Welcome to you in the United States and around the worl. Im Fareed Zakaria coming to you live from new york. Today a today on the program, the coronation of charles iii. How different will his reign be from that of his mother . We will explore. Also, the curious case of the alleged attack on the kremlin. Chinas power play in the asiapacific and the the american economy. Ill talk about all of that and hor with an allstar panel. Finally, Bernard Henri levi started filming in ukraine just days after the war began. Ill talk to him about his new documentary Slava Ukraine and how he thinks this tragic war will end. But first, here is my take. We now have a Biden Doctrine. The Biden Administration has set it out in a striking recent address by the National Security adviser jake sullivan. Sullivan outlines the administrations International Economic policy but it is really the Overarching Framework Por president bidens approach to the word defining in lucid terms the idea behind the slogan of Foreign Policy for the middle class. Sullivan is a fiercely intelligence thinker and come to done inate policy in the administration. He showcases hes talents and many of the initiatives are are smart and worth pursuing. But it left me worried among threw broad dimensions. First it is a pessimistic view of americas recent history. Sullivan recalls the florry days of American Economic power after 1945 but then notes that in the last few decades, that strength has waned. He talked about the hollowing out of the countrys Industrial Base and athe export of jobs and the at trophying of businesses. We stopped focusing on bans and investments that are the heart of bidens new approach. Only a couple of weeks before the smi speech, the economists had a cover story on americas astonishing economic record. It begins with 1990. Often used as the narrative of decline and points out that despite the rise of new huge economies like china and india, the u. S. Share of global gdp has stayed the same as 1990. About 25 then and now. A share of the economic input increased from 40 to 58 . Today the vast majority of the world Top Ten Companies are american. In 1989, four were american. Six were japanese. As for building, during these decades, america created and built the information economy. Surely one of the greatest transformations and advances in human history. In 1990, the Great Fear In America was of being overtaken by japan. Then seen as the predatory economic power that was eating our lunch. But as the economist notes in the same edition, in 1990, americas income per person was 17 higher than japan. Today it is a staggering 54 higher. Look at demographics or energy or leading technology companies. And everywhere you see america in a dominant position. Perhaps we got something right. The other worry i have is off the efficacy of large scale Government Intervention in the economy. Sullivan outlines the need for federal subsidies in key areas either to maintain the technological lead or for National Security reasons. Brilliant people like sullivan may think they are well positioned to identify the key Strategic Industries that need support. But historically these kind of interventions have not gone so well. Companies focus on lobbying the government rather than responding to the market. Subsidies once in place become eternal. And innovation slows down. In the 1980s and 90s, japan Techno Crates pushed the country into the lead. In the word of a Harvard Review essay, the Strategic Investments in Artificial Intelligence and trains and Micro Machines and hdtv all proved to be multimillion dollars debacles. Finally sullivan insisted these policies wither not designed to be America First or alone. But the facts are clear. Almost every element of joe bidens Economic Policy has a buy america component to it. Its green subsidies are building new plants in america. This sounds great but thought to the europeans who must now offer their own bribes to invest at home instead. It conjures up a vision of the world that is quite far removed from reality. The iphone is made with products from dozens of countries across six continents. Though the vast majority of the profits accrue in the United States. And as the u. S. Preaches the need for a rulesbased international order, it is worth noting that it is violating the core of that order. Every one of these policies is in violation of the letter or spirit of the with wto and its framework of open trade. This hypocrisy is rarely discussed in the u. S. But frequently and angrily pointed out abroad. The greatest challenge for americans over the last few decades has been that middle class wages have not kept up with rising costs of living. That problem will surely get exacerbated by raising costs of goods throughout the economy through tariffs and Industrial Policy. As larry somers points out, protecting the American Steel industry sounds smart but when you do it by raising the price of steel, the 6 million workers who use steel as an input in their goods all suffer. A Foreign Policy that produces persistent, systemic inflation will fail to deliver for the middle class who are, as joe biden often said, its intended beneficiaries. Go to cnn. Com fareed for a link to my Washington Post column this week. And lets get started. The freshly crowned king being kissed on the cheek by the next in line for the throne. That seems like a perfect clip for the future of the British Monarchy and i asked joanna koels to come in and talk to me about that. Shes a journalist and author and you have too many titles. Ard mar eclair and cosmo. How do you this is the longest gap between coronations. It is been 70 years and it is extraordinary to think how the world has changed. When princess elizabeth was crowned in 1952, britain was still a huge dominant global power. And she actually was officially, when she became queen, the Head Of State of 32 different countries. The empires obviously slimmed down countries, seceding faster than you could say their names. And she was in kenya when she learned that her father george vi died and she would become queen and then kenya ten years later declared independent. So britains own role in the world is very different. The coronation at the time, they had 7,000 people in the cathedral, or the abbey, westminster abbey, and they people, you know, who, within the class system in britain, felt utterly entitled to attend and what you saw in king charles is a very different britain. Much more inclusive, a lot of Health Workers turning up after the covid crisis instead of sort of, you