The Evening: Stock Markets Reeling, Mideast Braces, The Gorge, and More

Newsletter - August 5, 2024

Stock Markets Reeling

A sudden global panic is upending financial markets and cratering the value of stocks, currencies, even bitcoin-but economists say it's not a surefire sign that the country is headed for a downturn, as The Washington Postreports.

Bangladesh's Leader Resigns and Flees Country

Jubilant crowds thronged the streets of Bangladesh's capital on Monday after Prime Minister Sheikh Hasina resigned and fled the country. The army chief said in a statement to the nation that the army would oversee the formation of an interim government, as the NYT reports.

Mideast Braces

The Middle East braced for another round of violence Monday, after U.S. Secretary of State Antony Blinken said on a call Sunday with Group of Seven foreign ministers that Iran could attack Israel within 24 to 48 hours, according to two diplomats briefed on the call. And, as the WSJ reports, on Monday morning, Iran issued a notice to pilots and aviation authorities warning of likely disruption to GPS and navigational signals, which are used by pilots for positional data and to follow flight routes.

Executive Education

As technology evolves, new opportunities and threats emerge. Critical technological advances will shape policy, redefine security, and impact our lives. Explore the evolution of key technologies-including artificial intelligence, quantum computing, and biotechnology. Register for Evolving Technologies: Innovation, Competition, and Change to learn more.

Audio Briefs

CSIS now offers full audio versions of our latest analysis. Listen to CSIS's Christopher B. Johnstone and Gregory B. Poling's latest Critical Questions, "A Tale of Two 2+2s: Japan and the Philippines."

In That Number

15

Bangladeshi Prime Minister Sheikh Hasina resigned and fled the country Monday as protesters stormed her residence and set fire to government offices, marking a dramatic end to a 15-year rule that had faced violent opposition in recent months.
Source: The Washington Post

Critical Quote

If Iran uses its right to punish [Israel], it is to establish stability in the region.

- Nasser Kanaani, Iran's Foreign Ministry spokesman

iDeas Lab

Photo: iLab/CSIS

The U.S. dollar is at the center of the global economy, comprising 90 percent of foreign exchange transactions and 60 percent of foreign reserves. CSIS's new explainer series "Defending the Dollar" dives into the world of global trade and finance to show how currencies and geopolitical power are fundamentally linked.

The Andreas C. Dracopoulos iDeas Lab at CSIS enhances our research with the latest in cutting-edge web technologies, design, and multimedia.

Optics

Photo: Vitalii Nosach/Global Images Ukraine/Getty Images

Ukrainian President Volodymyr Zelensky stands in front of the first General Dynamics F-16 Fighting Falcons received by Ukraine and speaks to Ukrainian military personnel on August 4, 2024, in an undisclosed area in Ukraine.

Recommended Reading

"Coming Home after Being a Hostage Abroad" by CSIS's Jason Rezaian in The Washington Post.

This Town Upcoming

Tomorrow, at 3:30 p.m., the CSIS China Power Project hosts a panel in Taipei, Taiwan, on the PRC's Anti-Secession Law and its implications for cross-Strait relations.

On Wednesday, at 10:00a.m., the CSIS International Security Program hosts FIFTH Fleet Commander VADM George Wikoff, USN, to discuss how the U.S. Navy is helping preserve the free flow of commerce in the Red Sea and across the globe.

Also Wednesday at 10:00 a.m., the CSIS Australia Chair welcomes Australian Deputy Prime Minister and Minister for Defence Richard Marles for a conversation on the U.S.-Australia relationship.

Video

Last week, the CSIS Bipartisan Alliance for Global Health Security hosted a discussion on the lessons and gains of the past year since the Biden administration approved over-the-counter sale of naloxone, the drug that reverses life-threatening opioid overdoses. Watch the full video here.

Podcasts

Image

Frank McCourt, chairman of McCourt Global and founder of Project Liberty, joins the podcast to discuss his new book, Our Biggest Fight: Reclaiming Liberty, Humanity, and Dignity in the Digital Age, as well as Project Liberty's mission and the evolution of the internet.

Listen on Spotify & Apple Podcasts.

Smiles

I watched a cool documentary on a flight the other day called "Enormous: The Gorge Story." The film chronicles the history of the famous live music venue "The Gorge Amphitheatre." The Gorge evolved from early beginnings as a winery in rural Washington state into an internationally renowned place to see a concert. Some of the artists and performances highlighted in The Gorge Story are stunning. Whether it's Pearl Jam igniting the stage in 1993 or Dave Matthews epic three-day shows, the film delivers a vibe that is unquestionably exciting if you love music.

The filmmakers also captured artists off-stage and just enjoying their craft amid the natural beauty of the place. Here's one of my favorites featuring Mumford and Sons with Elvis Costello.