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A recent Bank of Korea survey reveals that 56% of local financiers and experts are concerned about potential US policy changes following Donald Trump's decisive election victory. This concern ranks as the second highest risk for South Korea, just behind the issue of elevated household debt.
Investors anticipate growth in the space industry under the Trump administration, with expectations of increased defense budgets and reduced regulatory hurdles. While some see potential for significant investment, others caution that the impact may be less dramatic due to existing geopolitical tensions and Europe's ongoing efforts to bolster its space sector. Notably, China has outpaced the U.S. in space investment this year, highlighting the intensifying competition in the field.
The Biden administration plans to cancel $4.65 billion of Ukraine's debt, as detailed in a letter to Congress. This move includes forgiving half of a $9 billion loan provided to Ukraine as part of a $60 billion supplemental package approved in April, a concept initially proposed by Donald Trump during his campaign.
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Germany is facing significant anxieties over deindustrialisation, particularly in Baden-Württemberg, home to major companies like Bosch and Mercedes. Minister Danyal Bayaz warns that the country has wasted the benefits of globalisation, leading to underfunding amid rising energy costs and increased competition from China, alongside potential tariffs from the U.S. This precarious situation threatens to collapse Germany's established business model.
Venezuela has approved the sale of government debt in the local market for the first time since 2019, aiming to address rising spending and stabilize the exchange rate. President Nicolas Maduro has authorized the issuance of up to 20 billion bolivars (approximately $437 million) in promissory notes and an unspecified amount of bonds, which may be denominated in local or foreign currency.
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India requires a range of bilateral trade agreements to enhance market access and leverage the 'China plus one' strategy in global manufacturing, as highlighted in the Reserve Bank of India's November bulletin. The urgency lies in standardizing negotiations to tackle rules of origin and non-tariff barriers. Over the past five years, imports from FTA partners surged by 37.9%, while exports only rose by 14.5%, indicating a need for a more effective trade approach.
Euro-area banks are increasingly reliant on US dollar markets for liquidity, with their use of dollar repos nearly doubling to €1.6 trillion ($1.7 trillion) over the past two years. This reliance poses risks to financial stability, as dollar-denominated assets now represent 17% of their funding.
Ethiopia is set to export approximately 100 megawatts of electricity to Tanzania through Kenya, pending the finalization of a cross-border trade agreement. The amount of power to be traded may be adjusted during the upcoming negotiations, according to Ethiopian Electric Power spokesperson Moges Mekonnen.
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