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Global News Roundup

July 12, 2024


This Week’s Issue

Mexico’s economic challenges ahead

Mexico’s economic state remains impacted by several external and domestic uncertainties in additi…

Trump’s audacious plan to reverse the early 2000s “China Shock” to the US economy. Trade experts believe that the price of imported manufactured goods would rise significantly if Trump returns to the White House and enacts the aggressive program he has described on the campaign trail. (Axios)

What world leaders thought of Biden’s Nato summit performance. Western leaders have rallied round Joe Biden at the Nato summit, amid concerns about the US president’s age and ability to serve another term. (BBC)

French election: far-right government blocked as Le Pen’s alliance pushed into third place. With 289 seats required for an overall majority, it is likely that Macron will look to make an alliance with the left-wing group to govern as a broad coalition. (The Conversation)

Britain’s new prime minister has a chance to reset ties with the White House. The new U.K. prime minister, Sir Keir Starmer, will have just a couple of days to settle into the job before facing his first test on the global stage. (The Conversation)

France avoided a far-right election win—now the radical far-left is demanding power. After the left wing’s election success in France, all eyes are now on radical firebrand Jean-Luc Mélenchon who has demanded the left be given the premiership. (CNBC)

Iran elects reformist Masoud Pezeshkian in presidential runoff vote. Iran elected Masoud Pezeshkian to its presidency, in an unexpected victory for the country’s reformist camp amid deep social discontent, economic hardship, and regional war. (CNBC)

Hurricanes, extreme heat form insidious combo. With global average temperatures on the increase, along with the likelihood and severity of heat waves, society is increasingly vulnerable to this type of one-two punch of an extreme weather disaster. (Axios)

Israel toughens Gaza ceasefire demands just as optimism for deal growing. Talks were making progress in part because Hamas had softened some of its positions, U.S. and Israeli officials say. But Netanyahu has responded to intelligence suggesting Hamas wants a ceasefire because of its weak military position by toughening his own stance. (Axios)

China hits back at Nato over Russia accusations. China’s foreign minister Wang Yi has hit back at Nato’s “groundless accusations” that Beijing is helping Russia in its war on Ukraine. (BBC)

US inflation cools to slowest pace in a year. Price rises in the U.S. cooled in June, building hopes that the world’s largest economy is moving on from the bout of high inflation that hit after the pandemic. (BBC)

Insurers hike rates as extreme storms like Beryl proliferate, bringing forecasts for fatter profits. Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response. (AP)

How much do presidents ACTUALLY influence the economy? How much credit or blame should a president get for the economy? And how do partisan politics play into our perception of the economy’s performance? (NPR)

Biden says he’s ‘determined on running’ as calls to step aside grow. President Biden, in a roughly one-hour long press conference, doubled down on his decision to stay in the race, despite growing calls and doubts from leaders and supporters that he should step down from the ticket, and won’t be able to beat former president Donald Trump in November. (NPR)

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