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Is King Charles III the "Wolf" of Buckingham Palace?
Britain's King Charles III was only four years old when his mother was crowned in 1953. But at 74, he's now the oldest person to be crowned in British history, Ian Bremmer explains on GZERO World.
He hasn't spent the past 50 years just sitting around, though - he's transformed his private estate, the Duchy of Cornwall, into a billion-pound business empire.
In 2021, it was worth over a billion pounds, and Charles had received £23 million from it.
While the family does bring in a lot of money for the UK economy, some are questioning the Windsors' ballooning personal fortune in a time of economic crisis.
Northern Ireland trade deal ends Brexit but not UK's economic woes
Ian Bremmer shares his insights on global politics this week on World In :60.
Will the UK finally move past Brexit now that a Northern Ireland trade deal has been resolved?
Oh, it's only been, what, six years. My God. And Brexit finally concluded now that Prime Minister Sunak has taken on his own Conservative Party and said, "No, we're just going to finally move on this." And people are sick of the economic challenges, that's, in part, why Truss got washed out so quickly as former PM, and it's also why he had the space to get this done. It means that you're not worried about the so-called hard border between Northern Ireland and Ireland, and therefore, between the UK and the EU, and it means that the Brits can move on. But moving on, of course, still means that they no longer have integration with the world's largest common market, and that means that their performance economically will continue to drag below all of the rest of Europe and the United States, and that's really unfortunate. It's a massive own goal.
Will recent violence in the West Bank escalate into something more?
I expect so. I mean, keep in mind that you have no effective governance for the Palestinians in the West Bank or Gaza, you've got an incredibly right-wing coalition government led by Bibi Netanyahu, with only the thinnest of margins to keep the coalition intact, and no interest in moving forward on a two-state solution, and a great deal of interest in taking more land from the Palestinians. I saw an op-ed written in Haaretz, an Israeli center-left newspaper, just the other day, that claimed that Netanyahu was pushing forward a policy apartheid. You don't see that kind of commentary in Israeli newspapers about their own government. This all implies a lot more fighting between Israelis and Palestinians. The Americans inflectionally pushing from the sidelines, nobody really prioritizing the conflict or the issue, either in the region or in Washington, and certainly the Israelis and the Palestinians not having remote political interests try to back down and come to the table. All of that implies a lot more fighting going forward.
Why are Mexicans protesting AMLO's electoral law change as well?
Because he's trying to undermine the influence of the electoral commission. New legislation being put forward, some of it seemed to be against the Constitution and pushed back by the Supreme Court in Mexico, but some of it moving forward. People are angry, just like they have been in lots of countries, lots of democracies, where democratic institutions are getting weakened. For example, in Israel on the Supreme Court, you've seen massive demonstrations. That's basically what you're seeing right now in Mexico, an awful lot of people turning out on the streets, as we saw last weekend, against an effort to undermine checks and balances in a democratic country. The good news is that these democratic institutions are stronger and more resilient than a lot of the headlines would have you believe.
US House Speaker Nancy Pelosi (D-CA) wields the gavel as she presides over the first impeachment of President Donald Trump.
What We’re Watching: Pelosi’s farewell, #RIPTwitter, Malaysian vote, Iranian rage, UK austerity
Pelosi takes a final bow
Nancy Pelosi is standing down as leader of the Democratic Party in the US House, but she’ll remain in Congress as a representative of San Francisco. She was both the first woman to serve in the ultra-powerful role of House Speaker and a hate figure for many on the right. Pelosi’s personal toughness, Herculean fundraising prowess, and ability to hold together the typically fractious Democratic Party in the House will remain her legacy for Democrats. For Republicans, seeing her pass the gavel to one of their own in January will mark a moment of triumph in an otherwise disappointing midterm performance. In announcing her plans, Pelosi noted that “the hour has come for a new generation to lead the Democratic caucus.” At a moment when both parties are led by politicians of advancing age, that’s a big step – and a trend we’ll be watching closely as a new Congress takes shape and the next race for the White House begins. Eurasia Group US Managing Director Jon Lieber says his bet is on 52-year-old Hakeem Jeffries taking the Democratic reins. If Jeffries gets the job, he'll make history as the first Black politician to lead a party in Congress.
The fate of an endangered bluebird
Are these possibly the final hours for Twitter? Will the social media company, recently purchased and immediately upended by Elon Musk, survive longer than the proverbial head of lettuce? No one really knows now, after the company announced late Thursday that its offices would be closed until Monday as it deals with mass resignations. The wave of departures was triggered by Musk’s hardass demand earlier this week that employees agree to a “hardcore” work environment or take three months of severance and be gone. Hundreds, if not thousands, evidently took option two. Taken alongside an earlier wave of Musk’s planned layoffs, some estimates say as many as three-quarters of the company’s workers could be gone now. Will Musk take the L and backtrack on his “hardcore” demand, or will he double down and try to run the company with a skeleton crew? Regardless, just weeks into the era of Musk, Twitter is looking less like the free speech “town square” that he envisioned and more like the town circus.
