Macron’s mess

The French president is in a bind [View in browser]( [Bloomberg]( Emmanuel Macron appears to have gained the upper hand in quelling violence that rocked France following the fatal shooting of a 17-year-old of North African descent by a French policeman. But as an uneasy calm settles over urban centers that saw protesters clash with police, set fires and loot businesses in scenes reminiscent of the 2020 protests in the US over the murder of George Floyd, the French president is left with an even bigger unresolved problem. Key Reading: [Riots in France Ease After Massive Nationwide Police Deployment]( [French Riots Begin to Abate Even as Economic Costs Mount]( [Macron Asks Parents, Social Media Firms to Help End Clashes]( [These Are the French Cities Hit by Clashes Over Teen’s Killing]( While the officer is facing murder charges in pre-trial detention, the massive deployment of police, widespread arrests and swift court procedures are only adding to the perception among low-income neighborhoods and minority communities that they face racism, exclusion and a lack of opportunity. The president’s ministers also warned parents to take responsibility for kids roaming the streets and social media companies to pull posts glorifying battles with cops and burning cars, with the estimates of damage starting at €100 million. That risks exacerbating deep divisions within French society that were also apparent during nationwide strikes and demonstrations over Macron’s push to raise the retirement age and especially during the Yellow Vest movement before the pandemic. Far-right leader Marine Le Pen joined politicians and the government in condemning one attack by protesters in particular — the ramming of a burning car into the home of the mayor of L’Hay-les-Roses, a Paris suburb — in an effort to rally her own supporters. All of this means Macron is now in a bind. Any fixes he may plan to roll out in the coming days are limited by his government’s drive to reign in spending to restore public finances. With criticism of the police shooting and the protests coming from both sides of France’s political spectrum, he’ll be hard pressed to tackle the anger over inequality without losing the narrative to his adversaries.— [Tara Patel]( Protesters evade tear gas yesterday in Paris. Photographer: Ludovic Marin/Getty Images Check out the latest [Washington Edition newsletter](. You can [sign up]( to get it in your inbox every weekday. And if you are enjoying this newsletter, sign up [here](. Global Headlines Mending ties between the world’s two largest economies is again the focus as US Treasury Secretary Janet Yellen travels to Beijing on July 6-9. Her trip will take place just three weeks after Secretary of State Antony Blinken visited China, as Washington seeks to [improve lines of communication]( after a series of diplomatic disputes. Yellen’s new counterpart in Beijing is Vice Premier He Lifeng, a longtime confidant of President Xi Jinping. - Xi’s elevation of a long-serving technocrat to become the central bank’s top Communist Party official signals policy makers will avoid [any drastic shifts]( as they struggle to reignite economic growth. An awkward three-week political test is approaching for Rishi Sunak that’s likely to have a [lasting impact]( on his UK premiership. Parliament goes on summer recess July 20, the same day Sunak’s Conservatives face three special elections. Good results would give the prime minister a boost ahead of a fall political season that will be critical to shifting predictions of a loss in a general election expected in 2024. Changes to solar panel technology are accelerating demand for silver, widening a supply deficit for the metal with little additional mine production on the horizon. Silver, in paste form, provides a conductive layer on the front and the back of silicon solar cells. But the industry is now beginning to make more efficient versions of cells that [use a lot more]( of the metal, which is set to boost already increasing consumption. With monsoon season approaching, Pakistan has already seen heavy rains and strong winds resulting in dozens of fatalities, hundreds of injuries and damage to roads, houses and farmland at a time when the scars of [last year’s catastrophic flooding]( are far from healed. The South Asian nation is emblematic of many developing economies where climate change is driving more intense rainfall, flooding, and damage to the economy. Best of Bloomberg Opinion - [French Riots’ Deja Vu Raises Stakes for Macron: Lionel Laurent]( - [Why It’s Time for Hope on LGBTQ Rights in Asia: Ruth Pollard]( - [Russia’s Mutiny Should Terrify Iran and China: Niall Ferguson]( More than a million cubic meters of treated water from the Fukushima nuclear disaster site [may be released]( into the Pacific Ocean if Japan wins approval from the IAEA as expected tomorrow. The plan, which is needed to allow the full decommissioning of the Fukushima site, has soured ties with neighbors including China. Japan says that the release of the water is in line with standard industry practice. Explainers You Can Use - [Guns for Domestic Abusers, Agency Power Next Up at Supreme Court]( - [An 800% Stock Market Rally Puts Zimbabweans on Edge]( - [Will AI Take My Job? It's the Hot Topic This Summer]( South African authorities are working to secure the country’s removal from a global financial watchdog’s so-called gray list, which denotes nations with shortcomings in tackling [illicit financial flows](. The Paris-based Financial Action Task Force placed South Africa on its watchlist in February after an era of endemic government corruption and gave it until Jan. 31, 2025, to address the shortfalls. Check out the latest Big Take podcast for a discussion about whether America’s infrastructure can support an increasingly electrified economy and what can be done to avoid mass blackouts in the coming months. Listen [here]( and on [Apple]( and [Spotify](. News to Note - Ukraine came under [renewed attack]( from Iranian-made Russian drones today and shot down 13 out of 17 that were deployed across southern, eastern and central regions, its air defense force said. - Chinese Defense Minister Li Shangfu said Beijing wants [closer ties]( with Moscow’s military during a meeting today with Russian navy commander-in-chief Nikolai Yevmenov. - US President Joe Biden will leave for Europe on Sunday to [firm up ties]( with key NATO allies in the wake of the last month’s abortive uprising in Russia. - The [corruption trial]( of European Central Bank Governing Council member Peter Kazimir begins today, threatening embarrassment to the Frankfurt institution as one of its serving policymakers appears in a Slovak courtroom. - Thailand’s parliament is convening today for the first time since the May election to start the process of [forming a government]( by a coalition of pro-democracy parties seeking to end almost a decade of military-backed and pro-royalist rule. Thanks to the 61 people who answered our Friday quiz and congratulations to Willie Wynn, who was the first to name South Korea as the country whose citizens became a year younger last week when it joined international standards by no longer counting newborns as one year old. And finally ... Seoul’s Pride parade went ahead on Saturday after months of wrangling with officials who had rejected an application to hold the event at its usual spot in front of City Hall. Locals and tourists cheered as the event got under way, with revelers [draped in rainbow flags](, walking under colorful umbrellas or fanning themselves after a heat warning was issued earlier in the day. Hundreds of police and organizers lined the parade route, while some anti-gay protesters heckled the crowds. The Seoul Queer Culture Festival on Saturday. Photographer: Ahn Young-joon/AP Follow Us Like getting this newsletter? 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