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Donald Trump’s campaign is drawing support from white, working-class voters frustrated with the economy and with the Washington ruling class. Among them are a large group of Democrats and Democratic-leaning independents. According to a survey by Civis Analytics, Mr Trump fares best among self-identified Republicans who are actually registered Democrats (43 per cent).
Those grappling with the complexities of modern government can never win a shouting match with the likes of Mr Trump, writes Philip Stephens. However, what the Republicans have learnt, and Europeans should take note, is that mainstream politicians who flirt with crude populism will always find themselves outflanked.
After decades in which successive Republican and Democratic presidents have pushed to open US and global markets, resentment towards free trade now appears to have the upper hand in both parties (FT, NYT, WSJ)
In the news
Lula charged Brazil’s former president Luiz Inácio Lula da Silva has been indicted for allegedly concealing his ownership of a luxury beachside apartment, in a move likely to escalate a growing political crisis in Latin America’s biggest country. His lawyers confirmed the indictment but did not provide details of the charges. (FT)
China implements N Korea sanctions With each round of sanctions passed on North Korea, the million-dollar question is how strictly China, its main trading partner, will enforce them. So far, China has barred a North Korean freighter from one of its ports, one of 31 vessels blacklisted by China's Ministry of Transport after they were covered by the UN sanctions regime. (Reuters, The Diplomat)
Trudeau visits Washington On his first visit to the US as Canadian prime minister, Justin Trudeau warned against the danger of reacting to a smaller, globalised world by castigating others. Asked his opinion of “Trumpism” he said: “I think if I were American, I would be asking people right now about why is that so many people are angry at your politics?". (HuffPo, politico)
Amazon takes on FedEx and UPS The ecommerce company has agreed to lease 20 cargo jets from Air Transportation Services Group in its boldest step yet to control its own logistics operations. (FT)
Volkswagen’s US chief goes The German carmaker's emissions scandal has claimed its highest-ranking scalp in the country where the crisis started. Michael Horn said he was stepping down as head of US operations “to pursue other opportunities”. (FT)
Go Google Google has hit a milestone for artificial intelligence, as its AlphaGo computer outwitted the world champion of the ancient Chinese board game of Go. Lee Se-dol, the South Korean who has been the top player for a decade, was defeated in the first two of five games in the contest. He said after the first defeat that he was in “shock”. (FT)
Twitter pays out to rein in talent flight The company has been sweetening its employee compensation packages to stem a talent drain, a pressing move that may be followed by other tech companies with sinking stock prices. (WSJ)
Universal donor Doctors in the US have successfully altered patients’ immune systems to allow them to accept kidney transplants from previously incompatible donors, in a study that has been heralded as “revolutionary”. (NYT)
It's a big day for
Myanmar Aung San Suu Kyi has picked a long-time confidant to become the country’s new president, after failing to overturn a controversial constitutional clause that blocks her from the top job. Htin Kyaw, a friend of 20 years who runs a charity for the veteran pro-democracy leader, was chosen for what she has said will be a proxy job to carry out her decisions. (FT)
European rates Some of the continent’s most senior bankers have warned the European Central Bank of the dangers of negative interest rates ahead of a widely anticipated cut at the bank’s policy meeting. Here's what to expect. (FastFT)
Food for thought
Bitcoin loses Midas touch For technical reasons, the currency is starting to fail. Each block is small, so the system can handle only a few transactions at a time and as more have started to use it, it has grown less reliable. The problem is that coming up with a fix requires political agreement and without a centralised authority, there is no one to impose a mandate. Bitcoin’s creator, the pseudonymous Satoshi Nakamoto, apparently vanished years ago, leaving big decisions to an increasingly quarrelsome community. (FT)
When restoration goes awry The renovation of a medieval castle in southern Spain has sparked incredulity and mockery for its, well, less than authentic finish. (The Guardian)
Asia’s ‘last frontier’ With a population of 20m and a wealth of natural resources, the growth potential of Mindanao has never been in question. But 40 years of armed conflict between Muslim separatists and the Philippine government have meant it has largely gone untapped — until now. (NAR)
Video of the day
Seven fat years As markets await word from the European Central Bank, John Authers analyses the seventh anniversary of the post-crisis low for the US. (FT)