This is GPS, the Global Public Square. Welcome to all of you in the United States and around the world.

I'm Farid Zakari, coming to you live from New York.

We'll begin today's show with the world's biggest global companies.

Many of them pay little in taxes, in many of the nations where they do business.

The Biden administration has a plan to change that.

I'm sick and tired. Ordinary people being fleeced.

Some companies say, bring it on, others are upset.

I'll talk to the Deputy Secretary of the Treasury, Wally Adiyemo, about that, about infrastructure, and much more.

Then, can the U.S. and Iran get back to the negotiating table to talk about the nuclear deal?

Well, the first steps in the process actually happened this week in Vienna.

We'll have a debate on whether the U.S. should even re-engage.

Also, the incredibly awkward game of musical chairs in Turkey this week that left one and be male official without a seat.

What that scene says about Turkey's continuing slide away from democracy.

But first, here's my take.

A few months after COVID-19 burst onto the world stage, it seemed clear why some countries were doing well and others poorly.

Places that had strong effective governments, China, Taiwan, Singapore, the UAE, Germany, suffered a few deaths from the virus.

Places with weak leadership and dysfunctional bureaucracies, America, Britain, Italy, Brazil, did poorly.

But now, one year into the pandemic, the situation is somewhat more complicated.

Many European countries that had gotten the virus under control have now seen sharp spikes in cases.

Some countries that were pummeled by the virus have done very well with vaccinations.

How to make sense of these new facts?

Well, it remains true that the single strongest ingredient has successfully handled the pandemic has been strong and effective governmental institutions, particularly in the public health domain.

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