Putin fetes Xi and Trump decries charge threat: Weekend Reads

Xi’s trip to Moscow underscores the global divide over Ukraine — and a lot more [View in browser]( [Bloomberg]( Chinese leader Xi Jinping used a three-day visit to call for peace in Ukraine and [underscore]( his alignment with Moscow. But he held back from offering to buy a lot more gas, signaling hesitation on appearing too close to Russian leader Vladimir Putin. After former US President Donald Trump warned that he would be criminally charged this week, the New York grand jury hearing evidence against him went into [recess]( until early next week. Manhattan District Attorney [Alvin Bragg](, meanwhile, rejected a demand by House Republicans that he testify about his investigation. Tensions are rising in the Middle East, where Palestinians are losing hope they can negotiate with Israel’s government and Israelis are protesting against a planned judicial [overhaul]( that guts courts’ ability to declare the prime minister unfit. Delve into these and other top stories in this edition of Weekend Reads. — [Michael Winfrey]( Xi and Putin in Moscow on March 21. Photographer: Grigory Sysoyev/AFP/Getty Images Coming Soon: Understand power in Washington through the lens of business, government and the economy. [Sign up now for the new Bloomberg Washington Edition newsletter](. [Click here]( for this week’s most compelling political images. And if you are enjoying this newsletter, sign up [here](. US Fears a War-Weary World May Embrace China’s Ukraine Peace Bid Xi’s discussions with Putin about stopping the fighting in Ukraine put the US in an [uncomfortable position](. As [Iain Marlow]( explains, Washington is skeptical because a ceasefire now would freeze Russia’s military gains, but rejecting it outright may let China argue that the US doesn’t want peace. Putin’s Mercenary Prigozhin Shifts Focus After Ukraine Setbacks Russia’s Yevgeny Prigozhin is preparing to scale back his Wagner mercenary army’s operations in Ukraine after his supplies and manpower were cut off, sources say. Seen as a threat to the defense establishment, he’s [struggling]( in his goal to present an alternative to Russia’s military. - A politically connected Russian who’s facing extradition to the US on charges of evading sanctions and money-laundering [escaped]( from house arrest in Milan after breaking his electronic bracelet. Russia Seeks 400,000 More Recruits as Latest Ukraine Push Stalls The Kremlin has [dialed back]( plans for a further offensive in Ukraine this spring after failing to gain much ground and will focus on blunting an expected counteroffensive by Kyiv. The Kremlin is seeking to recruit as many as 400,000 soldiers this year to replenish its ranks, sources say. Drone Strike Strains Biden’s ‘No Deal-No Crisis’ Iran Stance Before a deadly strike by an Iranian drone against a US base in Syria, Washington sent repeated back-channel communications to Tehran with one message: We don’t want a war, but we’ll respond swiftly if attacked. As [Courtney McBride]( writes, President Joe Biden [made good]( on that warning. Donald Trump Will Be No Ordinary NY Defendant If He’s Charged Trump expects he’ll soon be [charged]( in New York with making hush-money payments to a porn star. [Patricia Hurtado]( and [David Voreacos]( explain that, if that happens, how the former president is processed by law-enforcement may be unlike any defendant in history. - Trump’s habit of calling for protests against his detractors warrants the use of a rare [anonymous jury]( at the trial next month of civil sexual-assault claims brought by author E. Jean Carroll, a judge ruled. The head of viral social app TikTok, Shou Chew, addressed an unforgiving, distrustful US Congress on Thursday in testimony where he avoided offending either the US government or China. But his [evasiveness]( left lawmakers unsatisfied, with representatives hungrier than ever to punish TikTok for ties to its parent company ByteDance, based in Beijing. Best of Bloomberg Opinion This Week - [Bank Chaos Opens Capitalism’s New Era: Micklethwait & Wooldridge]( - [Xi Doesn’t Need Putin Summit to Pay Off Right Away: Minxin Pei]( - [Warrant on Putin Gives Russia an Escape Hatch: Leonid Bershidsky]( - [Boris Johnson Has Finally Lost His Political Touch: Martin Ivens]( - [The Climate Crisis Is Coming for Our Kids: Lara Williams]( US Fights for Influence in Africa Where China, Russia Loom Large Biden’s government is