Commentary

The military governments of Burkina Faso, Mali and Niger have signed a “confederation treaty”, raising concerns about the Alliance’s separation from the rest of the West African bloc. The new developments complicated an already difficult situation in the region.

The UK is facing its worst riots in 13 years, as a wave of violent anti-immigration protests sweep across the country. The uprisings began after the spread of misinformation online. Gaps in regulation have made social media a fertile ground for bad actors to spread fake news and incite hatred.

Japanese Prime Minister Kishida Fumio is paying a four-day trip to Central Asian countries from August 9 to 12, with many proposals for enhancing regional cooperation and development.

Bangladesh's President Shahabuddin has dissolved parliament and appointed the head of the interim government after Prime Minister Sheikh Hasina resigned and left the country. Bangladesh is experiencing a severe crisis stemming from economic and social tensions. The international community is urging parties in Bangladesh to exercise restraint to prevent escalation of violence and quickly lead the South Asian nation out of its current instability.

A US judge’s recent ruling that Google violated antitrust laws by spending tens of billions of US dollars to build an illegal monopoly and become the default search engine globally is considered the first major victory for the federal government against the market dominance of “Big Tech”.

Climate change, conflicts, and economic recession are still the main causes of and an exacerbating force behind food crises in many parts of the world. The United Nations calls on the international community to mobilise resources and efforts to realise the goal of zero hunger.

Around 80 countries have recently reached an agreement on rules governing global digital commerce. Although it still faces challenges ahead, the agreement is expected to open a period of stronger development for the digital trade.

The United Nations Economic Commission for Latin America and the Caribbean (CEPAL) said that foreign direct investment (FDI) decreased by about 9.9% in 2023 compared to 2022.

The UK has just announced that it will restart negotiations on free trade agreements (FTAs), with a series of partners. In the context of Prime Minister Keir Starmer's government's efforts to restore the economy, the FTAs are expected to open the door to new cooperation, thereby boosting exports, attracting investment and solving the problem of high unemployment in the UK.

The US Department of Labor has just released a report saying that the country's unemployment rate in July 2024 jumped to near a three-year high of 4.3% amid a significant slowdown in hiring.

The danger from the COVID-19 pandemic is still latent, threatening people’s health and lives in the context that the immunity provided from the COVID-19 vaccine has decreased. Many other dangerous diseases are also likely to break out when the global vaccination rate slows down, due to inequality in access to health services, vaccine hesitancy, and consequences of economic recession.

The US House Budget Committee has recently announced that the US has reached a new "worrisome milestone", as the national debt exceeds 35 trillion USD. This notably includes 1 trillion USD added since the beginning of this year. In addition to the US, the public debt is ballooning in European powerhouses like France and the UK, raising fears of potential risks to the global economy.

The Bank of Canada (BoC) has decided to cut interest rates for the second consecutive time, as household spending in the country continues to decline. Although Canada is expected to be the fastest growing economy among G7 members and other advanced economies, it continues to face many challenges, as pressures on housing and service prices are pushing inflation higher.

About 20 million Venezuelan voters went to the polls to choose the President who will lead the country for the next six years. Venezuelans expect the next president to lead the South American country through challenges and firmly step forward on the path of development.

In preparation for the 4th International Conference on Financing for Development, United Nations Secretary-General Antonio Guterres called for the reform of the international financial system, which he described as "outdated, dysfunctional and unfair."

The European Political Community (EPC) Summit recently took place in southern England, with the participation of nearly 50 European leaders, providing an opportunity for the UK to affirm its determination to rebuild relations with the EU. Following a period of tension due to Brexit, the new leadership of the UK seeks to improve relations with the EU for mutual benefit and jointly address regional challenges.

Germany's coalition government has just agreed on a draft budget for 2025, ending months-long disagreements over the national spending plan. The new budget plan is expected to help Europe's leading economy enhance competitiveness and maintain recovery speed in the near future.

With about 17.78 million foreign visitors to Japan in the first half of 2024, the highest level ever in a six-month period, Japan is expected to welcome a record number of visitors this year. This is a positive sign when Japanese tourism has recovered quickly after the COVID-19 pandemic, but it also poses many new challenges. The Japanese government is making efforts to solve the problem of overtourism and sustainable development of the smokeless industry.

Iranian voters have chosen reformist candidate Masoud Pezeshkian as their new president. This decision has garnered significant attention both domestically and internationally. In a critical period for the Islamic Republic of Iran, this shift in leadership poses both opportunities and challenges for Tehran in its development process and future direction.

The Colombian government has decided to end the ceasefire with most units of the armed group Estado Mayor Central (EMC), due to this group's terrorist acts targeting soldiers and civilians.

Global childhood immunisation coverage stalled in 2023, leaving millions of children un- and under-vaccinated compared to the pre-COVID-19 pandemic period. The vaccination gaps could lead to outbreaks of diseases for future generations worldwide.

The Republic of Korea is about to enter an era of a super-aged society. Due to simultaneously experiencing rapid aging and a low birth rate compared to other countries, the country is now facing the difficult problem of declining labour productivity, with the economic growth rate slowing down due to diminished labour supply. This is considered a labour 'cliff edge' for which the RoK needs to find urgent response measures.

The months-long conflict with the Islamist movement Hamas in the Gaza Strip has taken a toll on Israel’s economy. Analysts say that if current tensions are not ended soon, the Israeli economy will continue to sink and face the risk of derailing growth.

In the new government's action programme, aimed at leading the country through a difficult period, Egyptian Prime Minister Mostafa Madbouly highlighted the core tasks of economic revival and political stability. The North African nation currently faces numerous challenges due to rising inflation and geopolitical instability in the region, particularly the conflict in the Gaza Strip and tensions in the Red Sea.

After more than half a year of implementing extensive reform measures to cool down three-digit inflation and bring the Argentine economy out of recession, President Javier Milei's administration has achieved some initial results. However, the goal of reviving the South American national economy is still facing many challenges.

Welcoming the first-time participation of new member Bolivia and guest Panama, the enhancement of cooperation with South American countries are reasons why the Summit of the Southern Common Market (MERCOSUR) is expected to decide on the bloc's next expansion steps. However, internal issues stemming from differing viewpoints among member countries have made MERCOSUR focus on finding solutions to immediate challenges.

A recent research paper published in the scientific journal Nature Ecology & Evolution reported that the frequency at which extreme fires are occurring around the world has more than doubled over the past two decades, mainly due to human-caused climate change.

The NATO Summit takes place in Washington, in the US from July 9 to 11. Along with leaders of member countries, representatives of 35 non-NATO countries were also invited to attend the summit.

The second round of the early parliamentary elections in France witnessed a surprising reversal, as the leading political bloc was not the National Rally (RN) and its allies, but the left-wing coalition New Popular Front (NFP). 

Hungary has officially assumed the rotating presidency of the Council of the European Union (EU), for a term that extends until December 31 of this year. With priorities focused on areas that Budapest deems in dire need of significant change, Hungary faces the opportunity to enhance cooperation with fellow member states and international partners, to boost the EU's competitiveness. However, amidst the many EU challenges, Hungary will encounter considerable obstacles during its presidency.