What We're Watching
Indonesians force government to shelve election law overhaul
Indonesian President Joko Widodo at Admiralty House, Sydney Tuesday, July 4, 2023
(AAP Image/Pool, David Swift)
The government is now promising there will be no changes to election laws before the November polls. Conceding likely saved them from having to deal with more protests planned for Friday, but it also cleared the way for Anies to stand for governor of Jakarta, an influential post that would position him to grapple with his political rivals.
That — and the fact that the protests triggered a sharp drop in the rupiah and Indonesian stocks — could cause headaches for the incoming Prabowo administration. It will be under pressure to match Joko’s economic achievements, which were accompanied by significant democratic backsliding.
We’re also keenly watching the effort to move Indonesia’s capital from Jakarta – Anies’ base of power – to Nusantara, a new city being built in the pristine (and thus politically untainted) jungles of Borneo where Subianto might operate without as much flak.
Ian Bremmer sits down with Ivan Krastev, Chairman of the Centre for Liberal Strategies and political scientist, to discuss Hungary's consequential upcoming election and what it means for the far right globally.
A new US regulatory framework sets clear rules for stablecoins, defining issuer responsibilities and laying the groundwork for consistent federal and state oversight. With guardrails in place, stablecoins are shifting from crypto experiment to payment infrastructure. Explore the stablecoin framework with Bank of America Institute.
See: “Raphael: Sublime Poetry at the Met.” The first Raphael retrospective ever mounted in the US is running through June 28 at the Met Museum.
Forty-eight countries have officially qualified for the World Cup, after Iraq booked the final spot with its win against Bolivia on Tuesday.