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Illustration: Sarah Grillo/Axios

We're getting used to seeing a lot of social breakdown within countries. Chile is only the latest in a long list that includes Hong Kong, Ecuador, Spain, and many countries in the Middle East.

Be smart: What's been less remarked on is that we're seeing social breakdown between countries as well. (Brexit, of course, probably finds itself in both camps.)

The IMF, celebrating its 75th birthday, held its 150th semi-annual meeting this week.

  • It had one main job: Finalize the Fund’s 15th quota review.
  • How it works: Each of the 189 member countries pays a certain amount of money as its quota, and that money is then lent to members in need. The higher your quota, the more you can borrow — and the more voting power you have at the board level.
  • The IMF's board and management were very clear on the importance of increasing quotas by this week's deadline. The review would strengthen the Fund financially, and would also help it better reflect the reality of economic power in the 21st century, with China and India in particular getting a larger say.

Yes, but: The review failed. The 15th quota review is dead. Now the process starts all over again, with hopes that the 16th quinquennial review will do better. The main reason for the failure was "stiff resistance from the United States," per Reuters.

Meanwhile, the EU summit in Brussels this week was also a failure.

  • It had one main job: To decide whether or not to admit North Macedonia and Albania into the union. It failed. Both countries remain in limbo, with no indication of when their fate might be decided.
  • EU leaders also failed to set a long-term budget.

The bottom line: The era of international consensus and cooperation seems to be over.

  • Even last year's much-vaunted capital increase for the World Bank happened only because the Bank persuaded the Americans that it was the last-ever such increase, and that it would never again ask them for more money.
  • No multinational institution is strengthening, and most are weakening. That's going to continue for the foreseeable future.

Go deeper: Capital markets feel the global protest wave

Go deeper

Scoop: Gina Haspel almost resigned over plan to install Kash Patel as CIA deputy

Photo: Win McNamee/Getty Images

CIA Director Gina Haspel almost resigned in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelations stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House Counsel Pat Cipollone — stopped it.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.

NRA declares bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.