This is the weekend edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion publishes each week based on web readership. The mutiny by Wagner PMC, the mercenary army founded by St. Petersburg caterer Yevgeny Prigozhin, hardly comes as a surprise after months of mockery and derision directed at military leaders in Moscow. But in its timing — in the midst of a Ukrainian counteroffensive — this apparent reenactment of Benito Mussolini's 1922 March on Rome could foreshadow Russia's defeat in its war of choice. Photographer: Gavriil Grigorov/AFP via Getty Images Regular units have been fighting off the Ukrainian counteroffensive without Wagner's help and have suffered no major defeats so far. Without an active role in the conflict, Prigozhin's private army was getting expensive to maintain and useless as a moneymaker — its primary function for Prigozhin, who founded it to fight for resource concessions in Africa and the Middle East. Rather than shrink into the shadows, the restaurateur-turned-field commander went all in. Putin's authority has been undermined by the shoddy conduct of the Ukraine invasion, but he is no Luigi Facta, the Italian prime minister who was powerless to stop Mussolini from seizing power, nor is he King Victor Emmanuel III, who allowed the fascist leader to take over.
Read the whole thing. Silicon Valley Is On Drugs — Matt Levine Retailers Aren't Abandoning Downtowns Because of Crime — Leticia Miranda Russia's Uprising Is a Serious Threat to China as Well — Hal Brands Zambia's Debt Deal With China Is a Landmark Moment — Matthew Brooker Saudis Are Tightening the Screws on US Oil Shipments — Javier Blas Putin's Biggest Mistakes in the Wagner Uprising — Andreas Kluth The Great US Treasury Bond Rout Is Far From Over — Bill Dudley Bigger Salaries Aren't Enough to Solve the US Education Crisis — Bloomberg's editorial board The Russian Mutiny Through a Chinese Lens — Howard Chua-Eoan Here's what we've been listening to this week. |
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