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| Presented By Bank of America |
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| Axios AM |
| By Mike Allen ·Apr 20, 2021 |
| ☕ Good Tuesday morning. Smart Brevity™ count: 1,092 words ... 4 minutes. Edited by Zachary Basu. 💻 Please join Axios' Margaret Talev and Ben Geman tomorrow at 12:30 p.m. ET for a virtual event on climate, featuring Senate Energy Committee Chair Joe Manchin and Southern Company CEO Tom Fanning. Sign up here. |
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| 1 big thing ... Scoop: Leak shows scope of Russian aggression |
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| Vladimir Putin photo op in Siberia last month. Photo: Kremlin Press Office via Getty Images |
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| Russia is holding last-minute military exercises that threaten to strangle Ukraine's economy, according to an internal memo from Ukraine's ministry of defense reviewed by Axios' Jonathan Swan and Zachary Basu. - Why it matters: With the eyes of the world on the massive buildup of troops in eastern Ukraine, the leaked document shows Russian forces escalating their presence on all sides of the Ukrainian border.
Zoom in: On Friday, Russia announced it intends to block foreign ships in parts of the Black Sea for military exercises through October — an escalation that a State Department spokesman condemned as an example of Moscow's "ongoing campaign to undermine and destabilize Ukraine." - Days earlier, the Pentagon called off plans to send two U.S. warships to the Black Sea, according to Reuters. No explanation was provided.
The leaked Ukrainian document estimates that the total area of Russian military exercises takes up 27% of the Black Sea — a proportion that has steadily crept up, in a sign of efforts to establish de facto control over international waters. - Russians are leveraging civilian infrastructure for military purposes, according to Ukraine. The document says Russia has installed radars on natural gas platforms that it seized from Ukraine after the 2014 annexation of Crimea.
The leaked document shows Russian forces are escalating their presence on all sides of the Ukrainian border. - It finds a "high probability" Russia may be trying to provoke Ukrainian forces to create a pretext for incursion, like in Georgia in 2008.
Keep reading. |
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| 2. China sees digital currency as new "commanding heights" |
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| Illustration: Rae Cook/Axios |
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| In a push to dominate global financial technology, the Chinese government is aiming to roll out the world's first state-backed digital currency, Axios China author Bethany Allen-Ebrahimian writes. - Why it matters: China's new currency could set global standards for the use of national digital currencies — and give Beijing unprecedented visibility and control over financial transactions.
At least 60 countries are exploring the use of an official digital currency, but China is furthest along in making those plans a reality, while the U.S. has largely sat on the sidelines. - China's government has started pilot programs in Beijing, Shanghai, and other cities that give small amounts of the currency — known as the Digital Currency Electronic Payment (DCEP) — to residents on a lottery system, with a limited number of retailers participating.
Between the lines: Chinese officials view digital currency as a key staging ground for global geopolitical competition. |
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| 3. Minneapolis waits, with nation on edge |
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| A worker boards up a store near the Minneapolis intersection where George Floyd died. Photo: Trevor Hughes/USA Today via Reuters |
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| Most experts don't expect jury deliberations in the Derek Chauvin case to drag out long, Nick Halter of Axios Twin Cities writes. - Jurors took 11 hours to render a guilty verdict on third-degree murder charges against former Minneapolis officer Mohamed Noor in 2019.
Go deeper: Video, key points from closing arguments. |
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| A message from Bank of America |
| A new standard for measuring global sustainability |
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| World Economic Forum's International Business Council, under the leadership of Bank of America CEO Brian Moynihan, introduced the world's first standardized ESG measurements. Through them, companies can track their impact when it comes to the principal ESG domains. |
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| 4. Final photo of Walter Mondale |
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| Photo: Teddy Mondale. Courtesy of Tom Cosgrove |
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| This photo shows Walter Mondale, just before he died yesterday at 93, holding a wedding picture with his late bride, Joan, in 1955. - The picture was taken by his son Teddy, and shared with Axios' Margaret Talev by family friend Tom Cosgrove.
- We're told Mondale was holding the wedding photo as he slipped away.
