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0. Global socio-economic, geo-political developments affecting AEC

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Return to August 2020 update

Length:1 min read;  224 words

Note: The following paragraphs summarize the category of Global socio-economic, geo-political developments affecting AEC (indirectly) observed in August. More information about the specific category from August (and previous months) can be found in the downloaded report(s).The number in square brackets (e.g., [X]) refers to a reference where the reader can find more information about a specific statement.  The references can be found in the References list below, Systematized References page or in the downloaded report.

The economic downturn due to pandemic is unimaginable. Additionally, some reported issues with e.g., the global supply chains are aggravated by other socio-economic and geo-political developments (triggered or accelerated by the pandemic) such as continuing trade war with China. [145][146][147] China’s post-COVID recovery is real [148][149]. Although experts suggest that China doesn't want to conquer, just do business; the US government insists that China is the greatest enemy of the US. [150]

The pandemic is affecting elections around the world - at least 70 countries and territories have rescheduled elections since mid-February; this includes 25 nationwide elections or referendums. Data shows that such suspensions have been carried out across the spectrum, from bona fide democracies to authoritarian states. [151] Democracy finally wins in Guyana and Suriname. [152] The November Election in the US is greatly anticipated globally, e.g., in Europe. [153]

North Korea's leader used his own private food reserve to feed the country, and it could be a worrying sign. [154] Israel and the UAE establish 'full normalization of relations'. [155][156][157] Social justice movement in the US in previous months triggered further protests and violence in the US. [158] Brazil’s president Bolsonaro's erratic behavior is making his military backers nervous [159]. Beirut explosion will worsen Lebanon’s crises. [160][161] Activists pump up Hong Kong media stock 1,000% after its pro-democracy founder was arrested. [162]

For more information please visit the Introduction chapter in the uploaded August report.

Previous July Category Summary

References

[145] “Elite U.S. Schools Face a Rude Awakening With Asian Students Staying Away,” Bloomberg.com, Aug. 27, 2020.

[146] “America musters the world’s biggest naval exercise,” The Economist, Aug. 16, 2020.

[147] “China Brands Trump’s Demands on TikTok Sale a ‘Smash and Grab,’” Bloomberg.com, Aug. 04, 2020.

[148] “Wuhan coronavirus: From silent streets to packed pools,” BBC News, Aug. 18, 2020.

[149] “Wuhan Beat the Virus. Now It’s Shut Itself Off From the World,” Bloomberg.com.

[150] C. N. N. Staff, “China’s Communist Party is a threat to the world, says former elite insider,” CNN. (accessed Oct. 08, 2020).

[151] “The pandemic is affecting elections around the world,” The Economist, Aug. 17, 2020.

[152] “Democracy wins in Guyana and Suriname,” The Economist, Aug. 06, 2020.

[153] “The November Election Could Not Be Bigger — for Europe,” Bloomberg.com, Jul. 25, 2020.

[154] D. Choi, “North Korea’s leader is tapping his own private food reserve to feed the country, and it could be a worrying sign,” Business Insider. (accessed Oct. 08, 2020).

[155] B. K. CNN, “Israel and the UAE establish ‘full normalization of relations,’” CNN. (accessed Oct. 08, 2020).

[156] “Israel and UAE strike historic deal to normalise relations,” BBC News, Aug. 13, 2020.

[157] A. C. CNN Oren Liebermann and Vivian Salama, “First Israeli commercial flight between Israel and UAE takes to the skies,” CNN. (accessed Oct. 08, 2020).

[158] S. M. CNN, “Biden condemns violence in Portland and calls on Trump to do the same,” CNN. (accessed Oct. 08, 2020).

[159] “Bolsonaro’s Erratic Behavior is Making His Military Backers Nervous,” Bloomberg.com, Jul. 31, 2020.

[160] “How the Beirut Explosion Will Worsen Lebanon’s Crises,” Bloomberg.com, Aug. 05, 2020.

[161] “Beirut after the blast: the crunch of glass, acrid smoke and stairs slick with blood,” The Economist, Aug. 05, 2020.

[162] finanzen net GmbH, “Activists pump up Hong Kong media stock 1,000% after its pro-democracy founder was arrested | Markets Insider,” markets.businessinsider.com. (accessed Oct. 08, 2020).