Financial Times (October 10)
“Germany is facing its first two-year recession since the early 2000s as the government downgraded its 2024 growth forecast for the eurozone’s largest economy.” Hurdles have included “soaring inflation, high interest rates and energy costs driven higher by Russia’s full-scale invasion of Ukraine,” along with longer term “structural problems, such as Germany’s dire skills shortage, years of under-investment in infrastructure and excessive red tape.”
Tags: Economy, Energy costs, eurozone, Germany, Growth forecast, Hurdles, Inflation, Infrastructure, Interest rates, Recession, Russia, Skills shortage, Structural problems, Ukraine, Under-investment
The Guardian (August 13)
Ukraine’s attack on Russia has boosted momentum and may undercut “Putin’s strongman image,” possibly “prompting doubts among the elite” or “encouraging squabbling over who is to blame for this embarrassment.” Ultimately, however, “the final judgment on Kyiv’s bet” remains to be seen. “Taking the enemy by surprise is a short-term win. But the consequences of this bold gamble are still playing out.”
Tags: Attack, Blame, Consequences, Doubts, Embarrassment, Momentum, Putin, Russia, Short-term win, Strongman, Surprise, Ukraine, Undercut
The Economist (June 19)
“Rising temperatures in the Arctic are slowly opening up new possibilities for transport.” Geopolitical stakes are also rising in the region. “China’s support for Russia is fuelling Western distrust of the Asian power’s ‘polar silk road’ plans. But China is not retreating from the Arctic. It still sees a chance to boost its influence there, and to benefit from the area’s wealth of natural resources.”
Tags: Arctic, China, Distrust, Geopolitical, Influence, Polar silk road, Russia, Support, Temperatures, Transport, Wealth
Wall Street Journal (April 27)
Exxon and Chevron “are still printing big profits, but their postpandemic run of record earnings is slowing down.” After gyrating with Russia’s invasion of Ukraine, “oil-and-gas supplies have largely stabilized… and analysts say companies such as Exxon—the western world’s largest oil refiner—will have to prove it can keep costs down and production up if the benefits of external market forces continue to ebb.”
Tags: Analysts, Chevron, Costs, Earnings, Exxon, Gas, Gyrating, Invasion, Oil, Postpandemic, Production, Profits, Record, Refiner, Russia, Stabilized, Supply, Ukraine
Wall Street Journal (April 8)
“Japan knows the Ukraine stakes.” In contrast, U.S. critics, especially Republican members of Congress are wavering on Ukraine aid, suggesting “the war in Europe is a distraction from more serious threats in Asia.” Tokyo realizes “a Russian victory may encourage Chinese imperialism.” Hopefully, during his visit next week, Prime Minister Kishida “can disabuse” Republicans of their errant notion. His government’s foreign policy “reflects the seriousness of the current geopolitical moment. Japan recognizes that the threat to the well-being of free nations is global.”
Tags: Aid, Asia, China, Congress, Critics, Europe, Free nations, Japan, Kishida, Republican, Russia, Stakes, Threats, U.S., Ukraine, War, Wavering, Well-being
Reuters (December 23)
In 2024, “the global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Even if Europe’s gas crisis eases, Western manufacturers’ focus will switch to reducing China’s dominance in materials key to a cleaner economy.”
Tags: 2024, Autocratic, China, Cleaner, Dominance, Energy, Europe, Fossil fuels, Gas crisis, Global, Invasion, Materials, Metals, Raw materials, Relying, Risk, Russia, Shift, Trade war, Ukraine
New York Times (November 1)
“After shocks from the pandemic and Russia’s invasion of Ukraine, there’s little cushion if the fighting between Hamas and Israel becomes a regional conflict.” An escalation would cloud “the global economy’s outlook, threatening to dampen growth and reignite a rise in energy and food prices.” An escalation would also mark the first time the world has dealt with two simultaneous energy shocks.
Tags: Energy, Escalation, Fighting, Food, Global economy, Hamas, Invasion, Israel, Outlook, Pandemic, Regional conflict, Russia, Shocks, Ukraine
Wall Street Journal (September 6)
Vladimir Putin’s meeting with North Korea’s Kim Jong Un “underscores the global nature of the threat to U.S. interests.” Indeed, the Japanese Prime Minister’s visit to Kyiv this spring was partly “because America’s allies in Asia understand that Ukraine isn’t a distant squabble. Russia has its own Pacific ambitions, including militarizing the Kuril Islands, some of which Japan also claims. A Russia that prevails in Ukraine will provoke elsewhere. Mr. Putin is also the junior partner to the neighborhood’s No. 1 threat: The Chinese Communist Party.”
Tags: Allies, Asia, CCP, Global nature, Japan, Kim, Kuril Islands, Kyiv, North Korea, Pacific ambitions, Prime minister, Provoke, Putin, Russia, Threat, U.S. interests, Ukraine
The Guardian (August 10)
“China’s attempt to hold together conflicting interests on the war in Ukraine – maintaining its ‘no limits’ partnership with Russia, without damaging its relationship with western nations and its tarnished global brand too greatly – has proved awkward.” Beijing’s gestures “should not be mistaken for a substantive shift in position. But they should not be ignored either.”
Tags: Awkward, China, Conflicting interests, Damaging, Gestures, Global brand, Partnership, Russia, Tarnished, Ukraine, War, Western nations
Investing.com (July 2)
“Oil prices settled down 1% on Monday as worries about a slowing global economy and possible U.S. interest-rate hikes outweighed supply cuts announced for August by top exporters Saudi Arabia and Russia.”
Tags: August, Down, Exporters, Global economy, Interest rate hikes, Oil prices, Russia, Saudi Arabia, Supply cuts, U.S., Worries. Slowing
