The Chinese economy is likely to enter a period of deflation. Domestic economist Han de Jong believes that it is not possible for China to avoid negative inflation, because inflation already fell to 0% in June. “There’s a very good chance it will go below zero.” BNR has listed this week’s top international news for you.
Falling transportation costs and weak development of the Chinese economy are two reasons behind the threat of deflation. After the company reopened after the corona pandemic, China’s economy has not yet returned to its old level, De Jong also sees. “That reopening has yet to lead to a spectacular recovery in business.”
Nuclear power plant
Not only was the Chinese economy busy this week, but also the NATO summit was held in Vilnius, Lithuania. One of the items on the agenda was the possible accession of Ukraine to NATO. But if that were to happen now, the alliance would be embroiled in a war with Russia, says foreign affairs commentator Bernard Hammelburg. Accelerating Ukraine’s accession would trigger Article 5, with all its consequences.
It was exciting at the NATO summit, but also around the Zaporizhia nuclear power plant in Ukraine. The Russians are now in control of the plant and there are rumors that they want to blow it up. According to nuclear physicist Wim Turkenburg, this is “not believable”, because then they would largely harm themselves with the troops occupying that part of Ukraine. Turkenburg therefore considers the possibility of the Russians blowing up the nuclear power plant small.
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Russia itself had its eye on the NATO summit last week. Especially since Turkey approved Sweden’s entry into the alliance. “This is a sensitive issue,” notes Russia correspondent Joost Bosman. It is a sign that the relationship between Türkiye and Russia may cool off. “A Russian political scientist concluded on TV that Turkish President Erdogan realizes President Putin’s end may be near,” Bosman said.
However, the end of the conflict in Ukraine is not yet in sight and fierce fighting continues at the front. But things are not moving fast enough according to Ukrainian President Volodimir Zelensky. In an interview with ABC News, he said he thinks the counteroffensive is going “too slow.” More material and munitions are needed, but the fact that the United States is now supplying cluster munitions is a “good first step,” he says.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
