Nothing Gold Can Stay
Monday, February 17th, 2025
World Events — Trump’s Assault on Europe
The Economists
In February 2025, the transatlantic alliance was shaken by a series of events initiated by Donald Trump's administration. First, Defense Secretary Pete Hegseth declared that America was no longer the "primary guarantor" of European security. Then, Trump announced his intention to negotiate with Russia over Ukraine's future, bypassing both Ukraine and European allies. Adding to the turmoil, Vice-President J.D. Vance launched a sharp critique of Europe at the Munich Security Conference, seemingly endorsing the hard-right Alternative for Germany (AfD) party. These actions led many European leaders to question America's commitment to their security. Trump's team proposed significant concessions to Russia, including potential recognition of Russian-occupied territories in Ukraine and limitations on the Ukrainian military. Keith Kellogg, Trump's envoy for Ukraine, stated that Europe would not have a seat at the negotiating table, while Steve Witkoff and Secretary of State Marco Rubio engaged in talks with Russia in Saudi Arabia, where Russia presented demands including Ukrainian neutrality and territorial concessions. Scott Bessent, the treasury secretary, demanded Ukraine hand over rights to an estimated $500 billion in critical minerals as payment for past aid, a demand Ukraine refused. Despite the chaos and fears of a divided Europe reminiscent of Yalta, some European leaders believe they can still influence Trump's policies, emphasizing the mutual need for American and European cooperation in addressing the conflict, ensuring regional security, and preventing a "quick and dirty deal" that could ultimately fail.
Tech — Chinese Investors are Starting to Believe Xi’s Tech Crackdown Is Finally Over
Bloomberg
Chinese investors are increasingly optimistic that President Xi Jinping's tech crackdown is over, fueled by his recent meeting with prominent entrepreneurs like Jack Ma (Alibaba), Ren Zhengfei (Huawei), Lei Jun (Xiaomi), and Wang Xing (Meituan). This gathering signals a supportive shift toward the private sector after years of regulatory pressure that began in 2020. Beijing recognizes the need for its tech companies to drive economic growth, combat issues like unemployment and deflation, and compete with the U.S. in advanced technologies like semiconductors and AI. While a return to the free-wheeling past is unlikely, the government will support companies investing in strategically important sectors, ensuring they align with national priorities and contribute to social stability, moving away from areas like video games and online marketplaces towards AI, cloud computing, and advanced semiconductors.
Business — New US Tariff Would Hit Germany Particularly Hard
Bloomberg
Germany faces significant economic challenges due to potential US protectionist measures and trade tariffs, according to Bundesbank President Joachim Nagel. Speaking in Frankfurt on Monday, Nagel warned that Germany's export-focused economy makes it "particularly vulnerable to falling foreign demand". Bundesbank estimates suggest German GDP in 2027 could be almost 1.5 percentage points lower than current projections due to US policy shifts. This comes as Germany has already experienced two consecutive years of economic contraction, with the possibility of a third in 2025. The Bundesbank forecasts minimal growth of 0.2% for 2025, but warns that full implementation of Trump's proposed tariffs on China and others could lead to another GDP decline. Nagel emphasized that protectionism leads to "welfare losses in all affected countries," with Germany likely to be more severely impacted than others.
Health — Canned Tuna Recalled Over Botulism Risk
A widespread recall of canned tuna products has been issued due to a potential botulism risk, affecting major retailers including Trader Joe's, Walmart, and Costco. Tri-Union Seafoods initiated the voluntary recall after discovering a manufacturing defect in the "easy open" pull tab lids of certain products, which could compromise the seal integrity and potentially lead to contamination with Clostridium botulinum. The recall encompasses various brands such as Genova, Van Camp's, H-E-B, and Trader Joe's, distributed across 26 states and Washington, D.C.. Consumers are strongly advised not to consume the recalled tuna, even if it appears normal, and to return it to the retailer for a refund or dispose of it. While no illnesses have been reported, the company and the FDA are urging caution due to the severity of botulism, a rare but potentially fatal form of food poisoning that can cause paralysis and breathing difficulties.
Cooking — One-Skillet Garlicky Salmon
For a quick and healthy weeknight meal, try this one-skillet salmon and broccoli! In just 20 minutes, you can have tender salmon, crisp broccoli, and flavorful bell peppers, all cooked together for minimal cleanup. This recipe is loaded with protein, omega-3 fatty acids, and essential veggies, making it a delicious and nutritious choice you'll want to make again and again.
Eating Well
Song Rec — All The Stars (Kendrick Lamar, SZA)
Poem of the Day — Nothing Gold Can Stay
“Nature’s first green is gold,
Her hardest hue to hold.
Her early leaf’s a flower;
But only so an hour.
Then leaf subsides to leaf.
So Eden sank to grief,
So dawn goes down to day.
Nothing gold can stay.”
Robert Frost