Malaysia’s election head-scratcher
Malaysians go to the polls Sunday to vote in their first national election since 2018, when the opposition Patakan Harapan Party ended the Barisan Nasional coalition's 60-year stranglehold on power after then-PM Najib Razak got busted in the billion-dollar 1MDB corruption scandal. Since then, though, Patakan has lost its mojo due to infighting and defections to Najib's own UMNO party, which — we kid you not — is now part of the coalition government. Further complicating things is that Patakan's new leader is Najib's old mentor, former PM Mahathir Mohamad, who's running for a seat in parliament — and perhaps the premiership for the third time — at the ripe young age of ... 97. Meanwhile, Najib is behind bars. Malaysian politics take complicated to a whole new level, but the gist of it is this: It's unlikely any party will get an outright majority, so the most likely outcome is a hung parliament that'll result in another shaky coalition or a fresh election.
Rage fuels Iran protests
“We’ll fight! We’ll die! We’ll take back Iran!” protesters are chanting in Tehran these days. And indeed, many have fought and died. At least 15 were reportedly killed on Wednesday night, including a 9-year-old boy, amid widespread demonstrations against Iran’s repressive regime and Supreme Leader Ayatollah Ali Khamenei. The country has been rocked by protests since mid-September, when 22-year-old Mahsa Amini was beaten to death by cops for wearing her hijab “improperly.” The last couple of days have seen commemorative demonstrations to mark the deadly Nov. 2019 protests that erupted over fuel prices. The Islamic Republic is reportedly growing concerned by the increasing violence involved in demonstrations, with government rhetoric referring to “armed” protesters as “separatists” and even “terrorists.” Thousands have been arrested, and at least four protesters have been sentenced to death. We’ll be watching this weekend with concern for how heated and deadly things get.
Britain braces for economic hardship
2022 has been tough for Brits — and the next 18 months will be even worse. On Thursday, Chancellor of the Exchequer Jeremy Hunt finally unveiled his much-awaited fiscal plan, the first under PM Rishi Sunak, warning families that their living standards could fall by as much as 7% until at least mid-2024. Nixing almost all of the tax-cutting yet free-spending "mini-budget" that cost Liz Truss her premiership a month ago, Hunt confirmed big tax hikes and spending cuts that Downing St. cannot avoid in order to keep the UK's finances in check amid a deep economic crisis and energy crunch. The chancellor's message was dark: Brits will need to tighten their belts to get through this rough patch. Still, how the people cope with austerity could determine Sunak’s political fate. The newly minted PM is not required to call a new election until the end of 2024, but he might not have a choice if voters blame him for their dire straits. And that's just what the opposition Labour Party — now leading the polls by more than 40 points, its biggest margin ever — is waiting for.This was featured in Signal, the daily politics newsletter of GZERO Media. For smart coverage of global affairs that normal people can understand, subscribe here.
Can Rishi Sunak restore UK economic and political stability?
Carl Bildt, former prime minister of Sweden, shares his perspective on European politics.
What are the key tasks for the new UK Prime Minister Rishi Sunak?
Well, basically restore some credibility in the ability of the UK to govern itself in a reasonable way after the tumultuous months that we have seen. That applies to management of the economy. That applies to, sort of, cohesion in the Conservative Party. And that applies also, to restoring some sort of sense in the approach to cooperation with the rest of Europe. So quite a tall order.
Will European support for Ukraine hold up as a cold winter might be approaching?
I'm quite confident it will. And as a matter of fact, if you look at the gas situation in Europe after the cut-up of all Russian gas, it looks better than most people had thought. I mean, the reserves are filled up fairly well. And if is not going to be a particularly hard winter, I think it looks fairly okay, there will be some difficulties, but overall, quite confident support will hold up. Very strong statement on those lines, by the way, by the new Italian prime minister as well.
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UK's Liz Truss & Charles III face tough challenges ahead
In early September, in just 48 hours the UK got a new prime minister (Liz Truss) and a new king (Charles III, after the death of Queen Elizabeth II).
Both take over at a turbulent time in British politics, but Truss in particular faces a list of domestic obstacles with no easy fix. Her top priorities are the economy and the energy crisis aggravated by Russia's war in Ukraine, Ian Bremmer explains on GZERO World.
And then, of course, there's Brexit, which never seems to go away. Truss is bracing for a fight with Brussels over the Northern Ireland protocol.
Meanwhile, Charles III will also have to grapple with the future of the Commonwealth and the looming threat of another Scottish independence vote.
This clip is part of the GZERO World episode on upheaval in the UK. Watch here.
