Leaders confronted with a migration crisis have a stark choice: They can either cover the political and financial costs to stop the flow of people at the source or pay the bill when they arrive.
As the European Union faces what its members have branded a “hybrid attack” in the form of thousands of Middle Eastern and other travelers escorted to the eastern border by Belarusian strongman Alexander Lukashenko’s government, it’s at risk doing neither.
Last decade, the EU joined the U.S. in staying largely on the sidelines of Syria’s civil war even as millions of people fled to the security of the bloc. The consequences included a spike in support for far-right parties and the anti-immigration sentiment that played a role in Brexit.
This time, EU members Poland, Lithuania and Latvia are calling for help as they push back thousands of migrants in a potential humanitarian crisis that’s escalating as northern Europe’s winter hits.
After meeting U.S. President Joe Biden yesterday, European Commission President Ursula von der Leyen said the EU was preparing to ramp up existing sanctions against Lukashenko and his allies. It’s also discussing targeting airlines and other entities deemed to be helping traffic people.
Key Reading
Lukashenko upped the ante today, saying he might consider shutting down the pipeline crossing Belarus that delivers gas from Russia to the EU in response to further sanctions. Yesterday his main backer, Russian President Vladimir Putin, told German Chancellor Angela Merkel to deal with Lukashenko directly.
While Lithuania has called for a humanitarian corridor to send the migrants back to their home countries, there’s no talk at present of the EU taking in the Iraqis, Afghans and other people huddled on the border.
The questions of how much this crisis will cost and how it could be resolved remain open. — Michael Winfrey
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Global Headlines
Just In: Former South African President F.W. de Klerk died today after he was diagnosed with cancer. He was 85.
Inflation cure | Biden acknowledges Americans are feeling the pain of prices rising at their fastest pace in more than 30 years but says his $550 billion infrastructure bill will ease the supply chain bottlenecks stoking inflation. Read our story about the comments he made during a visit to Baltimore.
- The world’s food-import bill is set to jump even more than expected to a record this year, increasing the threat of hunger, especially in the poorest nations.
Stepping in | Beijing’s efforts to limit the fallout from China Evergrande’s crisis are gathering steam, with state media signaling support measures are coming to help developers tap debt markets, potentially easing a liquidity crunch. But as this story lays out, the moves would fall far short of a bailout of the embattled sector and don’t suggest President Xi Jinping is abandoning his policy that limits borrowing by property firms.
- Xi delivered the first doctrine on Communist Party history by a Chinese leader in 40 years, giving him the mandate to potentially rule for life as a major summit wraps up in Beijing. Click here for the details.
Share of Youth Not in Employment, Education, or Training
Data: International Labour Organization
Carefully laid career paths that lead to dead ends, college degrees that don’t open doors: When the pandemic fades, the crisis will continue for young workers in emerging economies. While warnings of lost generations aren’t new, the challenge is to create enough jobs for those joining the workforce. Even before the pandemic, the United Nations estimated 600 million new jobs would be needed over the next 15 years.
Widening inequality | A popular policy to fight climate change known as carbon pricing runs the risk of disproportionately hurting the world’s poorest households. That’s because they tend to spend a larger share of their income on gas, heat and other emissions-generating activities. Click here to read our report by Jana Randow and Reade Pickert.
- A surprise statement by China and the U.S. vowing to work together to slow global warming injects new momentum into the last days of the COP26 climate talks.
Best of Bloomberg Opinion
Triggering troubles | Northern Ireland will be better off if the U.K. government invokes Article 16 of the Brexit agreement and suspends part of the deal. The region’s agriculture minister, Edwin Poots, explained why he sees merit in such a controversial step to Morwenna Coniam.
Slowing down | China’s population may already be shrinking. There will be between 9.5 million to 10.5 million newborn babies this year, independent demographer He Yafu wrote on his social media account. He added: “If the number of newborns is near the lower limit of the prediction, that means the population will register negative growth.”
Bloomberg TV and Radio air Balance of Power with David Westin weekdays from 12 to 1pm ET, with a second hour on Bloomberg Radio from 1 to 2pm ET. You can watch and listen on Bloomberg channels and online here or check out prior episodes and guest clips here.
News to Note
- Hong Kong jailed a former food delivery worker for five years and nine months for chanting a banned protest slogan, as authorities use a Beijing-drafted national security law to set limits on free speech.
- The U.S. Treasury Department sanctioned two senior Cambodian defense officials for corruption related to a naval base with links to China.
- The new U.S. defense pact with Australia that’s strained ties with France wasn’t discussed during Vice President Kamala Harris’s meeting with President Emmanuel Macron.
- South Africa believes its strict measures to reduce the spread of Covid-19 may limit the severity of its next wave.
- A Sudanese court ordered the restoration of mobile internet access cut off since a coup more than two weeks ago, a potential boost for activists planning protests against military rule.
- Hong Kong ordered 120 school students into quarantine and recommended an international school close after exposure to the family of a Cathay Pacific pilot who tested positive for Covid-19.
And finally ... Herders in Senegal searching for water, Peruvian indigenous tribes chasing away illegal loggers and Los Angeles planners seeking to plant trees to cool the hottest neighborhoods are relying on a little-known arm of Google. Leslie Kaufman reports on how Google Earth Engine’s trove of open source satellite imagery and its scientists help answer critical questions for conservation groups, city agencies, community advocates, and researchers.
— With assistance by Alan Crawford
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