0. Global socio-economic, geo-political developments affecting AEC
Return to July 2020 Update
Length:1 min read; 280 words
Note: The following paragraphs summarize the category of Global socio-economic, geo-political developments affecting AEC (indirectly) observed in July. More information about the specific category from July (and previous months) can be found in the downloaded report(s).The number in square brackets (e.g., [150]) 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 reported slowdown of people, trade and capital in April, has started to accelerate again in some parts of the world as the economies reopen and restrictions ease in June/ July, but the reported issues with the global supply chains, further deepening trade war with China and other socio-economic and geo-political developments (triggered or accelerated by the pandemic) continue to exist.
Corrupt governments around the world are using coronavirus to crackdown on political opposition and curtail human rights (reports from Uganda, Philippines, Hungary) [150].
The US-China “cold” war worsened in July affecting global trade, supply chains, and investments ([151][152][153][154][155][156][157]),; suggesting that China’s post-COVID recovery is for real. Although experts suggest that China doesn't want to conquer, just do business (China is by far the biggest bilateral creditor to Africa, and in many poor countries elsewhere; offered $1 billion loan to Latin America and the Caribbean for access to its Covid-19 vaccine [158]); the US government insists that China is the greatest enemy of the US. [159][160][161][162] [163][164][165] [166] [167][168][169][170]
Hog Kong is in the middle of everything; Britain gives three million Hong Kongers the right to live and work in Britain. [171]. Hong Kong delays legislative election for one year on virus [172] There is a lack of global leadership in pandemic response. [173]
Harsh economic realities push Spain’s government towards the center. [174] The pandemic shuts down a lifeline for Cuba. [175] Indian factories woo back migrant workers with food and air tickets [176]; and Kuwait's new expat bill has Indians worried [177]. Silicon Valley's biggest companies are investing billions in India. [178]
Previous June Category Summary
References
[150] “CNN International | Facebook.” (accessed Aug. 28, 2020).
[159] “China Doesn’t Want to Conquer, Just Do Business,” Bloomberg.com, Jul. 26, 2020.
[160] “Cold-War Risks Are Getting Real. Still Don’t Care?,” Bloomberg.com, Jul. 22, 2020.
[161] “Ray Dalio Warns of U.S.-China ‘Capital War’ That Would Hit Dollar,” Bloomberg.com, Jul. 26, 2020.
[162] “As foreign banks circle, China plots an ‘aircraft-carrier’ defence,” The Economist.
[164] “FBI director: China is ‘greatest threat’ to US,” BBC News, Jul. 08, 2020.
[165] “US tech and film ‘collaborating’ with China - Barr - BBC News.” (accessed Aug. 28, 2020).
[166] “Japan Starts Paying Firms to Cut Reliance on Chinese Factories,” Bloomberg.com, Jul. 18, 2020.
[168] “Tesla Slashes Deposit for China Customers to Just $143,” Bloomberg.com, Jul. 22, 2020.
[169] “China Says It Will Respond ‘Firmly and Rationally’ to U.S.,” Bloomberg.com, Jul. 29, 2020.
[170] “Beijing Slams Forced U.S. Entry to China’s Houston Consulate,” Bloomberg.com, Jul. 24, 2020.
[172] “Hong Kong Delays Legislative Election for One Year on Virus,” Bloomberg.com, Jul. 31, 2020.
[173] “Who runs the world?,” The Economist.
[174] “Harsh economic realities push Spain’s government towards the centre,” The Economist.
[175] “The pandemic shuts down a lifeline for Cuba,” The Economist.