UK Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng attend the annual Conservative Party conference in Birmingham, Britain
What We’re Watching: UK PM's budget U-turn, OPEC mulls production cut, Yemen truce expires
Truss’s tax U-turn
Will it be enough? New British PM Liz Truss’s government has reversed course on its economic agenda. Chancellor Kwasi Kwarteng told the Conservative Party conference on Monday that a proposal to scrap the UK’s 45% tax rate for high-income earners would be axed. He cited the recent market chaos and vowed that there would be “no more distractions” in pursuing the rest of the government’s proposed tax policies. This caps a dismal couple of weeks for the new Tory leadership during which the Bank of England tried to calm markets after Kwarteng introduced £45 billion ($49 billion) worth of tax cuts despite sky-high inflation. The upheaval also caused the pound to plummet against the greenback (it regained some value on Monday). Truss and Kwarteng said they changed tack after listening to voters struggling amid the cost-of-living crisis. But it had become clear that the plan would have struggled to pass the House of Commons. The top tax rate accounted for just £2 billion of the proposed tax cuts, so this reversal will only go so far in placating opponents and markets. Truss addresses the party conference on Wednesday, and after her rocky start, we’ll be watching to see whether she can win support for her economic plan – and revive her party’s dismal approval rating enough to stay in the top job.
OPEC Plus prepares to cut oil production
OPEC Plus, the Saudi-led oil cartel plus Russia, is expected to announce a major cut in oil production at its meeting on Wednesday in a bid to reverse falling petroleum prices. Thanks to rising interest rates in the US and elsewhere, a sharp economic slowdown in China that’s partly related to its “zero-COVID” lockdown strategy, and the impact of inflation in many parts of the world, demand for oil has weakened in recent months. Prices have fallen by about one quarter since June to around $85 a barrel on Friday. If the Saudis lead the way on cuts, the decision will mark a rejection of pressure from the Biden administration to keep oil in the market to ease upward pressure on prices. Russia’s energy production future is also becoming an important question. By including Russia in output decisions, the Saudis and other OPEC members boost their own leverage in global markets, but Western sanctions and export controls, and Europe’s move to end its reliance on Russian energy, will reduce Russia’s ability to meet production targets in years to come, leaving Moscow a less valuable partner for OPEC over time.
Yemen’s best shot at peace (so far) falls apart
The warring parties in Yemen’s civil war failed to renew a UN-brokered ceasefire after six months, the longest and most hopeful lull in violence since the conflict began in 2014. The truce between the internationally recognized, Gulf-backed Yemeni government and the Iran-linked Houthi rebels who have taken over large swathes of the country, first went into effect in April. It partially restarted flights between the Houthi-controlled Sanaa airport and other Arab capitals, loosened the international blockade on the port of Hodeidah, which is also under Houthi control, and envisioned the Houthis lifting their siege of the strategic, government-controlled city of Taiz. The truce was renewed once after three months, but further talks fell apart in recent days as the two sides were unable to agree on a fuller opening of the airport, Hodeidah, or Taiz. They also clashed over funding the salaries of Yemen’s government bureaucrats, who haven’t been paid in years. The pact’s collapse raises the specter of fresh violence in a conflict where violence and famine have already killed close to half a million people.
Upheaval in UK: the sobering challenges facing new PM Truss & new King Charles III
In early September, in just 48 hours the UK got a new prime minister (Liz Truss) and a new king (Charles III, following the death of Queen Elizabeth II).
Both take over at a turbulent time in British politics, with no shortage of current and future challenges. To name just a few: a stagnant economy, sky-high energy prices, more Brexit fallout with the EU, and Scots demanding a fresh independence vote.
On GZERO World, Ian Bremmer speaks to former British PM Tony Blair (1997-2007), who believes there will be a lot of uncertainty over the next year or two if Truss insists on big tax cuts and big borrowing.
Blair also looks back at the queen's legacy and the future of the monarchy, explains why Brexit will hurt but probably not fragment the UK, and defends why we need to return to his comfort zone of the political center to fix today's problems.
- What is the Commonwealth? - GZERO Media ›
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- Remembering Queen Elizabeth II - GZERO Media ›
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- Tony Blair on Liz Truss & a post-Brexit UK on the brink - GZERO Media ›
- US debt limit: default unlikely, dysfunction probable - GZERO Media ›
Podcast: "United" Kingdom? Tony Blair on Truss, Charles, Brexit, and division in UK & beyond
Listen: In the span of just 48 hours in early September, the United Kingdom got a new prime minister, Liz Truss, and a new monarch, King Charles III. Both face big challenges in their new roles. For Truss, the Tory leader: a range of issues from inflation to the ongoing fallout of Brexit. For Charles: the relevance of the monarchy itself, now that Britain's longest-serving and much-beloved queen is gone. The United Kingdom also faces staggering inflation and a looming energy crunch. On the GZERO World Podcast, Ian Bremmer talks with a man who occupied 10 Downing Street for a decade - former prime minister Tony Blair - about the road ahead for his country. Blair believes there will be a lot of uncertainty over the next year or two if Truss insists on big tax cuts and big borrowing. He also looks back at the queen's legacy and the future of the monarchy, explains why Brexit will hurt - but probably not fragment - the UK, and argues that we need to return to his comfort zone of the political center to fix today's problems.