Tensions Rise in Persian Gulf, Chamber Comes Out: Weekend Reads

(Bloomberg) --

Tensions in the Middle East climbed to their highest point in President Donald Trump’s presidency after Iran shot down a U.S. spy drone over the Persian Gulf, while millions took to Hong Kong’s streets to call for the resignation of embattled leader Carrie Lam.

Read about those topics and more in this edition of Weekend Reads, and click here for some of Bloomberg’s most compelling political images from the past seven days.

Global Headlines

Trump’s Immigration Policy Shows Why Jails Are Risky Investments
Jails and detention centers, once looked upon as cash cows for struggling municipalities, are now caught up in the bitter national debate over immigration. With Trump moving aggressively to detain and deport undocumented individuals, some local governments are bridling at being in business with U.S. Immigration and Customs Enforcement.

Mexico’s Other Border Is Rattled by Armed Crackdown Along River
The rafts, made of plywood planks lashed to fat inner tubes, float back and forth all day. From Mexico to Guatemala, it’s usually cooking oil, rice, cases of Corona and cartons of eggs. It’s mostly people going the other way, many headed for the U.S. But the arrival of thousands of troops Mexican President Andres Manuel Lopez Obrador is sending to the border may put an end to it all. 

Carrie Lam Clings to Hong Kong's ‘Impossible Job’ After Protests
Historic crowds shut down central Hong Kong and called on embattled leader Carrie Lam to step aside. But nobody seems sure who should replace her. Many of the protesters who turned out said Lam’s days were numbered, even after she “paused” a bill that would for the first time allow extraditions to China.

The U.S. Chamber of Commerce Has a Coming-Out Party
The venerable U.S. Chamber of Commerce — the biggest U.S. lobbying organization and the voice of business on Capitol Hill — is coming out. After decades of silence on issues of sexuality and gender identity, it’s become a staunch supporter of the proposed federal Equality Act, which makes explicit civil rights protections for LGBT citizens.

As Cocaine Production Explodes, Colombia Tries to Appease Trump
Trump has threatened to cut off loans and other forms of aid to Colombia if it can’t restrain cocaine production, which has more than tripled since 2013. The move couldn't have come at a worse time — the armed groups that profit from the illegal trade are fighting back, planting homemade mines on footpaths and between coca shrubs to protect their investment.

Furious at Trump, Mexicans Ask How to Break Dependence on U.S.
Mexico City’s Zocalo has been the focus of national protests and celebrations since the Spanish conquest. The mood on the capital’s central square now is one of anger at the U.S. under Trump, with the impact of his policies leading some to question their dependence on the U.S. market.

Britain’s Next Prime Minister Has Probably Already Lost Scotland
While the Tories squabble over Brexit in London, the Scots are reminded of how alien all that English politicking is. Statehood is again on the agenda in Edinburgh as Brexit raises uncomfortable questions about the very union that defines the U.K.

In Merkel’s Twilight, German Greens Ride to Brink of Power
When the scruffy Greens marched into German parliament nearly four decades ago in jeans and sneakers, they were sidelined and ridiculed. Now the party has a legitimate shot at governing Europe’s largest economy, with Chancellor Angela Merkel’s coalition hanging by a thread.

Mini-Bills Spring From Italy’s Creative-Currency Tradition
Young Jens Weidmann was puzzled. While vacationing with his family in Italy during the late ’70s, the future Bundesbank president wondered why locals sometimes used phone tokens in lieu of actual coins. As a top candidate to succeed Mario Draghi as head of the European Central Bank, Weidmann may yet have to grapple with the fallout from Italy’s soft spot for creative currencies.

China’s Most Advanced Big Brother Experiment Is a Bureaucratic Mess
The city of Suzhou, known as “the Venice of the East,” captured the imagination of Marco Polo when he journeyed through China more than seven centuries ago. Today it’s drawing attention for another grand project: a sprawling network of databases that track the behavior of China’s population.

Don’t Be in a Rush to Do Business in World's Top Cobalt Producer
When a foreign investor with multimillion-dollar projects across Africa was told the president of the Democratic Republic of Congo wanted to see him, he booked a suite at one of the country’s top hotels. After six days of waiting, he left. Since Felix Tshisekedi took power five months ago it’s been slow going — he only appointed a prime minister last month and hasn’t yet named a cabinet.

And finally ... In virtually every French family’s medicine chest, there’s at least one tube of pills that look something like Tic Tacs. Just like the mints, they consist mainly of sugar, but these aren’t candies. They’re homeopathic meds that many French and their doctors swear by. Now these alternative remedies are under siege as a debate rages over whether the government, which subsidizes about a third of their costs, should continue to pay.

To contact the editor responsible for this story: Karl Maier at kmaier2@bloomberg.net

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