:root {–wt-primary-color: #2D2DC8;–wt-text-on-primary-color: #FFFFFF;–wt-secondary-color: #F9FAFB;–wt-text-on-secondary-color: #030712;–wt-tertiary-color: #FFFFFF;–wt-text-on-tertiary-color: #222222;–wt-background-color: #FFFFFF;–wt-text-on-background-color: #222222;–wt-subscribe-background-color: #FFFFFF;–wt-text-on-subscribe-background-color: #222222;–wt-header-font: “Roboto”, ui-sans-serif, system-ui, -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto,”Helvetica Neue”, Arial, “Noto Sans”, sans-serif, “Apple Color Emoji”, “Segoe UI Emoji”, “Segoe UI Symbol”, “Noto Color Emoji”;–wt-body-font: “Roboto”, ui-sans-serif, system-ui, -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto, “Helvetica Neue”, Arial, “Noto Sans”, sans-serif, “Apple Color Emoji”, “Segoe UI Emoji”, “Segoe UI Symbol”, “Noto Color Emoji”;–wt-button-font: “Roboto”, ui-sans-serif, system-ui, -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto, “Helvetica Neue”, Arial, “Noto Sans”, sans-serif, “Apple Color Emoji”, “Segoe UI Emoji”, “Segoe UI Symbol”, “Noto Color Emoji”;–wt-border-radius: 8px}.bg-wt-primary { background-color: var(–wt-primary-color); }.text-wt-primary { color: var(–wt-primary-color); }.border-wt-primary { border-color: var(–wt-primary-color); }.bg-wt-text-on-primary { background-color: var(–wt-text-on-primary-color); }.text-wt-text-on-primary { color: var(–wt-text-on-primary-color); }.border-wt-text-on-primary { border-color: var(–wt-text-on-primary-color); }.bg-wt-secondary { background-color: var(–wt-secondary-color); }.text-wt-secondary { color: var(–wt-secondary-color); }.border-wt-secondary { border-color: var(–wt-secondary-color); }.bg-wt-text-on-secondary { background-color: var(–wt-text-on-secondary-color); }.text-wt-text-on-secondary { color: var(–wt-text-on-secondary-color); }.border-wt-text-on-secondary { border-color: var(–wt-text-on-secondary-color); }.bg-wt-tertiary { background-color: var(–wt-tertiary-color); }.text-wt-tertiary { color: var(–wt-tertiary-color); }.border-wt-tertiary { border-color: var(–wt-tertiary-color); }.bg-wt-text-on-tertiary { background-color: var(–wt-text-on-tertiary-color); }.text-wt-text-on-tertiary { color: var(–wt-text-on-tertiary-color); }.border-wt-text-on-tertiary { border-color: var(–wt-text-on-tertiary-color); }.bg-wt-background { background-color: var(–wt-background-color); }.text-wt-background { color: var(–wt-background-color); }.border-wt-background { border-color: var(–wt-background-color); }.bg-wt-text-on-background { background-color: var(–wt-text-on-background-color); }.text-wt-text-on-background { color: var(–wt-text-on-background-color); }.border-wt-text-on-background { border-color: var(–wt-text-on-background-color); }.bg-wt-subscribe-background { background-color: var(–wt-subscribe-background-color); }.text-wt-subscribe-background { color: var(–wt-subscribe-background-color); }.border-wt-subscribe-background { border-color: var(–wt-subscribe-background-color); }.bg-wt-text-on-subscribe-background { background-color: var(–wt-text-on-subscribe-background-color); }.text-wt-text-on-subscribe-background { color: var(–wt-text-on-subscribe-background-color); }.border-wt-text-on-subscribe-background { border-color: var(–wt-text-on-subscribe-background-color); }.rounded-wt { border-radius: var(–wt-border-radius); }.wt-header-font { font-family: var(–wt-header-font); }.wt-body-font { font-family: var(–wt-body-font); }.wt-button-font { font-family: var(–wt-button-font); }input:focus { –tw-ring-color: transparent !important; }li a { word-break: break-word; }@media only screen and (max-width:667px) {.mob-stack {display: block !important;width: 100% !important;}.mob-w-full {width: 100% !important;}}.table-base, .table-c, .table-h { border: 1px solid #C0C0C0; }.table-c { padding:5px; background-color:#F3EEE5; }.table-c p { color: #2D2D2D; font-family:’Helvetica’,Arial,sans-serif !important; overflow-wrap: break-word; }.table-h { padding:5px; background-color:#F3EEE5; }.table-h p { color: #2A2A2A; font-family:’Trebuchet MS’,’Lucida Grande’,Tahoma,sans-serif !important; overflow-wrap: break-word; }

p span[style*=”font-size”] { line-height: 1.6; }
Todayโs newsletter: |
p span[style*=”font-size”] { line-height: 1.6; }
Supported by |
Good morning Intriguer. Thereโve been plenty of diplomats moonlighting as writers (or vice versa). Indiaโs Vikas Swarup, for instance, was serving in London when he wrote his best-selling novel that became the hit film, Slumdog Millionaire. And Americaโs own Michael Punke was serving as ambassador to the WTO when his novel became the Oscar-winning film, The Revenant.
