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Spotted yesterday in Times Square. Photo: Noam Galai/Getty Images

The Biden presidency may revitalize an alliance of interests and values with other "advanced high-income democracies" around the world, writes Martin Wolf, Financial Times chief economics commentator.

Why it matters: Reconstructing America's relationships with global allies could smooth over the last four years of foreign policy under President Trump. President-elect Joe Biden has already received congratulations from a number of world leaders and spoken on the phone with some about working together.

  • "I expect it will put the Russian president and his ideological acolytes in central and eastern Europe back in a box marked 'hostile,'" Wolf writes.
  • "I expect, too, that Mr. Biden will make an effort to create an engaged, yet demanding, relationship with China ... Somehow, the US and China must learn how to confront, compete and co-operate, at the same time."

Go deeper

13 hours ago - World

NZ's Jacinda Ardern becomes the latest world leader to congratulate Biden

Combination images of New Zealand Prime Minister Jacinda Ardern and President-elect Joe Biden. Photo: NZ Prime Minister's Office/Instagram/Joe Raedle/Getty Images

New Zealand Prime Minister Jacinda Ardern has become the latest world leader to congratulate President-elect Joe Biden in a phone call, but Russian President Vladimir Putin is still refusing to acknowledge the U.S. election win.

Driving the news: Biden's transition team said in a statement late Sunday he "expressed his intent to strengthen the U.S.-New Zealand partnership" and looked forward to working closely on challenges including containing COVID-19, tackling climate change and "reinforcing multilateralism."

Updated 14 hours ago - Politics & Policy

Biden to name Antony Blinken as secretary of state

Anthony Blinken, then deputy secretary of state speaks at a 2016 summit 2016 in New York City. Photo: Bryan Bedder/Getty Images for Concordia Summit

President-elect Joe Biden will name as secretary of state his longtime adviser Antony Blinken, who has held diplomatic and national security jobs since the Clinton administration, a Biden adviser confirmed to Axios on Sunday.

Our thought bubble: By nominating Blinken, who has worked closely with Biden over the past two decades, Biden may return more authority to and work to rebuild the ranks and morale inside the diplomatic corps after President Trump moved to diminish its reach and centralize decision making inside the White House.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

New deals in the COVID economy

Illustration: Sarah Grillo/Axios

COVID-19 is the macro horror of our lifetimes, and has destroyed or severely damaged countless businesses. But, like with most horribles, it also has created some opportunities.

Driving the news: Merck this morning announced an agreement to buy OncoImmune, a Maryland-based biotech that showed promising late-stage clinical results for a therapy that treats severe and critical coronavirus cases.