Global Economy News
LAST UPDATE: July 15, 2025
South Africa Aims to Forge G-20 Accord Despite Ongoing US Enmity
Amid continuing tensions with the U.S., South Africa is working to build consensus and drive solidarity, equality, and sustainability agendas during its G‑20 presidency.
Insight
The effort highlights South Africa’s intent to assert global leadership on socio-economic issues despite geopolitical friction, potentially reshaping G‑20 discourse on inclusive development.
China steps in as US pulls back from diplomacy, report says
A new U.S. Senate Foreign Relations Committee report criticizes deep cuts to the State Department and USAID under Trump as reducing global U.S. influence, while China expands diplomatic and aid efforts in regions like Africa, Southeast Asia, and Latin America.
Insight
The report portrays a geopolitical shift: as the U.S. retrenches, China aggressively fills diplomatic and developmental gaps, reshaping global influence and potentially threatening U.S. strategic interests.
China tells EU new climate target coming in autumn
China has informed the EU it will issue a new national climate action plan this autumn, aimed at updating its emissions targets by 2035.
Insight
This signals China’s intent to engage on global climate commitments and may set expectations for emissions reductions, impacting international climate negotiations and EU coordination.
How large are global financial assets?
The Financial Stability Board reports that global financial assets stood at ~$480 trillion by end-2023. It highlights rising risks from non-bank financial institutions, recommending tighter leverage limits and disclosure rules.
Insight
The data underscores the massive scale of global finance and growing systemic concerns tied to opaque non-bank actors. Regulatory focus is intensifying to improve transparency and prevent market shocks.
Trump Says He’s Open to Tariff Talks With EU After Threatening 30% Levy
After announcing potential 30% tariffs on EU goods, Trump expressed willingness to negotiate terms, signaling openness to dialogue despite aggressive posturing.
Insight
This reflects a high-stakes bargaining approach: strong initial threats used to extract concessions but leaving diplomatic space to negotiate, a hallmark of Trump’s trade strategy.
