Geopolitical Flashpoints — China-ASEAN, India-US Trade, Fed Holds, EU Energy
A cluster of geopolitical and macro headlines: China-Philippines ASEAN standoff, India-US trade deal progress, the Fed holding rates pre-midterms, and the EU facing a dual gas-and-oil energy crisis.
What we know
China's defence ministry accused the Philippines of undermining the spirit of ASEAN over South China Sea disputes, escalating tensions ahead of the ASEAN Defence Ministers' Summit — an account on X. India's trade minister stated a US trade deal will not compromise farmer interests and India will hold a 'strong comparative advantage' post-deal — another account on X. The EU energy chief noted that while Europe uses 18% less gas than in 2022, the current crisis is compounded by oil product shortages — another account on X. The Fed held rates despite soaring prices, days before midterms — @FT — with the FT warning the Fed is 'playing for time but doesn't have much' — @FT.
Sources
“Fed holds US borrowing costs despite soaring prices, days before midterm elections”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.