1. G20 Tackles Extreme Wealth Gaps
South Africa, under its G20 presidency, has announced a groundbreaking taskforce to address global inequality. Chaired by Nobel laureate Joseph Stiglitz, the panel will analyze how concentrated wealth affects growth, poverty, and international cooperation. Findings are expected at the G20 summit in Johannesburg this November.Reuters
2. New Trade Alliance Emerges
A group including Singapore, the UAE, and New Zealand is launching the Future of Investment and Trade Partnership (FIT-P) this November. Designed to promote open, rules-based trade, the partnership focuses on digitising trade flows and facilitating equal treatment of paper and digital documents. Member countries span Asia, Latin America, Africa, and Europe, with wider expansion planned after a July 2026 in-person summit.Financial Times
3. US–China Tariff Pressures Persist
Global trade remains under strain as U.S.–China tensions continue impacting markets. Periodic ceasefires offer respite, but mounting tariffs and uncertain trade rules are fueling volatility.FinancialContent
4. Stable Growth in Taiwan
Taiwan’s economy showed stability for the third month in a row in July, signaling steady momentum amid regional uncertainties.Focus Taiwan – CNA English News
5. India on Track for Economic Supremacy by 2038
A new EY forecast projects India will become the world’s second-largest economy over the next 13 years, reaching an estimated $34.2 trillion. Strategic policies are helping it navigate international headwinds and tariff hurdles.The Logical Indian
Why It Matters
| Theme | Why It’s Significant |
|---|---|
| Inequality & Policy | The G20 taskforce marks an unprecedented focus on wealth distribution through multilateral action. |
| Trade Innovation | FIT-P signals a shift by smaller economies toward new, digital-first trade alliances. |
| Geopolitical Risks | Continued US–China tensions keep economies, supply chains, and markets vulnerable. |
| Economic Stability | Taiwan’s resilience offers a rare positive amid global uncertainty. |
| Long-term Trends | India’s rise reflects changing global economic balance and emerging power dynamics. |
