Last week, there were both monetary policies and declarations. On one hand, minister Guzmán hinted at the outlines to an arrangement with the IMF in his speech at the IDEA forum.… Read the rest
- The renminbi posted its largest quarterly gain against the US dollar in 12 years, but on a trade-weighted basis, recent renminbi gains are less remarkable.
- The phase one trade deal appears safe for now, and market participants appear unconcerned by US-China tensions on other issues.
Despite the UK’s 15 October deadline for the future relationship talks, PM Boris Johnson’s government remains willing to negotiate with the EU beyond the 15-16 October European Council. Both sides have therefore treated their respective ultimatums in a similar fashion: the EU’s initial insistence that the UK withdraw (parts of) the contentious internal market bill by 30 September was effectively dropped given both sides’ continued interest in talks.… Read the rest
- A lack of direction and internal rifts continue to dog President Alberto Fernandez’s administration.
- The government’s grip in dealing with the twin health and economic crises remains shaky, and pressure for a political reset is unlikely to ease off.
North Korea, at a dawn parade on Saturday, 10 October celebrating the seventy-fifth anniversary of the founding of the Workers’ Party of Korea (WPK), unveiled two new ballistic missiles, highlighting the extent to which Pyongyang has upgraded its arsenal despite the long-range ballistic missile testing freeze introduced after negotiations with the US began in 2018.… Read the rest
Earlier today (13 October), Prime Minister Giuseppe Conte issued a new decree imposing stricter anti-coronavirus restrictions, including bans on private parties and early closures for bars and restaurants. The new measures came after long negotiations with the regions, as some local governors opposed the new curbs.… Read the rest
- The new Regional Comprehensive Economic Partnership trade pact will cover one third of global GDP but is less ambitious on reducing tariffs and non-tariff barriers than the Obama-era Trans-Pacific Partnership.
- Despite perceptions of RCEP as a “China-led” trade deal, the agreement’s impact on the US-China power balance in Asia is modest.