundreds of thousands of refugees have made the Turkish city of Gaziantep their home after Syrian President Bashar al-Assad laid siege to Aleppo during one of the deadliest episodes of the civil war. Rather than pining for a bygone era, the displaced citizens have slowly been [changing the face]( of their home across the border to adapt it to their needs. And finally …  The Czech Republic has been rocked by protests over Ukraine, but it’s found [a way]( to counter pro-Moscow propaganda: throw money at people’s economic worries. [Peter Laca]( and [Krystof Chamonikolas]( report on how an injection amounting to $8.5 billion effectively defused some of the EU’s largest anti-government demonstrations. Protesters against the Czech government in Prague on Sept. 28. Photographer: Michal Cizek/AFP/Getty Images Follow Us 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. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](