Week in Review Archive

Argentina’s President Javier Milei won in a key midterm election, signaling a larger confidence in his last two years in office. The election, held in the last week of October, strengthens Milei’s ability to carry out his free-market experiment, according to the Associated Press, all with billions of dollars in backing from the United States.

Following their independence from Malaysia in 1965, the island country and city-state of Singapore, or the Republic of Singapore, has evolved into a thriving and dynamic economy. The region’s economic growth is attributed to its reliance on industrial exports of high-quality and competitively priced consumer and IT products. These products have attracted attention from foreign direct investment (FDI) in pharmaceuticals and medical technology products.

China’s Communist Party mapped out their five-year economic goals, with an emphasis on industrialization and achieving technological self-reliance. The Central Committee of the Chinese Community Party, a small group of the party’s elite, continues to prioritize manufacturing and investment, with moves that reflect the increasingly tense relationship with the United States.

Ecuador is regarded to have a strong economy heavily reliant on oil and agricultural exports. However, it is vulnerable to external macroeconomic events. Although Ecuador has made structural and institutional improvements over the years, its’ fiscal imbalances, such as a high reliance on volatile oil revenues, vulnerable financial sector, thin domestic capital market, labor market rigidities and informality has stunted its’ economic growth.

France’s political crisis continues to escalate after the third prime minister in the last year resigned, putting increasing pressure on President Emmanuel Macron to step down after eight years in office. Prime Minister Sébastien Lecornu announced his resignation in early October, after only 26 days in the position.

The nation of Israel is recognized as one of the most advanced economies in the world—a top exporter of oil, diamonds and other precious gems, machinery, electrical equipment, pharmaceuticals, plastics, aircraft and chemicals.

United Arab Emirates’s economy is anticipated to grow by 4.9% in 2025, 0.4% more than initial forecasts predicted, with increased oil production and growth in non-hydrocarbon sector fueling growth.

Earlier this year, Brazil’s economy faced mounting challenges, rising inflation, higher interest rates and a devaluation of currency, all of which threatened to slow gross domestic product (GDP) growth. Despite these headwinds, Brazil’s economy was projected to moderate in 2025, with a forecasted 2.2% growth in GDP, Reuters reports.