Monday, July 29, 2024

Is the Harris polling bump real?

Experts say it's too soon to tell

It's understandable if all the shakeups in the past month of presidential politics have left you feeling unsettled. As Businessweek national correspondent Joshua Green writes today, don't grasp at the polls yet for any feeling of certainty about how the race has changed. Plus: The dirty, dangerous job of dismantling a ship on the beach. If this email was forwarded to you, click here to sign up.

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The bet Democratic Party leaders and donors made by pushing Joe Biden out of the 2024 presidential race was that Kamala Harris would be a better candidate to face off against Republican nominee Donald Trump. Early polling suggests this wager is paying off: Harris is outperforming Biden in snapshot surveys taken in the days since she replaced him, even leading Trump in a couple of them.

In Washington, the question strategists in both parties have is whether Harris' bump is realand if so, whether it will last.

Anyone who's watched cable news or listened to a political podcast lately has been inundated with confident-sounding takes about how the race has changed and Zapruder-like breakdowns of flash polls purporting to show how Americans are greeting the news that Democrats have a new presumptive nominee.

The professionals running those polls, however, urge patience: We won't have a solid picture of the post-Biden American political landscape for at least a few more days.

Drew Linzer runs the data analytics firm Civiqs and, like many other people, had an inkling a couple of weeks ago that Harris was likely to replace Biden. Because Civiqs runs a daily tracking poll, Linzer started measuring a Harris-Trump race two weeks before Biden bowed out and had some of the earliest data about how Harris was faring.

"In our results, the issue with Biden was always that an unusually large percent of people we'd expect to be Biden voters said they were unsure or voting for someone else—a tendency highest among young and independent voters," Linzer says. "The big difference between Biden and Harris is that those people said they would vote for Harris."

Harris at her Pittsfield, Massachusetts, fundraiser on Saturday. Photographer: Stephanie Scarbrough/AFP

In the Civiqs tracking poll last week, Trump went from leading Biden 46% to 44% to losing to Harris, 48% to 46%. A July 23 Reuters/Ipsos poll mirrored that finding, with Harris leading Trump 44% to 42%. Late last week, the Wall Street Journal showed Harris and Trump effectively tied, something AtlasIntel also found. Notably, Republican pollsters also seem to see a Harris bump. On Tuesday, Trump's pollster, Tony Fabrizio, sent campaign reporters a memo designed to frame coverage of the presidential race. Fabrizio said he expected to see a "Harris Honeymoon" over the next few weeks because of Harris' "largely positive" coverage in the mainstream media. "We will start to see public polling—particularly national public polls—where Harris is gaining on or even leading President Trump," he said. But he insisted that the fundamentals of the race hadn't changed.

Fabrizio didn't share any of the Trump campaign's internal polls. But he wouldn't rush out a nothing-to-see-here-folks memo unless he was seeing the same thing Linzer is. That's hardly surprising, given the outpouring of relief, excitement and money with which discouraged Democrats have responded to Harris' ascension.

But Fabrizio may still be correct that the race will eventually settle back into the narrow Trump lead that was fairly consistent in public and private polling until Biden's faltering debate performance on June 27.

"Clearly, this has energized Democratic voters," Linzer says. "But nothing like this has happened before, so we're really only looking at a snapshot in time."

Traditionally, major political events will give candidates a boost—a convention, a nomination or even choosing a vice president (although Trump appears to have gotten little benefit from adding JD Vance to his ticket). But often that bump proves temporary. For the moment, Harris is riding high and still has several more opportunities to make a big public splash. In the next few weeks, she'll announce her running mate and headline the Democratic National Convention in Chicago.

But Harris' sudden ascension, condensed campaign timeline and the mystery of how she'll manage the presidential spotlight are all variables that make it difficult for pollsters—responsible ones, at least—to state with confidence how she'll fare.

"It's not the answer that my clients and your readers want to hear," Linzer says, "but we just have to watch it play out."

In Brief

ICYMI: Going for Gold

Richard in Ann Arbor, Michigan. Photographer: Kareem Black for Bloomberg Businessweek

The US men's gymnastics team competes for a medal today in Paris. Businessweek recently visited with Frederick Richard, who had the team's top score in the qualifying round, to discuss his athletic and social media pursuits: The World's Most Online Male Gymnast Prepares for the Paris Olympics

Inside the Deadly Job of Dismantling a Ship

A shipbreaking yard in Gadani, Pakistan. Photographer: Nida Mehboob for Bloomberg Businessweek

In March 1998 the 43,000-ton Oak Wave slid down a dry dock in Japan. Over the next 25 years, the $30 million bulk carrier, designed to haul grain and other commodities, called at ports across Asia and the Arabian Peninsula, ran through five owners and three names, and changed its flag twice. Then, last November, just after being sold for $5.9 million, the Catherine Bright (as it was rechristened in 2018) set sail from Qatar for a destination it had never before visited: Gadani, Pakistan.

The town of about 10,000 is more ship graveyard than port, just a cluttered 10-kilometer (6.2-mile) stretch of oil-sodden beach. It's one of three South Asian shipbreaking yards where dozens of small companies dismantle almost three-quarters of the vessels—hundreds of container ships, oil tankers, vehicle carriers, tugs, cruise liners and even oil and gas platforms—that are broken apart globally each year. All three yards feature relatively deep water right up to the beach, allowing operators to run enormous ships aground, no dock required.

The Baltic and International Maritime Council, a trade group in Denmark that represents shipowners, expects the number of vessels scrapped annually to double in the next decade. Shipping demand is falling as post-Covid supply chain backlogs ease, but costs are rising because of a shortage of containers in China, Houthi attacks in the Red Sea that force detours around Africa, and a drought in Panama that has slowed traffic through the canal. Retiring older vessels can help pad an operator's suddenly flagging bottom line, and decarbonization efforts mean many ships that can't convert to alternative fuels will be scrapped.

That augurs record business at the South Asian beaches, where thousands of workers toil for $2 to $20 a day, doing the dirty and dangerous work of ripping apart vessels. In Alang, India, more than 50 people have died since 2013. In Chattogram, Bangladesh, six workers perished last year in mishaps including falls and an explosion. In 2016 a blast at Gadani took the lives of at least 17. This past January a heavy iron plate fell from the Catherine Bright, killing two young men. "It's like dancing with death every day," says Sher Alam, a 43-year-old worker who lives with two colleagues on the Gadani beach in a shack made of wood stripped from old ships. "But what choice do we have? This is all we know."

A global treaty aims to clean up shipbreaking. But, as Paul Tullis and Zia Ur Rehman write, critics say it's not enough: 'Dancing With Death': What It's Like to Dismantle a Ship

Devastating Cost of War

$4 trillion
That's how much Bloomberg Economics estimates a full-scale conflict on the Korean Peninsula would cost the global economy in the first year, in addition to the millions killed. See a visual analysis of what's at stake in South Korea.

A Wild 32 Hours Ahead

"This week will be more interesting. And maybe more tiring."
Wong Kok Hoong
Head of institutional equities sales trading at Maybank Securities Pte. in Singapore
Central bank policymakers in Japan, the US and the UK are set to meet this week, amid uncertainty about rate changes and economic growth.

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