On Sept. 5, 1984, Democratic presidential candidate Walter Mondale and running mate Geraldine Ferraro wave as they leave a rally in Portland, Ore. Photo: Jack Smith/AP Mondale — who transformed the role of vice president while serving under Jimmy Carter, and in 1984 made Geraldine Ferraro the first female nominee for vice president — left this farewell note for former staffers: Dear Team, Well my time has come. I am eager to rejoin Joan and Eleanor. Before I Go I wanted to let you know how much you mean to me. Never has a public servant had a better group of people working at their side! Together we have accomplished so much and I know you will keep up the good fight. Joe in the White House certainly helps. I always knew it would be okay if I arrived some place and was greeted by one of you! My best to all of you! Fritz Go deeper: AP's Walter Mears and Kathleen Hennessey on Mondale's liberal legacy. |
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| 5. Axios-Ipsos poll: Americans like J&J pause |
 Data: Axios/Ipsos poll (3.3% margin of error). Chart: Andrew Witherspoon/Axios Most Americans support the pause in distribution of the J&J vaccine, and there's no evidence so far that it worsened vaccine hesitancy, Axios' Margaret Talev writes from the Axios/Ipsos Coronavirus Index. - Republicans were almost as likely to support the pause as Democrats, an indication this issue hasn't been politicized.
- 91% knew about the move — an extremely high level of awareness for a news event, showing how closely Americans follow vaccine news.
Keep reading. |
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| 6. Power watch: Antitrust icon |
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| Photo illustration: Sarah Grillo/Axios. Photo: An Rong Xu/The Washington Post via Getty Images |
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| Lina Khan's Senate confirmation hearing tomorrow for an FTC commissioner's seat marks a watershed moment in federal efforts to rein in Big Tech, Axios' Ashley Gold and Margaret Harding McGill write. - Why it matters: Khan is a hero for critics of tech who want to see broader principles replace the "consumer welfare" standard of antitrust, under which harm from a company's monopolistic behavior is judged largely by whether consumer prices rise.
Khan, 32, a Columbia law professor, rose to prominence in 2017 after arguing in a Yale Law Journal article, "Amazon's Antitrust Paradox," that Amazon's retail business should be separated from its selling platform. |
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| 7. First look: U.S. war games show China threat |
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| Courtesy Foreign Affairs |
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| Michèle Flournoy — co-founder of WestExec Advisors, and former Under Secretary of Defense for Policy — writes in a piece for the May/June issue of Foreign Affairs, "America's Military Risks Losing Its Edge": The Pentagon's own war games reportedly show that current force plans would leave the military unable to deter and defeat Chinese aggression in the future. The Defense Department's leadership ... must take much bigger and bolder steps to maintain the United States' military and technological edge over great-power competitors. Otherwise, the U.S. military risks losing that edge within a decade. This issue is the debut for Editor Daniel Kurtz-Phelan, who writes in an introduction to the issue, "Trade Wars": In a few short years, the near consensus has collapsed. ... Far from tempering geopolitical competition, trade has offered another means of waging it. Explore the issue. |
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| 8. Policy tale for 4/20: New weed limits |
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| Illustration: Lazaro Gamio/Axios |
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| Marijuana is no longer just a crumbled green plant rolled into a joint. It's concentrates, wax, gummies, sodas, shatter and more. - The newer products can boast higher levels of THC — the psychoactive component in cannabis. Lawmakers in several states are exploring caps on potency, John Frank of Axios Denver writes.
Why it matters: THC limits are the next frontier in the marijuana debate, and serve as a proxy for the legalization fight. |
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| 9. Record number of journos unionize |
 Data: Axios research. Chart: Andrew Witherspoon/Axios COVID has triggered a massive uptick in news media unionization efforts, union leaders tell Axios Media Trends expert Sara Fischer. - Insider yesterday became the latest digital media company to organize: Its U.S. editorial staff is forming a union with NewsGuild of New York.
Why it matters: The trend will only grow once people head back to work in person, says NewsGuild president Jon Schleuss. Three trends have pushed journalists to unionize over the past year: - Financial uncertainty.
- SPACS and consolidation.
- Social justice.
Keep reading. |
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| 10. 🏈 Football factories |
 Data: ESPN, Pro Football Reference. Table: Axios Visuals Ahead of the NFL draft (April 29-May 1 in Cleveland), Kendall Baker of Axios Sports breaks down hometown data for NFL QBs. |
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| A message from Bank of America |
| A benchmark for environmental and social progress |
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| "Stakeholder Capitalism Metrics help businesses large or small track their progress on critical environmental and social issues," says Brian Moynihan, Bank of America CEO. Learn how companies can now measure the results of their efforts in environmental, social and governance practices. |
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| 💡 Axios AM is written in Smart Brevity®. Learn how your team can communicate in the same smart, clear style with Axios HQ. |
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