p span[style*=”font-size”] { line-height: 1.6; }
Thereโs also Paraguayโs Esteban Bedoya, who was serving in Canberra when his work shot to global attention. Heโd penned a short story about a popeโs resignation โ something that hadnโt happened in six centuries, until Pope Benedict suddenly did exactly that in 2013, with some startling parallels to Bedoyaโs earlier novella.
p span[style*=”font-size”] { line-height: 1.6; }
Anyway, todayโs briefing focuses on the man who succeeded Benedict: Pope Francis, and his geopolitical legacy.

Number of the day
4
p span[style*=”font-size”] { line-height: 1.6; }
Thatโs how many times the Dow has had a single-day 1,000-point drop since this monthโs US tariff Liberation Day (thereโve only been 11 such days in history)
End of an era

For centuries, popes hardly ventured beyond Rome, with the occasional epic exception like Pius VII, who only left town because Napoleon abducted him! But the jet era โ and a 1929 treaty establishing Vatican statehood โ changed all that.
p span[style*=”font-size”] { line-height: 1.6; }
Enter Pope Francis.
p span[style*=”font-size”] { line-height: 1.6; }
With a 2013 arrival full of pope-firsts (the first Jesuit, the first from the Americas, and the first born outside Europe in 1,200 years), he was always going to make his mark.
p span[style*=”font-size”] { line-height: 1.6; }
But which of his moves might leave the longest tail? Here are three candidates:
-
The pope’s deal with China
p span[style*=”font-size”] { line-height: 1.6; }
One place a pope still hasnโt visited? China. Mao cut ties after he seized power in 1949. But Pope Francis extended a hand, and even voiced broad admiration for China.
p span[style*=”font-size”] { line-height: 1.6; }
And that all culminated in a 2018 deal, still not public, empowering China’s Communist Party (rather than the pope) to keep appointing bishops, while leaving the pope with a final veto. So why’s that controversial?
-
The pope argued it would help unite China’s ~12 million Catholics, long split between Party-controlled churches and those โundergroundโ, thus ensuring the faith’s survival in China while opening up dialogue he could use to shine a light on the Party’s human rights abuses. But… (always a but)
-
His critics say he played into Xi’s hands, ceding a church right (appointing bishops) while turning a blind eye to the Party’s growing crackdown on believers. That’s partly why Hong Kong’s fiery ex-bishop dunked on the deal as naรฏve, and “giving the flock into the mouths of the wolves“.
-
The pope’s take on Russia
p span[style*=”font-size”] { line-height: 1.6; }
You might recall the pope last year urged Ukraine to “have the courage of the white flag” and enter negotiations with Russia. The Vatican later clarified he was just using the language of the interviewer, but critics saw it in the broader context ofโฆ
-
His line about NATO triggering the war by “barking at the gates” of Russia
-
His reference to Russians and Ukrainians as brothers (a Putin line), and
-
What his critics argue has been relative silence on Russian crimes in Ukraine.
p span[style*=”font-size”] { line-height: 1.6; }
Thereโs been endless analysis of whether this all reflects a) his consistent calls for peace (as in Gaza and elsewhere), b) the popeโs own experiences with the US in his native Latin America, c) an attempt to build on his historic 2015 meeting with his Russian counterpart (who’s blessed Putin’s invasion as a holy war), or even d) a shift to align the Vatican’s views more closely with the Global South, home to most of the worldโs Catholics.
