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Hard Numbers: Australia ups its defense game, Biden’s emission limits, deadly blasts in Pakistan, Champagne destroys beer (literally)
Map of China and Australia.
GZERO Media
19 billion: Following a major defense review, Australia is forking out A$19 billion ($12 billion) to conduct its biggest military overhaul since World War II. With an eye on China’s expansionism in the South China Sea and its increasingly dicey bilateral relations with Beijing, Canberra will procure missiles with longer striking capabilities, with munitions built domestically.
3,400: The Biden administration will soon announce limits on the amount of greenhouse gas emissions coming from existing power plants, compelling the country's 3,400 plants to use carbon-capture technology. Currently, the plants — only 20 of which use the technology — generate a quarter of the country’s planet-warming pollution.
17: At least 17 people were killed in northwest Pakistan on Monday when two explosives went off at a police counterterrorism office in Kabal. It’s unclear who was behind the attack, but there has been an uptick in terrorism in recent months, particularly in border regions.
2,352: Belgian customs authorities crushed 2,352 cans of perfectly good Miller High Life beer after the Comité Champagne – which represents growers and traders of the French bubbly – complained that the American beer behemoth’s use of the “champagne of beers” slogan infringed upon the region’s protected right to the term “champagne.” Belgian customs said the Comité Champagne even covered the bill.On the GZERO World Podcast, Ian Bremmer sits down with Harvard economist and former IMF Deputy Managing Director Gita Gopinath to unpack how the conflict is rippling through the global economy. As oil and gas prices surge, inflation is climbing, adding new costs for households and businesses and putting pressure on growth worldwide.
Think you know what's going on around the world? Here's your chance to prove it.
The revenue generated by Russia’s main oil tax in April amid the Iran war, per Reuters calculations. The amount is double last month’s revenue, and up by 10% from this time last year.
The Iran war has pushed Brent crude prices to $100 per barrel, up from around $70 before the conflict began.
For sixteen years, Prime Minister Viktor Orban has won every fight: four consecutive parliamentary supermajorities for his party, Fidesz; a constitution rewritten to his specifications; courts, media, and oligarchs brought to heel.