know, bearons and others. Hes trying to slim down monarchy and modernize it. If you look at statistics on what part of britain supports the monarchy, what is striking, i think we have a chart there. As you get older, your support grows. Young people, it is at 32 . Old people it is at 78 . Will he succeed in making the monarchy relevant . Well he said he wants to slim it down. What did we see yesterday . An enormous global event. What has happened to britain, not only has it lost its empire and but it has the decision to leave europe. So it is the Little Island on the edge of europe and what it could do is this sort of brilliant creative eventmaking process. You know, you think of morgan and the crown, some of the top shows on the netflix, british written, british directors and actors, you saw Emma Thompson at the coronation yesterday. And they say theyre clislimmint down but theyre promoting brand britain. It is the luxury brand. It is the Creative Industry that britain is really good at and this is the shop window to see them. Charles, as prince of wales, was very outspoken as many much as a royal can be about environment and architecture and sustainable farming. He had views on islam. I thought he was right about what he mostly talked about but you cant do that as king, can you . Well well find out. What is interesting, he was often ahead of his time. A big convener of Climate Change and thinkers. I think youll see a think tank monarchy. Tina brown who has written about the royal family talking about his being a transitional mark and you think about william, what must he be thinking in that moving moment that you shows where he bends to kiss him. But i think charles will be a think tank monarchy. He was told by liz truss who lasted less than a head of lettuce that he couldnt go to court. But what he did do was convene his own Version Of Corp at the weekend which everybody said was much more interesting and thoughtful. So i think he will be able to do this in a thoughtful and entertaining way which keeps the keeps the monarchy relevant but doesnt make it too provocative. We have a minute left, harry. Any thoughts on that. I felt sad for him coming in like that and i wonder what he thought as he came in and slipped away in a black car. An an and he wanted to be back for his sons birthday but what could be more important your father being crowned king. So i hope they resolve it. I was glad he came. I t i think i felt people were happy that he came. And every parent sees that and has an inkling of what is going on. But im glad he came. Always a pleasure. Next, massive shootings and bitterly divided washington. How is the u. S. Perceived by the the west of the world . Well be back in a moment with a global panel. 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Ensure max protein with 30 grams of protein, 1 gram of sugar and nutrients for immune health. There is a ton i want to talk about with todays panel so lets get straight to it. Zanny Minton Beddoes joins us from london and Michael Fullilove is on set with me today in new york. Hes the Executive Director of the institute, an internet think tank based in sydney, australia. 14 time zones away, what does Joe Bidens America look like to you . Look, i think he deserves more credit than he gets. I think hes shaping up as a Foreign Policy president of the first rank. If you think he responded to the russian invasion of ukraine with a matter class in state craft and alliance management, russia looks much weaker now. Nato is larger and stronger. In asia, i would say that he has managed the relationship with china as well as could be imagined. You see u. S. Allies moving toward the United States. You also see around the world connections between democracies quickening, you see democracies reaching out towards each other. And this comes off the back of the trauma of the trump years. So i would say from an ally perspective, biden looks good. Zanny, you did that cover story that i mentioned in my opening take. Do you feel like that sense of americas economic strength is felt around the world and in europe in particular . I think it is. The sense of the strength is felt. But so too is what you brought our in your commentary which is a sense that america has now kind of changed the rules and that the upholder of the rulesbased order is now going along on its own Industrial Policy that is not rulebased. And im listen to the upbeat asesment. I share what he said and after the debacle about afghanistan, there is an enormous success in building alliance. But there are two areas with the Biden Administration and the first is what you spoke about at the beginning of the show. The Industrial Policy that is America FirstIndustrial Policy. It is not focused primarily on the rest of the world. Although increasingly there is an aemt it to bring in alliances, this is a america not open for Market Open Trade deals and that is not lost on the the rest of the world. And one other big thing that i think the u. S. Is falling short on is bringing what people like to bring the global south but bringing the rest of the world with it. It has clearly the Biden Administration has continued a tough on policy, in many ways tougher than president trump. And it has united the Transatlantic Alliance over ukraine. But a lot of the rest does not support ukraine and is very skeptical of what the u. S. Is doing. So be sustainable in the medium and longterm, those two things have to be addressed. What do you think about that . Particularly this issue of the global south. If you saw a article by ashley talis, one of the smartest strategic analysts on asia and he said india is clearly going its own way. It is not becoming a dutiful american ally. It will not side with america in the kind of the the race with regard to china. It needs china for trade just as much as it needs america for some security assurances. Well, there is no question that chinas economy is so large it exerts a tremendous magnetic effect in every country in our region. There is no doubt that india has its own concerns and will chart its own course. But i would say to you that notwithstanding that, everybody inash wants their own place in the sun. No one wants to live in the shadow of china. So most countries want a leading role for the United States. And yes, they have some concerns about american policy from time to time. But i think in general, they see steadiness from the administration, they see the resilience of america and his economy. So that is why i feel positive actually. Zanny, what will all of this loo