-
The pope’s take on social issues
p span[style*=”font-size”] { line-height: 1.6; }
Given the pope borrowed his name from St Francis of Assisi, thereโs no surprise he sought to echo that 12-13th century figureโs focus on issues like poverty. Yet maybe the surprises were in the how, whether through his spicy letter on Trump’s migration policy, or his publishing of a popeโs first-ever encyclical on the environment.
p span[style*=”font-size”] { line-height: 1.6; }
But he still broadly upheld traditional teachings across other issues, which is why one of his biographers memorably summed him up as โa radical, but not a liberalโ.
![]() |
Intrigueโs Take |
p span[style*=”font-size”] { line-height: 1.6; }
Intriguers will know that any geopolitical take on the pope is legally obliged to mention Stalin’s 1953 quote, dismissing French pleas to stop persecuting Catholics due to opposition from the pope: โThe pope! How many divisions has he got?โ
p span[style*=”font-size”] { line-height: 1.6; }
It was a line that went straight to the heart of how Stalin saw power. But of course, itโs incomplete: while historians (and a revivalist Putin) now pick at the carcass of Stalin’s soviet system, the Vatican is still there. As for Francis? History might recall him as the first modern pope to inhabit a multipolar world, responding with a focus on cross-border issues, while approaching authoritarians like Xi and Putin with caution.
p span[style*=”font-size”] { line-height: 1.6; }
So what next? Thatโs up to the 135 cardinals, whoโll eventually elect a successor.
p span[style*=”font-size”] { line-height: 1.6; }
Whoever it is, they’ll enter an even more multipolar world โ and our gut is that’ll make the pope more powerful, not less. History suggests a more multipolar world will see more instability, opening more space for mediation. But also, in a world with more fearful and withdrawn capitals, cross-border ideas will be more potent. And for citizens grappling with more digital decades ahead, that all might (counterintuitively?) place a premium on more traditional sources of influence and power.
p span[style*=”font-size”] { line-height: 1.6; }
Sound even smarter:
-
The Vatican is one of 12 states recognising Taiwan, and the only one in Europe.
-
Among the popeโs various other geopolitical โfirstsโ: he became the first pope to address the US Congress, the first to recognise a State of Palestine, and the first to visit Mongolia, Iraq, South Sudan, and the Arabian Peninsula.
Todayโs newsletter is sponsored by Mode Mobile.
p span[style*=”font-size”] { line-height: 1.6; }
As Elon Musk puts it, โApple used to really bring out products that would blow peopleโs minds.โ Those days are long gone, and a new smartphone company is stepping up to deliver the mind-blowing moments we’ve been missing. Theyโve just been granted the stock ticker $MODE by the Nasdaq, and you can still make an investment in their pre-IPO offering. |
p span[style*=”font-size”] { line-height: 1.6; }
Turning smartphones from an expense into an income stream, Mode has already helped users earn and save an eye-popping $325M+ and seen an astonishing 32,481% revenue growth rate over three years. Uber did it to taxis, Airbnb did it to hotelsโฆAnd now, Mode Mobile is doing it to the $500 billion smartphone industry.
p span[style*=”font-size”] { line-height: 1.6; }
Donโt miss your chance to invest in the next big disruption to smartphones. โฐ Time is running out to invest at $0.26/share – price changes next week.
