Global Economy News
LAST UPDATE: August 29, 2025
Xi Sharpens Mission for Bloc Built to Rival US-Led World Order
Xi Jinping emphasized building a multipolar world order through blocs like the Shanghai Cooperation Organisation, highlighting alternatives to U.S.-led alliances.
Insight
China is positioning itself as the leader of an alternative order, using multilateral blocs to strengthen ties with Russia, India, and other Global South states.
China looks to strengthen coordination with Brazil, work with BRICS
China’s foreign minister pledged stronger coordination with Brazil and deeper cooperation within BRICS to counter unilateralism and enhance multipolar governance.
Insight
Beijing is doubling down on Brazil as a strategic partner, reinforcing BRICS as a counterweight to Western-led institutions.
China-Africa trade surges as duty-free African products boost markets: MOFCOM
China’s commerce ministry reported a surge in imports of duty-free African products such as avocados, coffee, and cocoa, boosting African exports to Chinese markets.
Insight
This trade surge illustrates how Beijing uses tariff-free access to cement influence in Africa while diversifying Chinese consumer markets.
Singapore, UAE and other small nations to launch trade partnership
A new “Future of Investment and Trade Partnership” (FIT-P) will be launched in late 2025 to promote digital trade and rules-based cooperation among small, open economies.
Insight
Smaller nations are forming coalitions to shape trade rules, reducing dependence on U.S.-China dominated frameworks.
