The Intelligence from The Economist The Intelligence: America gets a House speaker
Oct 26, 2023
Adam O'Neill, Washington correspondent, unpacks the chaotic political climate in the U.S. House after Mike Johnson’s election as Speaker, sharing insights on bipartisan cooperation and its impact on national security. Meanwhile, Don Wineland, editor on China’s business and finance, addresses the alarming financial crisis in China's banking sector, highlighting hidden bad loans and the challenges stemming from the pandemic. They also humorously touch on the trend of excessively long films, questioning how this influences audience experience.
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House Speaker Struggle
- The House of Representatives was paralyzed for weeks as Republicans struggled to choose a Speaker.
- The numerous failed candidates revealed internal divisions within the party.
Failed Speaker Candidates
- The House Speaker selection process saw several candidates rise and fall.
- Kevin McCarthy dropped out, followed by Steve Scalise, Jim Jordan, and Tom Emmer.
Republican Divisions
- The prolonged speaker selection exposed deep divisions within the Republican Party.
- A contingent of Republicans prioritizes disruption over legislative progress, making compromise difficult.