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National flags at the World Economic Forum in Davos. Photo: Dursun Aydemir / Anadolu Agency / Getty Images

The talk of Davos, ahead of President Trump's Friday speech, from Bloomberg's Matt Campbell:

"As much as they’re exuberant about soaring equities and booming economies, many global executives ... are counting the risks that could bring the party to an end."
  • "Stocks rose worldwide [yesterday] even as Trump slapped tariffs on solar panels and washing machines that some warn is a harbinger of a wave of protectionism."
  • "The International Monetary Fund this week predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts encourage businesses to invest."
  • But the IMF warned governments to be on guard for the next recession.

Martin Wolf, Financial Times chief economics commentator, has a dour reality check, "The liberal international order is sick" (subscription):

  • "Among global changes, the most important are the declining relevance of the west as a security community after the end of the cold war, together with its diminishing economic weight, especially in relation to China."
  • Why it matters: "The liberal international order is crumbling, in part because it does not satisfy the people of our societies."
  • "Those who attend Davos need to recognize that. If they do not like Mr. Trump’s answers ... they need to advance better ones."

And Axios' Mike Allen and Jonathan Swan told you yesterday about French President Emmanuel Macron's role in luring President Trump to Davos. The unlikely buddy picture continued yesterday:

  • The White House said Macron will be the guest of honor for Trump's first state dinner, expected in April.

Go deeper

Vaccinations, relief timing dominate Sweet 16 call

Sen. Joe Manchin (D-W.V.) speaks during a news conference in December with a group of bipartisan lawmakers. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Vaccine distribution, pandemic data and a cross-party comity dominated today's virtual meeting between White House officials and a bipartisan group of 16 senators, Senator Angus King told Axios.

Why it matters: Given Democrats' razor-thin majority in both chambers of Congress, President Biden will have to rely heavily on this group of centrist lawmakers — dubbed the "Sweet 16" — to pass any substantial legislation.

Progressives pressure Schumer to end filibuster

Senate Majority Leader Chuck Schumer. Photo: Win McNamee / Getty Images

A progressive coalition is pressuring Chuck Schumer on his home turf by running a digital billboard in Times Square urging the new majority leader to end the Senate filibuster.

Why it matters: Schumer is up for re-election in 2o22 and could face a challenger, and he's also spearheading his party's broader effort to hold onto its narrow congressional majorities.

4 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

You’ve caught up. Now what?

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