‘Indeed, things are getting so difficult for Xi’s authoritarian directives…China’s economy actually fell into deflation in July, while factory-gate prices also extended declines—its debt is three times its GDP in 2022. Beijing’s consumer price index, the main gauge of inflation, fell 0.3 per cent in July, the National Bureau of Statistics of China (NBS) said, after having flatlined in June.’
Both the G7 and the BRICS countries are led by self-interest. Superpowers are superpowers, whether they are Western or Eastern: they intend to expand their influence on the global stage. The lesson for Hungary is to maintain good relations with everyone, but defend oneself against all types of neo-colonialism, be it Western or Eastern.
It is high time to start building a close strategic partnership with the new member of the ‘Central European family’ that—as the only one of us—got a seat at the G7 table while it is fighting a heroic fight for freedom to regain its occupied territories: i.e., Ukraine.
As regards so-called ‘globalization’, it is becoming evident that—due to technological and supply chains complexities—it is reaching its natural limits. We should, therefore, pay more attention to the rationality of domestic policies.
Brazil is facing presidential elections on Sunday. The outcome of the clash of the titans, Bolsonaro and Lula, who seem to be complete political opposites, will have a huge impact on the country, yet holds few consequences for the world.