The EU-China bilateral summit could be held in China in the second half of July to commemorate the 50th anniversary of diplomatic relations.

This was stated by a spokesperson for the President of the European Council, António Acosta, when referring to the upcoming meeting of representatives from both regions.

The source stated: “We are coordinating with China to set a date for the meeting, which is expected to take place in China in the second half of July.”

This summit will follow the EU-Japan summit, which will be held in that country, and about which several discussions are already underway.

M. Pino

Source: dw

(Reference image source: ALEXANDRE LALLEMAND on Unsplash)

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Mexico, Colombia and Uruguay have been invited by the President of Brazil, Luiz Inácio Lula da Silva, to participate in the next BRICS summit, which will take place in Rio de Janeiro next July.

The Brazilian leader considers the presence of these nations crucial to address issues that constitute global challenges. The invitation was made by Lula da Silva in Montevideo, during the inauguration of Uruguayan President Yamandú Orsi, last Saturday.

“Lula stressed that the BRICS have a significant weight in the world, representing almost half of the population and the international Gross Domestic Product. He also highlighted the influence of China and India within the group, underlining their decisive role in the world economy.”

Despite not being members of the group, the president of Brazil considers that the presence of envoys from Mexico, Uruguay and Colombia is crucial for the next summit in Rio de Janeiro and added: “It is important that at this BRICS summit we truly strengthen two fundamental things. We strengthen multilateralism and we strengthen free trade. Because if there is no free trade, there is no multilateralism, there is no democracy.”

M.Pino

Source: resumenlatinoamericano

(Reference image source: Raphael Nogueira on Unsplash)

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The summit of leaders of the European Union and the Community of Latin American and Caribbean States (CELAC) will be held on July 17 and 18 in Brussels, both blocks have announced in a joint statement.

The announcement has been made official coinciding with the visit to Argentina of the President of the European Council, Charles Michel, where he has participated in a CELAC meeting and has held meetings with the presidents of Colombia, Gustavo Petro, and Brazil, Luiz Inacio Lula da Silva, in addition to the temporary president of CELAC, the president of Saint Vincent and the Grenadines, Ralph Gonsalves.

The July meeting will kick off the Spanish presidency of the EU and will serve to resume contact at the highest level with South America and the Caribbean, a region with which the EU has not held a summit since 2015.

The format and the participants in the meeting remain to be seen, although during a visit to the region last October, the High Representative of the EU for Foreign Policy, Josep Borrell, defended including Venezuela, Nicaragua and Cuba in the future summit. Despite recognizing that relations with some countries in the area are “difficult”. “There are clear differences with some countries and governments, should that lead us not to want to sit down and share a table and tablecloth with them? No, I think that would not help,” he said then.

According to the statement, the summit will focus on strengthening the bi-regional association of the EU and CELAC countries with shared priorities such as digital and green transitions, the fight against climate change and the loss of biodiversity, health, security food, migration, security and governance, in addition to the fight against transnational crime.

Source: dpa

(Reference image source: European Council Presidency / Europa Press)

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The Gross Domestic Product (GDP) of the United States experienced an increase of 0.6% in the third quarter of 2022, according to the first estimate of the data published this Thursday by the US government’s Bureau of Economic Analysis (BEA).

In this way, the United States left the technical recession in which it had entered the second quarter, when the economy contracted by 0.1 %, after having observed a fall of 0.4 % in the first three months of the year. Technical recession is called, according to the consensus of economists, the economic situation that occurs when two quarters of economic contraction are chained together.

The BEA detailed that, between July and September, there was a small decrease in investment in private inventories, although non-residential fixed investment accelerated and government spending increased. Residential fixed investment also fell and consumer spending slowed.

In purely annualized terms, the Bureau’s preferred way of presenting the data, US GDP rose 2.6 % in the third quarter of the year, compared with a 0.6 % decline in the second quarter. The annualized decline in the first quarter was 1.6 %.

In the third quarter, the BEA indicated that the saving rate of Americans was 3.3 %, one tenth less than in the previous three months. On its side, disposable income increased by 1.7 %, after having fallen by 1.5 % between April and June.

K. Tovar

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Source: El Español

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The year-on-year inflation rate in the euro zone stood at 9.1% in August, compared to the 8.9% registered in July, which represents the highest increase in prices in the euro region in the entire historical series and more than four times the price stability target of 2% of the European Central Bank (ECB), whose Governing Council will meet again next week.

According to preliminary data published by Eurostat, the rise in prices in the euro zone intensified in August, despite the fact that the year-on-year rise in energy prices slowed to 38.3% from 39.6% in July, while the increase in the price of fresh food was 10.9%, when in July it had been 11.1%.

However, services became more expensive by 3.8% year-on-year in August, one tenth more than the previous month, while the prices of non-energy industrial goods rose by 5%, compared to 4.5% in the previous month.

Excluding the impact of energy from the calculation, the year-on-year inflation rate in the euro zone stood at 5.8% in August, compared to 5.4% in the previous month, while also excluding the effect of prices of fresh food, alcohol and tobacco, the core inflation rate has climbed to a record 4.3%, three tenths more than in July.

In the month of August, nine of the nineteen eurozone countries recorded double-digit inflation rates, with the highest price increases in Estonia (25.2%), Lithuania (21.1%) and Latvia (20. 8%), while the least intense increases were observed in France (6.5%), Malta (7.1%) and Finland (7.6%).

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Source: dpa

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The year-on-year inflation rate in the United States stood at 8.5 % last July, six tenths below the 9.1 % observed in June and the lowest rise in prices since last April, according to the United States Bureau of Labor Statistics.

The relief from the rise in prices in July responded to the moderation in the rise in energy prices to 32.9 % from 41. 6% in June, while in the case of food the rise in prices accelerated to 10 .9% from 10.4 % in June, the largest increase since May 1979.

Excluding the impact of food and energy, the US core inflation rate in July was 5.9 %, in line with the figure for the previous month.

Compared to the month of June, the monthly rate of inflation remained stable, after registering a monthly increase of 1.3 % last month.

On July 27, the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) raised the country’s interest rates by 75 basis points, to a target range of between 2.25 % and 2.5 %, its highest level since December 2018.

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Source: dpa

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