Meanwhile, elsewhereโฆ

![]() |
p span[style*=”font-size”] { line-height: 1.6; }
ย ๐บ๐ธย NEW YORK โ Stocks fall after Trump renews attacks on Fed chair. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย There arenโt many sacred things on Wall St, but central bank independence is one of them. |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐ท๐บย MOSCOW โ Putin proposes direct talks after violating Easter truce. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย Itโs been 42 days since Ukraine accepted, but Putin dismissed, Trumpโs proposed 30-day ceasefire. Putinโs latest reference to direct talks with Ukraine feels like another attempt to string things along while his attacks continue. |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐ต๐ชย LIMA โ Peru to open global defence fair, Russians eye a deal. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย We were intrigued to see the Russian firm make promises of a regional service centre in Peru. As well as a show of reach, itโs an attempt to counter one of the criticisms of Russian kit (hard to service). |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐น๐ณย TUNIS โ Tunisian court jails opposition leaders on conspiracy charges. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย You might recall the Arab Spring began in Tunisia when mass protests ousted their long-time dictator. But after winning a landslide election as an outsider in 2019, Said now induces a gloomy deja vu for many Tunisians. |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐ง๐ฉย DHAKA โ India, Bangladesh mini trade war continues. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย As the global trading system comes under more strain, thereโll be more side deals where possible, but more side trade-wars, too. |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐ฉ๐ชย BERLINย โย Merz vows to make Germany โeconomically strongerโ. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย Heโs sounding more confident as he approaches his May 6 swearing-in (yes, his last line above is being widely interpreted as a diss at President Trump). |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐จ๐ณย BEIJING โ China, GCC hold first forum on peaceful nuclear cooperation. p span[style*=”font-size”] { line-height: 1.6; } Comment:ย Nuclear powers use access to nuclear tech as a carrot, but this story is reminder how it can work both ways: the Saudis have long listed US nuclear tech as the price to recognise Israel, and signing a nuclear MOU with China (as the Saudis just did) is a simple way to tap the sign again. |
![]() |
p span[style*=”font-size”] { line-height: 1.6; }
๐บ๐ธย WASHINGTON DC โ Is Hegseth on his way out? p span[style*=”font-size”] { line-height: 1.6; } Comment:ย Weโve crunched the numbers and can confirm that Hegseth just reached eight Scaramuccis (each measured as 11 days on the job). |
From our sponsors
p span[style*=”font-size”] { line-height: 1.6; }
The Secret to a Stress-Free Vacation
p span[style*=”font-size”] { line-height: 1.6; }
Want to know the difference between an okay trip and an unforgettable one? Itโs simple: speak the language.
p span[style*=”font-size”] { line-height: 1.6; }
With Babbel, youโll be bargaining at markets, making friends, and finding the best local spotsโall without awkward hand gestures or Google Translate. And with lessons designed by real language experts, youโll start speaking in just three weeks. Save 55% Today.
Extra Intrigue
๐คฃ The worldโs lighter news
-
Tourists in London hoping to glimpse famous Beatles sites are reportedly bummed to see Abbey Road is โjust a roadโ.
-
Fyre Festival 2.0 organisers are now postponing the infamous soireeโs sequel, promising refunds and a new date.
-
A Swiss court is set to decide whether pig racing is a sport.
-
Researchers have found that anti-anxiety medicine ending up in streams has helped local salmon have a better shot at reaching their destination.
-
And a policeman in India has misread court documents, attempting to serve a court summons on his own judge rather than the suspect.
Report of the day
p span[style*=”font-size”] { line-height: 1.6; }
These days, itโs hard to know whatโs coming tomorrow let alone next year. But we like to peer into the future anyway, which is why weโve partnered with Sightline Climate in honour of Earth Day (today) to explore the future of EV batteries, nuclear, and rare earths.
For what itโs Earth (sorry), we think youโll enjoy it.
p span[style*=”font-size”] { line-height: 1.6; }
ย
Your two cents
What do you think will be the main geopolitical legacy of Pope Francis? |
p span[style*=”font-size”] { line-height: 1.6; }
Last Thursdayโs poll: Do you think the US will leave the WTO?
p span[style*=”font-size”] { line-height: 1.6; }
๐ฉ๐ฉ๐ฉ๐ฉ๐ฉ๐ฉย โ Yep, it’s broken, so why stick around (55%)
p span[style*=”font-size”] { line-height: 1.6; }
๐จ๐จ๐จ๐จโฌ๏ธโฌ๏ธ โ Nope, it’s better than nothing (43%)
p span[style*=”font-size”] { line-height: 1.6; }
๐จโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ โ๏ธ Other (write in!) (2%)
Your two cents:
-
โ ย K.P.M: โMost of these international organizations, like NATO and the UN, are irreparably broken and completely useless.โ
-
โย R.J.S: โEventually, the Trump administration will quietly understand the damage of their approach and mitigate continued legacy destruction.โ
-
โ๏ธ S.B: โYes, only to re-join again with the next administration.โ
p span[style*=”font-size”] { line-height: 1.6; }
Disclosure: Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
p span[style*=”font-size”] { line-height: 1.6; }
The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.