1. WTO: the growth rate of global trade in goods slows. On the 15th, local time, the WTO released the latest barometer of trade in goods, with a reading of 99.5, close to the benchmark value of 100. Compared with the barometer of trade in goods in the previous period, the reading decreased significantly, indicating that global trade in goods began to slow after a strong rebound. The main reason is that production and supply disruptions in key sectors have curbed trade growth, and import demand has also begun to weaken.
2. U.S. president Joe Biden officially signed the bipartisan infrastructure bill on November 15 local time, putting forward six priorities for rebuilding U.S. infrastructure, strengthening manufacturing, creating high-paying jobs, developing the economy, and solving the climate change crisis, to provide preliminary guidelines. Biden also made a public speech at the White House on the same day, stressing the importance of bipartisan infrastructure bills for American workers, families and homegrown construction.
3. The ASEAN Secretariat, the custodian of the Regional Comprehensive Economic Partnership (RCEP), recently issued a notice announcing that six ASEAN members, including Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam, and four non-ASEAN members, including China, Japan, New Zealand and Australia, have formally submitted their instruments of approval to the Secretary-General of ASEAN to meet the threshold for the entry into force of the agreement. The RCEP will enter into force for the above ten countries on January 1, 2022. The entry into force of RCEP will benefit about 3.5 billion of the population of the economies in the region, and will certainly promote the recovery and sustained growth of the global economy.
4. Germany announced that it had suspended the approval of Nord Stream 2 pipeline for soaring natural gas prices in Europe. On Tuesday, the Federal Network Agency of Germany announced that it had decided to suspend approval of the Nord Stream 2 natural gas pipeline linking Russia and Germany, triggering another surge in European benchmark natural gas prices. German regulators said that after a careful review of the application documents, it was found that the operating entity of the pipeline was not in compliance with the law. Gazprom currently has only a subsidiary operating the pipeline in Switzerland, and in order to meet EU rules, it has decided to set up a subsidiary in Germany to manage pipeline assets and operations in Germany. Therefore, the regulatory decision to suspend approval, waiting for the relevant companies to complete the transfer of assets and personnel.
5. The European Council and the European Parliament have reached an agreement on the EU budget for 2022. The European Council and the European Parliament reached an agreement on the 2022 EU budget on the 15th, setting the total amount of the new budget at 169.515 billion euros and the total expenditure at 170.603 billion euros. Under the agreement, the new budget will focus on supporting economic recovery, tackling climate change and green and digital transformation, while leaving sufficient space within the expenditure limits of the fiscal framework for the period from 2021 to 2027 to meet unforeseen demand in the future.
6. The Bank of Korea (Central Bank) Financial and Monetary Committee will hold an interest rate meeting on the 25th of this month to adjust the current 0.75% benchmark interest rate. Analysts believe that the Bank of Korea may raise the benchmark interest rate by 25 basis points to 1.0%. It is said that taking into account the rising prices in South Korea after the interest rate hike in August and the volatility of the financial market, the interest rate hike will help to achieve a soft landing on inflation and ensure the stable operation of the financial market.
7. A vaccine research institute in the United States has found five suspicious vials labeled “smallpox”. The institute was immediately blocked, and the CDC and FBI of the United States have launched an investigation. CDC said workers came across the vials while cleaning the refrigerator and reported them.
8. Us data recently showed that CPI in October was much higher than expected, rising 6.2 per cent year-on-year, the highest since December 1990; core CPI, excluding food and energy prices, rose 4.6 per cent year-on-year, the highest since September 1991. At the same time, Europe is also plagued by rising prices, with the euro zone reconciling CPI year-on-year growth to an all-time high in October.
9. National Oceanic and Atmospheric Administration: in October, temperatures in the Northern Hemisphere reached their highest level in more than 140 years and the fourth hottest month in the world. Records show that the eight hottest October have all occurred in the last eight years. From January to October this year, the number of global tropical storms reached 86, exceeding the normal level for the same period in history. There is a 99% chance that this year will be one of the 10 hottest years on record.
10. ONS: as the overall price of the UK economy rises, inflation has reached its highest level in a decade, with fuel and energy costs bearing the brunt.
11. French government spokesman Attar: the peak of a new round of epidemic in France has arrived. In the past seven days, the proportion of novel coronavirus infection per 100000 people in the country has exceeded 100, with the epidemic situation in Corsica, Provence-Alps-Blue Coast region and Loire region particularly serious. In addition, the number of cases admitted to hospitals for COVID-19 across France has increased by 10 per cent in the past week. Studies in France have shown that people who have not been vaccinated are nine times more likely to be admitted to the intensive care unit because of COVID-19 than those who have been vaccinated.
12. The price of Thai palm fruit rose to 9 baht per kilogram, the highest price in nearly 10 years. Thailand’s deputy prime minister says current palm prices are good news for palm growers. The rise in palm prices in Thailand is mainly due to the government’s policy of banning the import of foreign palm fruits by land channels. At the same time, the government uses palm fruits for diesel production and actively opens up new export markets.
Post time: Nov-18-2021