Promising a “new social contract", US president-elect Joe Biden has outlined several core policies which, if implemented, would mark a radical departure from President Donald Trump.
Three issues have been front and centre: racial inequality, climate change and Covid-19.
In June, Mr Biden promised “an era of action to reverse systemic racism", as America grappled with some of the worst social tensions for decades.
In some ways, these policy pillars are holistic: Mr Biden has promised “an economy more vibrant and more powerful precisely because everybody will be included in the deal”.
Tax incentives will be revised in so-called "opportunity zones", economically distressed areas where the government has attempted to spur economic investment, and a $30 billion small business fund will be established for these areas.
Community policing programmes will also receive $300 million in funding, in the hope that trust can be restored in some of the country’s most divided neighbourhoods.
But there is much more – if Mr Biden can get potential legislation past what is likely to be a Republican-dominated Senate.
Let’s take a look at the core policies Mr Biden and Kamala Harris, the vice-president elect, have lined up:
Research and development
Mr Trump promised to revitalise American power, but critics said he was slow to authorise spending on scientific research and development.
Without this investment, some feared there would be no repeat of the “American century”, defined by technological milestones such as the moon landing and nuclear power.
This would leave the US vulnerable to gains by the Chinese tech industry, notably in artificial intelligence, as well as military developments such as hypersonic flight – weapons and aircraft that travel over five times the speed of sound.
The Association of American Universities warned earlier this year that China is about to overtake the US in spending on scientific research.
Mr Trump responded to these concerns, earmarking $142.2bn in the administration’s proposed 2021 budget to prioritise the “industries of the future” including AI and quantum information science.
The latter has a number of applications, including the construction of supercomputers.
Mr Biden has pledged to go further, allocating $300bn over four years to scientific research and creating a separate fund for clean energy research, totalling $400bn.
Environment
Until recently, Mr Biden’s colleagues in the Democratic party have not shied away from discussing the cost of making the US carbon neutral.
In June last year, Democratic Congresswoman Alexandria Ocasio-Cortez remarked that a green economic development plan, the Green New Deal, would cost $10 trillion.
“People are going to call it unrealistic, and I just don't think people understand how bad the problem is,” she remarked at the time.
Mr Biden has referred to this plan – which critics say is prohibitively expensive and lacks detail – as a useful framework, but nonetheless plans to spend $1.7 trillion on a raft of climate-focused measures over 10 years.
That figure bears repeating: the entire global investment in renewable energy for 2019, according to the International Energy Agency, was $330bn.
Focus will also be international – Mr Biden has pledged to rejoin the Paris Climate Accords, but domestically policy will focus on incentivising investment in renewables and electric vehicles, while deterring environmental destruction.
Legislation passed by Mr Trump to ease restrictions on the US oil industry will likely be overturned.
For electric vehicles, Mr Biden has pledged to roll out 500,000 electric charging stations across the US in the coming years, also offering tax rebates on electric vehicle purchases.
In the power sector, Mr Biden has pledged to eliminate carbon emissions by 2035 – so we can expect a huge push for solar energy.
Coronavirus and the economy
These issues have strong crossover since the virus has wiped out 20 million jobs and threatens to destroy at least $16tn in economic value in the coming years, according to a report by former US Treasury secretary Lawrence Summers.
But Democrats and Republicans have been at odds over the size and format of a second stimulus package, with House Speaker Nancy Pelosi pushing for $2.2 trillion and the Republicans preferring a smaller package of $1.8 trillion, having initially pressed for a much smaller $500bn relief package.
As the Covid-19 pandemic took hold in the spring, the Coronavirus Aid, Relief and Economic Security Act (CARE) was passed, allowing the distribution of 160 million cheques and cash payments to struggling individuals, between $1,200 and $2,400 for married couples.
Failure to agree on a package before the end of this year could delay stimulus cheques to millions of Americans and struggling sectors such as the airline industry, worsening an already fragile economic outlook.
Because of the crisis, Mr Biden has pledged to tackle the virus head on, not only through his task force of health experts to guide government policy, but through ensuring enough resources are directed at the problem.
The president-elect has promised to allocate $25bn for vaccine programmes alone. Whether these measures can be agreed upon in Congress or not, one thing is clear: Covid-19 has put the American economy on the brink, and Mr Biden will be in a race against time to strike a compromise.
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Coronavirus around the world
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
SHADOWS%20AND%20LIGHT%3A%20THE%20EXTRAORDINARY%20LIFE%20OF%20JAMES%20MCBEY
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More on Quran memorisation:
Honeymoonish
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THE%20SPECS
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The years Ramadan fell in May
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
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The years Ramadan fell in May
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
KILLING OF QASSEM SULEIMANI
More from Neighbourhood Watch:
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
PAKISTAN SQUAD
Abid Ali, Fakhar Zaman, Imam-ul-Haq, Shan Masood, Azhar Ali (test captain), Babar Azam (T20 captain), Asad Shafiq, Fawad Alam, Haider Ali, Iftikhar Ahmad, Khushdil Shah, Mohammad Hafeez, Shoaib Malik, Mohammad Rizwan (wicketkeeper), Sarfaraz Ahmed (wicketkeeper), Faheem Ashraf, Haris Rauf, Imran Khan, Mohammad Abbas, Mohammad Hasnain, Naseem Shah, Shaheen Afridi, Sohail Khan, Usman Shinwari, Wahab Riaz, Imad Wasim, Kashif Bhatti, Shadab Khan and Yasir Shah.
Killing of Qassem Suleimani
The five pillars of Islam
More from Neighbourhood Watch:
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
UAE currency: the story behind the money in your pockets
At a glance - Zayed Sustainability Prize 2020
Launched: 2008
Categories: Health, energy, water, food, global high schools
Prize: Dh2.2 million (Dh360,000 for global high schools category)
Winners’ announcement: Monday, January 13
Impact in numbers
335 million people positively impacted by projects
430,000 jobs created
10 million people given access to clean and affordable drinking water
50 million homes powered by renewable energy
6.5 billion litres of water saved
26 million school children given solar lighting
Mohammed bin Zayed Majlis
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
UAE currency: the story behind the money in your pockets
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
HAJJAN
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