Democracy at crossroads

The world is confronting an unwelcome bout of political volatility just when it’s needed least [View in browser]( [Bloomberg]( Donald Trump’s indictment for attempting to overturn the 2020 election points to the turbulence ahead going into next year’s ballot. Yet the US isn’t alone in entering a period of heightened political uncertainty. Key Reading: [Trump Prepares for First Court Date in DC on New Federal Charges]( [Popular Taiwan Mayor Stumbles in Bid to Lead in US-China Hotspot]( [Green Pledges Become Election Lightning Rod for Sunak and Labour]( [‘Electoral Manipulation’ Research Sparks Controversy in India]( Some of the world’s most populous countries face votes in 2024, from India to Mexico, Egypt and Indonesia. While each year brings a revolving door of ballots, next year’s electoral calendar looks especially onerous, with far-reaching implications for economies, investment and foreign policy. January sees Taiwan hold presidential and parliamentary elections that will shape the island’s stance on China, with consequences for the US as well as the world. Voting in the 27 nations of the European Union in June is likely to reflect a swing to the nationalist right across the bloc, with implications for Europe’s support for Ukraine in its war against invading Russian forces, and for the future of the EU itself. Russia is scheduled to hold presidential elections in March, and while the outcome is usually a foregone conclusion, this ballot is less predictable after June’s rebellion by Wagner mercenaries cast doubt on Vladimir Putin’s hold on power. Ukraine is also due to hold elections, though wartime martial law will have to be lifted first. Africa faces potentially epochal change in its most advanced economy with the prospect that South Africans toss out the African National Congress for the first time in the three decades since apartheid’s end. Polls suggest UK voters may ditch Prime Minister Rishi Sunak’s Conservatives for Labour, ending 14 years of turbulent rule that delivered Brexit. Democracy, as Winston Churchill said, is the worst system apart from all the others. As Trump appears in a Washington court today for the opening round of a fight for America’s democracy, it’s clearly alive and kicking elsewhere. But that doesn’t stop the world from confronting an unwelcome bout of political volatility just when it’s needed least. —[ Alan Crawford]( Trump speaks near the White House on Jan. 6, 2021. Photographer: Shawn Thew/EPA Listen to our [Twitter Space discussion]( on the signs in China of a significant economic slowdown after decades of supercharged growth. And if you are enjoying this newsletter, sign up [here](. Global Headlines Trump’s attempt to strong-arm Mike Pence into refusing to certify the 2020 presidential election result was [the linchpin]( of a scheme to defraud America, according to US prosecutors. Their indictment relies heavily on Trump’s treatment of his vice president, who was forced to flee the Senate chamber in the Capitol on Jan. 6, 2021, as a mob of Trump supporters attempted to prevent Pence certifying Joe Biden’s victory. The UK government unveiled a fresh attempt to [bolster security]( of critical energy infrastructure like gas pipelines. The new National Risk Register reflects concerns that heavy reliance on gas supplies piped from Norway via subsea links leaves the country’s energy network vulnerable. Downing Street is worried about the potential threat from Russia, and malicious use of drones to disrupt vital transport, cables and other infrastructure. Floating solar panels are being installed on bodies of water in former coal pits and stone quarries, and in hydropower lagoons all over Europe. The World Bank figures the region could cover [at least 7% of its annual power consumption]( by deploying “floatovoltaics” on just 10% of artificial lake surfaces. Thailand’s Constitutional Court prompted parliament to suspend a vote to select a new prime minister, with a property tycoon set to unveil [a new coalition]( to try to break a political stalemate keeping investors on edge since May elections. Srettha Thavisin’s Pheu Thai Party, linked to former premier Thaksin Shinawatra, has parted ways with first-placed Move Forward as it looks to secure backing from the assembly. Best of Bloomberg Opinion - [The Long Arm of Russia and the Politics of Uranium: Javier Blas]( - [Trump’s Mothership of Lies Hits Rocks of Reality: Opinion Wrap]( - [Are Republicans Tired of the Sordid Trump Show Yet?: Editorial]( Sanctions imposed by Niger’s neighbors in the wake of a military coup are beginning to bite, the nation’s ambassador to the US, Kiari Liman Tinguiri said in a Bloomberg TV [interview]( yesterday. Officials from the Economic Community of West African States arrived in Niger’s capital for negotiations with the coup leaders aimed at persuading the junta to reinstate the nation’s democratically elected president. Explainers You Can Use - [Hunter Biden Made Over $4 Million Amid ‘Nonstop Debauchery’]( - [How an Ex-Goldman Banker Fought US Sanctions Over Russia and Won]( - [Why Everyone Is Obsessed With Ambient Superconductors]( Tens of thousands of Darfuri refugees have been displaced by months of fighting that’s pitted a paramilitary group and allied militias against the Sudanese army and ethnic Masalit fighters. As Simon Marks and Mohammed Alamin report, [the extreme violence]( that’s rocked the west of Sudan has evoked memories of a years-long conflict that erupted in 2003 and saw civilians being targeted based on their ethnicity. People wait to board a bus from Sudan’s Qalabat border crossing with Ethiopia on July 31. Source: AFP/Getty Images As Trump faces his third indictment, Bloomberg’s Sara Forden and Zoe Tillman sit down with Wes Kosova to break down the latest charges from Special Counsel Jack Smith, what happens next and what it means for the 2024 presidential race. Listen to their conversation on The Big Take podcast on [Apple](, [Spotify](, or wherever you listen. News to Note - Tunisia’s President Kais Saied replaced his prime minister with a little-known figure, injecting [fresh uncertainty]( into a deal hashed out by the government to secure a $1.9 billion lifeline from the International Monetary Fund. - Canadian Prime Minister Justin Trudeau and his wife Sophie are [separating]( after 18 years of marriage, marking an end to an unusually high-profile partnership for a leader from the country. - North Korea’s government reached out to the UN to acknowledge the [presence]( of Private Second Class Travis King, the US soldier who bolted across the border from South Korea last month, according to the US State Department. And finally ... Almost six years after pharmaceuticals billionaire Barry Sherman and his wife Honey became two of the wealthiest people ever to be [murdered](, police still haven’t identified the killers. But, as Matthew Campbell and Ari Altstedter report, they’ve turned up no shortage of potential suspects — and a bare-knuckle family drama rife with vendettas and grudges, accusations and rumors, centered on a dominant patriarch and a next generation vying for his favor. The Shermans were found dead inside their home in 2017 and police later ruled it a double homicide. Fred Lum/The Globe and Mail More from Bloomberg - [Washington Edition]( for exclusive coverage on how the worlds of money and politics intersect in the US capital - [Economics Daily]( for what the changing landscape means for policy makers, investors and you - [Supply Lines]( for daily insights into supply chains and globe trade - [Bw Daily]( for unique perspectives, original reporting and insightful analysis from Businessweek’s renowned journalists - [Green Daily]( for the latest in climate news, zero-emission tech and green finance Explore more newsletters at [Bloomberg.com](. Follow Us Like getting this newsletter? 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