Want to receive this post in your inbox every morning? Sign up for the Balance of Power newsletter, and follow Bloomberg Politics on  Twitter and Facebook for more. Whether 2018 is a success or failure for Republicans may come down to this week. After a series of fits, starts and last-minute horse trading, U.S. lawmakers are poised to send tax-cut legislation to President Donald Trump as soon as Wednesday to cement a policy that could make or break Republicans’ efforts to preserve their congressional majorities in next year’s midterms. One thing to watch is whether a last-minute provision to provide a multimillion-dollar windfall to real-estate investors such as Trump himself blunts momentum. If not, lawmakers will quickly turn to efforts to avoid a government shutdown when funding expires Friday, a task already fraught with partisan wrangling. Parallels to the end of President Barack Obama’s first year are stark: a frenzy of activity that culminated a key Christmas Eve vote in favor of what would eventually be known as Obamacare. But — as Democrats learned in 2010 when they lost their House majority — just delivering on a campaign promise isn’t enough. With half of registered voters saying they’d prefer a Democratic Congress, the events of eight years ago are a cautionary tale. Global Headlines  Trump doctrine | The president will declare China a “strategic competitor” in a speech today laying out a national security strategy heavily influenced by his views that the U.S. is on the losing end of many of its trade ties. Although the language appears softer than National Security Adviser H.R. McMaster’s accusation that Beijing is engaged in “economic aggression,” it will still signal a shift from the more conciliatory approach Trump has taken with Chinese President Xi Jinping. You’re (not) fired | Trump said yesterday he has no plans to dismiss Special Counsel Robert Mueller, despite calls from some Republicans. The president’s ramped-up public criticism of the Russian election-meddling probe prompted members of his party to warn that firing Mueller would be a mistake. His comments follow claims from an attorney with the Trump transition team that tens of thousands of emails were unlawfully turned over to Mueller’s investigators. Austria turns right | Thirty-one-year-old conservative Sebastian Kurz was sworn in as chancellor in Vienna today after clinching a deal with the euro-skeptic Freedom Party. While their coalition program was designed to allay fears of a direct challenge to the European Union, the new administration has signaled hostility to plans for closer integration — and will take the EU presidency in the second half of 2019. As does Chile| In Latin America, the latest shift to the right after Argentina, Brazil and Peru came when billionaire businessman Sebastian Pinera, 68, won the presidency of Latin America’s richest country for the second time in eight years. As Philip Sanders and Javiera Quiroga report, his win is a victory for those who believe in growth first — and equality second. Modi fends off challenge | Indian Prime Minister Narendra Modi was set to defeat a resurgent opposition in his home state of Gujarat, in a sign of resilient public support for his contentious economic overhaul. While the result pleased investors, the strongest showing in more than two decades by the opposition Congress Party could steer Modi toward more populist policies ahead of national elections in 2019. And finally… It’s a mad, mad world. In the latest edition of The Pessimist’s Guide we take you on a wild ride to a future where Trump is re-elected, Jeremy Corbyn presides over the Great Socialist Republic, North Korea lands a missile 20 miles off the U.S. West Coast and much much more. Ours is not just an exercise of the imagination. These scenarios explore the impact of disruptive forces at play, from fake news to cryptocurrencies, and what investors can do to prepare.