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Political Risk
President Joe Biden's Approval Remains Underwater
The approval rating of US President Joe Biden remains at near record lows following a sharp reversal of a recent upward trend, according to three key approval trackers.
- Five Thirty Eight: 41.1% Approve, 53.4% Disapprove
- Real Clear Politics: 41.1% Approve, 54.1% Disapprove
- Morning Consult: 41.0% Approve, 51.0% Disapprove
- Presented below is the FiveThirtyEight presidential approval comparison tracker. The chart shows that Biden's approval (grey line) has stabilised at similar lows experienced by former President Donald Trump (green line) during the majority of Trump's tenure in the White House.
Figure 1: President Joe Biden and former President Donald Trump approval comparison (FiveThirtyEight)
Support For New Chilean Constitution Increases
A recent Candem poll has shown that support for the new Chilean constitution has increased since the draft constitutional proposal was published this week.
- There were fears that the new constitution would usher in radical changes in the central bank and strict regulation of the mining sector. These concerns didn't materialise; central bank independence is enshrined in the new constitutional proposal, and mining is still subject to the same concession system.
- Members of the convention have just over three months to sell the new charter to voters before it is put to a referendum on September 4.
- Early signs suggest that the negative popular opinion of the Convention may be turning around. The previous batch of polling from Cadem released May 10 showed that only 42% of voters would approve the new constitution. This has risen to 45.5% since publication of the proposal.
Figure 1: With the information you have at this time, would you vote to Approve or Reject the Constitution proposed by the Constitutional Convention? (Cadem )
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