stepping up a campaign to build [influence]( in Africa, where the US is losing ground to rivals. [Akayla Gardner]( looks into the push to engage the continent as Russia’s war in Ukraine and the standoff with China create a race to win over non-aligned countries. Swiss Look On in Dismay as Once-Mighty Credit Suisse Craters With the collapse of bank Credit Suisse after scandals, infighting and misplaced investments, a nation that prides itself on stability is pondering the fallout for its [reputation](. It also raises questions about Switzerland’s financial regulator and whether it should have stepped in earlier. UK’s Sunak Survives Day of Drama as Boris Johnson Grilled by MPs UK Prime Minister Rishi Sunak emerged unscathed from a day of drama after convincingly winning a key Brexit vote in Parliament, while former premier Boris Johnson acknowledged [misleading]( Parliament in the so-called Partygate scandal when he said his team had followed Covid rules. The Murky Business Behind Britain’s Rampant Food Price Inflation British farms have been scouring the globe to fill the void of migrant labor since Brexit while still trying to supply supermarkets used to rock-bottom prices. But keeping the shelves stocked with fruit and vegetables is becoming a precarious — and [murky]( — business for farmers and workers. Macron Pension Gambit Sparks Revolt, Pushes France to the Brink Violent protests across France show a country enthralled by the [cultural demons]( that have brought political crises to successive French presidents. Emmanuel Macron’s insistence on ramming through an increase in the retirement age has reignited labor unrest, nearly brought down his government and is threatening to paralyze what’s left of his term in office. A demonstration in central Paris on Thursday. Photographer: Nathan Laine/Bloomberg Italy’s Same-Sex Parents on Front Line of Social Rights Battle Italian Prime Minister Giorgia Meloni has repeatedly spoken out against “LGBT ideology.” As Bloomberg’s [Chiara Albanese]( explains in her new book, That’s Politica!, the government is no longer registering both parents’ names for [same-sex couples]( on their children’s birth certificate. Best of Bloomberg Explainers This Week - [Behind the Banking Crisis, an Era of Easy Money’s End]( - [Why the French Are Angry About a Plan to Retire at 64]( - Why Strike-Averse Britain Is Gripped by Labor Unrest]( - What Trump’s Legal Perils Mean for His 2024 Candidacy]( - [Where Are We in Hunting for the Origin of Covid-19?]( The Pope Returns to Polish Politics From Beyond the Grave Pope John Paul II is credited with helping bring down communism in his native Poland. But as [Piotr Skolomowski]( and [Natalia Ojewska]( report, a documentary that [questions]( his awareness of child abuse last century has thrust him back into the center of politics before elections later this year. Even Palestinian Business Leaders Have Resistance On the Mind As the Muslim holy month of Ramadan starts, fears are high of further [clashes]( around Jerusalem. [Ethan Bronner]( and [Fadwa Hodali]( explain that there’s a sense among Palestinians that negotiation isn’t possible with Prime Minister Benjamin Netanyahu’s government in the decades-old dispute with Israel. - Israel’s parliament approved part of a planned judicial [overhaul](, reducing courts’ ability to declare the prime minister unfit, before tens of thousands of Israelis staged protests. Wreckage of a building hit by rockets during an Israeli army raid in Jenin on March 7. Photographer: JAAFAR ASHTIYEH/AFP Kim Jong Un Tests Undersea Drone, Warns of ‘Radioactive Tsunami’ North Korean leader Kim Jong Un oversaw tests of weapons designed to deliver nuclear strikes against the US and its allies. [Jeong-Ho Lee]( explains they included an underwater drone that Kim’s regime said could create a “[radioactive tsunami](.” And finally … Beijing warned vulnerable residents to stay indoors this week as the third [sandstorm]( this month combined with regular industrial pollution to create a thick haze over the city, the worst in two years. The Ecological and Environmental Monitoring Center set its highest pollution level and asked people to avoid outdoor activities because of sand and dust blowing in from the outskirts. The Forbidden City shrouded in smog during a sandstorm on Wednesday. Source: Bloomberg Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. 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