published Feb 20, 2018, 5:00:34 AM, by Kathleen Hunter
(Bloomberg) —

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Geopolitical jockeying for a chance to build two nuclear reactors in Saudi Arabia highlights a potential new arena for superpower rivalry.

U.S. allies South Korea and France are among the contenders, as are China and Russia. As Ethan Bronner and Jennifer A. Dlouhy report, the U.S. joined the race after Energy Secretary Rick Perry buttonholed Saudi delegates at a meeting in Vienna last September.

The U.S. is undoubtedly the main strategic partner for the Saudis as they seek the expertise to move beyond oil and compete with arch-rival Iran. But the kingdom also has ties with the other two giants — and reasons to keep them sweet.

For President Donald Trump’s administration, it’s an opportunity to revive a moribund nuclear industry that shouldn’t be missed. Others question whether it’s worth the risks of spreading a technology that carries an overlap with nuclear weapons development in the world’s most volatile region.

“You’ve got Israel with nuclear weapons,” says Victor Gilinsky, a former member of the Nuclear Regulatory Commission. “Turkey isn’t far behind. Iran has a nuclear program. Now they’re going to unleash Saudi Arabia? What are we creating here?”

Global Headlines

Secret Brexit weapon | Theresa May has a plan up her sleeve if the U.K. doesn’t get the trade deal it wants from the European Union. Tim Ross exclusively spoke to senior officials who say the prime minister is prepared to hold back billions of pounds in Brexit payments if Brussels tries to renege on a future commitment to a free-trade deal. The EU side won’t like the sound of this. For them the bill is for liabilities the U.K. has already accrued and cannot be opened up for debate.

Merkel’s nemesis | Germany’s Social Democrats begin balloting members today on whether to enter a coalition with Chancellor Angela Merkel. Leading the charge against her is a 28-year-old activist called Kevin who argues another tie-up would hasten the party’s demise. With the far-right AfD overtaking the SPD in one poll, the stakes are high on both sides. While March 4 results will probably confirm a deal, the SPD is volatile and the vote unpredictable.

Setting aside differences | He criticized Trump early and often — calling him a “phony” and a “fraud” in March 2016 — but former Republican presidential nominee Mitt Romney has now accepted the president’s endorsement for a U.S. Senate seat in Utah. Trump’s support could help contain anti-establishment forces in the heavily Republican-leaning state as the party fights to preserve its narrow Senate majority in the November midterms.

Iran inequalities | President Hassan Rouhani had a clear vision for spurring growth and employment in his nation of 80 million. But threats by the Trump administration have dried up foreign investment, and following nationwide anti-government protests he may have to abandon plans to open up the economy and cut subsidies and cash handouts. Ladane Nasseri spoke to a high school teacher who counts himself among Iran’s “forgotten.”

Going gray gracefully | Developed economies struggling with aging populations might look to Southeast Asia’s “Little Red Dot” for inspiration. Singapore’s 2018 budget offers a balance of tax hikes, deductions, bonuses, targeted programs and innovative financial policies to realign spending in the graying city-state of 5.6 million, Michelle Jamrisko and Myungshin Cho report. While the model may be hard to follow for larger states with stronger political opposition, it provides one possible solution to a global problem.

And finally… Want to place a bet on Burlesque? That’s the code-name for ex-premier Silvio Berlusconi in a fictitious horse race that two bloggers have hit on to dodge a ban on publishing polls in the two weeks before Italy’s March 4 election. Luigi Di Maio, leader of the populist Five Star Movement, is a jockey called Louis le Subjonctif, because he often gets the subjunctive tense wrong.