Global

A dude at Morgan Stanley is arguing in favor of a multipolar world, arguing that global growth will be boosted, intense competition will boost productivity (relating back to cold-war era innovation), and alternative supply chains will bring additional capacity to mitigate higher costs.^FT

Pepe Escobar talks about the BRICS and BRI, putting a positive (but unusually fairly realistic) spin on things.^MR Naked Capitalism is considerably more negative, this time pouring cold water on the idea of a BRICS+ expansion free-for-fall, saying that China is the one that's really interested in all these new members, while Russia is pretty alright with it but not terribly enthusiastic, while India, always the wet blanket in regards to these developments, is stating their objections. It's likely that a number of nations will join BRICS, but not all of the 23 or however many have expressed interest. It's not clear to me how necessary joining BRICS is per se compared to joining the New Development Bank, however, or the BRI. Not even to mention the SCO, EAEU, and other regional organizations. What matters to me ultimately is that nations are joining together to oppose the US, not the name of the organization they're doing it under.^NC On that note, Zimbabwe has requested to join the BRICS New Development Bank.^PD Xi has been talking about the BRI with meetings with the leaders of Indonesia, Guyana, and Georgia.^SCMP More on Guyana.^CGTN More on Indonesia.^ANN

Europe

Euro inflation has dipped from 5.5% in June to 5.3% in July, largely due to sinking energy prices.^DW

The UK railway sector is experiencing more cancellations over strikes over pay and working conditions.^AM UK firms are still exporting mining and fossil fuel extraction equipment to Russia, circumventing sanctions by sending them through subsidiaries; the profits must flow.^AM

Denmark (and also Sweden) are pushing back on the Quran-burning because Islamic nations are getting very understandably pissed off at them - of course, fascist groups inside Denmark are getting pissed off at the government for being literally 1984.^EN

Workers at Germany's car manufacturers are getting increasingly anxious as the threat of job losses given the shift to electric vehicles (which requires a retraining of workers involved in combustion engines) and the higher cost of energy and raw materials.^DW The chairman of the opposition Christian Democratic Union (CDU) has warned of irreversible deindustrialization in Germany.^AM

Poland has approval a law that creates a committee of exprts who can investigate alleged Russian interference in Poland and name politicians who allegedly allow it; presumably the ruling party will use this freely against the opposition to cement their power.^EN

Sunwoda, one of China's big battery companies, is building its first European plant in Hungary.^BNE

The number of employed people in Spain has reached an all-time record, with an overall 11.6% unemployment rate.^TS

Western Asia

Fitch Ratings has upgraded Armenia's rating as tens of thousands of refugees from Ukraine "add dynamism" to the economy. We really are living in the future we always dreamed of.^BNE

Netanyahu has launched a $27 billion rail expansion to connect to Saudi Arabia and possibly the rest of the Arabian peninsula.^MEE

China and the UAE are setting up joint air force training in Xinjiang in August.^SCMP

Qatar has offered Ukraine $100 million in humanitarian relief after the Prime Minister went to Kiev on July 28th.^AM

Central Asia

The Taliban has burned musical instruments, saying that music leads to a misguidance of the youth and the destruction of society. I honestly think you could outright kill a Taliban member if you forced them to listen to 100 gecs.^DW

China has granted Pakistan a 2-year rollover on a debt worth $2.4 billion in total, meaning that they will only have to pay interest rates.^AM Nearly 50 people have been killed by a suicide bomber at a political gathering in Pakistan.^CGTN

Eastern Asia and Oceania

China's manufacturing PMI is at 49.3, slightly higher than June's but still in contraction. Non-manufacturing came in at 51.5, falling from 53.2.^FT The world's first zero-carbon smart port, in Tiajin, has opened a new direct shipping route to South America.^CGTN The yuan's share of cross-border payments and receipts rose to a record 49% at the end of June, and the share of the dollar fell to 47%.^CGTN Chinese scientists have identified an important genetic code for enhancing rice grain yield by 7 to 15%.^CGTN China has launched its first self-deeloped undersea seismic exploration sensor last week, helping them find offshore oil and natural gas.^CGTN

The IMF is optimistic about Nepal's growth, which they expect to rebound.^ANN

According to a recent poll, Thailand's citizens are most concerned (~40%) about finances, poverty and inequality, and a little less concerned about inflation, unemployment, and criminality (~27%).^ANN

Cambodia's trade unions are setting up for their yearly negotiation for next year's minimum wage in various industrial sectors.^ANN

Africa

Prigozhin has hailed the Niger coup, saying that they have "got rid of the colonisers".^Euractiv ECOWAS leaders have given Niger a one week ultimatum to restore President Bazoum; Burkina Faso and Mali (potentially others) are supporting the new Niger government.^AN

Xi has met with Mauritania's and Burundi's presidents, with plans signed on BRI initiatives.^AN

Russia's state nuclear corporation, Rosatom, has proposed the creation of a nuclear power fleet with floating nuclear power plants, with several African countries reporting that they're interested - the BRICS NDP has agreed to fund Rosatom projects in Africa.^AM Putin has announced that they are reopening their embassy in Burkina Faso and developing cooperation with them.^AM Also, Putin has offered Zimbabwe's leader a presidential helicopter, which they seem to have accepted.^AN The leader of the South African radical left opposition party EFF has urged China, India, and Brazil to boycott the BRICS summit in solidarity with Putin, and also called Ramaphosa a "coward" and said many other juicy things.^AN

North America

The Red Clarion has called on the Teamsters union to reject the UPS agreement.^RC Labor Notes is also covering this.^LN

Biden last week announced new actions to protect communities from extreme heat, as tens or even hundreds of millions of Americans suffer in heatwaves.^TS This heat is worsening insect infestations, with some residents comparing them to a "biblical plague" as insects ravaged crops.^PD

The NPP Vogtle unit 3 is finally about to open after going 7 years past schedule, the first reactor that the US has built from scratch in over 30 years - and also perhaps its last.^FT

Latin America

Kenya's foreign minister has said that they are ready to lead a multinational force into Haiti to assist the government and deploy police officers.^AM

Mexico has complimented the effectiveness of Cuban vaccines as AMLO gets closer to Diaz-Canel.^Resumen The Cuban private sector is discussed.^Resumen

Bolivia is increasingly using the yuan in foreign trade, with its use reaching 10% in recent moths.^AM

Indigenous community members in Argentina are marching for the defense of their territories and natural resources and in rejection of the reforms promoted by the provinicial governor.^TS Argentina has been forced to import millions of tons of soybeans this year as a once-in-a-lifetime drought has struck the country.^MP

A desalination plant from the US has arrived in Uruguay after taking twice the time it should have to arrive - it will supply drinking water for 150,000 people.^MP

Poverty in Chile has hit a historic low, from 10.7% in 2020 to 6.5% this year.^MP

Brazil has shipped the world's first green lithium - made with zero carbon emissions, zero wate, and zero harmful chemicals.^MP