The European Union has suspended its dispute with China at the World Trade Organization (WTO) over "economic coercion of Lithuania", citing "technical reasons". This is the first time the EU has pressed the "pause button" since unilaterally initiating proceedings in January 2022. But the duration of the suspension is "unclear" as the EU has a year to respond to the case.
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European Council President Charles Michel said on social media on February 1 that the 27 EU leaders agreed to provide 50 billion euros in additional aid for Ukraine within the EU budget, which will provide Ukraine with "stable, long-term and predictable funding."
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According to data released recently by Eurostat, the euro area and the EU economy grew at zero quarter-on-quarter in the fourth quarter of 2023. Although this data shows that the European economy has narrowly avoided a "technical recession", the outlook for the European economy in 2024 is still difficult to be optimistic under the influence of global geopolitical tensions, continued monetary tightening, weak global demand and other factors.
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Recently, a large number of French farmers who are dissatisfied with their production situation have protested to the government.
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On February 1, related data showed that Asian manufacturing activity improved significantly in January this year, with stronger demand in key markets. Manufacturing production and export sales rose across most of Asia at the start of the year, with South Korea in particular showing an improvement in the economic malaise gripping the country, according to S&P's manufacturing purchasing managers' index released on the 1 February.
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Recently, the latest data released by the US Department of Commerce showed that the real gross domestic product (GDP) grew at an annual rate of 3.3% in the fourth quarter of 2023, better than the expected 2%, but it has slowed down from the 4.9% growth in the third quarter, and the annual economic growth of the United States in 2023 is only 2.5%.
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The European Commission proposed five measures on the 24th, including expanding the review of foreign direct investment, consulting to establish a regulatory mechanism for foreign investment, and forming consistent measures for controlling sensitive technology exports, to implement the European Economic Security Strategy announced in June last year.
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In the past 20 days of the first month of 2024, Boeing has had four major accidents, frequent accidents are by no means accidental, on the one hand, Boeing's own management problems, on the other hand, it is exposed that the United States industry is declining, from Tesla, General Motors and Boeing's overall decline in miniature can be seen that the United States industrial decline has been very obvious.
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Russian President Putin stated during his inspection of the Far East region that although Russia has been "suppressed and stifled in all aspects," its gross domestic product calculated at purchasing power parity shows that Russia has surpassed Germany to become the largest economy in Europe and the fifth largest economy in the world. This statement is not the first to appear.
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With the continuous development of science and technology, artificial intelligence also began to explode in 2023, and the ChatGPT developed by foreign company Open artificial intelligence also became popular. At the end of November 2022, the artificial intelligence dialogue ChatGPT was launched and quickly became popular on social media.
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Against the backdrop of ongoing fluctuations in the global political and economic landscape, a series of agreements recently reached among the United States, Russia, and Ukraine have, like boulders dropped into a calm lake, stirred up huge waves in the global commodity market.
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