IEP: Future Trends Newsletter: 10/25/2022

October 25, 2022

IEP: Future Trends Newsletter: 10/25/2022

October 25, 2022

◯ Conflict ◯ Development ◯ Social ◯ Economics ◯ Politics

IN THIS WEEK'S EDITION

Here's what you need to know: Russia blocks UN aid access, Aus-Japan upgrade security pact against China threat, North and South Korea exchange warning shots along disputed sea boundary, India moves toward e-rupee, Spain, Portugal and France agree to build Barcelona-Marseille gas pipeline, UN sets $2 billion funding target for Somalian famine relief.

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SPECIAL EDITION: UKRAINE

Millions of Ukrainians beyond reach, as Russia blocks UN aid access.
The top UN official in Ukraine says as winter approaches, millions of people are beyond the reach of humanitarians in non-government controlled areas and are likely in need of assistance.

Senior Russian, US Generals speak amid fears of nuclear escalation.
US Chairman of the Joint Chiefs of Staff General Mark Milley has agreed with his Russian counterpart to keep lines of communication open, amid growing fears that Russia may further escalate its war in Ukraine.

US discovers network providing technology to Russian military. The US announced criminal charges and sanctions related to a complicated scheme to procure military technologies from US manufacturers and illegally supply them to Russia for its war in Ukraine.

POLITICS

Australia, Japan upgrade security pact against China threat. Australia and Japan have signed a new bilateral security agreement covering military, intelligence and cybersecurity cooperation to counter the deteriorating security outlook driven by China’s increasing assertiveness.

New PM Sunak warns UK faces profound economic challenge. The new Prime Minister faces a formidable challenge to steady the UK economy in the face of headwinds including double-digit inflation, rising interest rates, and a surge in mortgage costs.

Colombia’s congress approves $85.5 billion funding for social programs in 2023. Amid promises from President Gustavo Petro, increased spending for education, health and agriculture were approved. To move away from oil and mining, expansion for the agriculture sector is planned.

Pakistan’s election commission bars ex-PM Khan from office.
Pakistan’s elections commission has disqualified former Prime Minister Imran Khan from holding public office for five years, after finding he had unlawfully sold state gifts and concealed assets as premier.

Chad declares state of emergency as floods affect one million. The flooding has affected 636 localities in the country while swallowing up more than 465,000 hectares of fields, affecting more than a million people.

CONFLICT

North and South Korea exchange warning shots along disputed sea boundary. North and South Korea exchanged warning shots along their disputed western sea boundary, a scene of past battles, in a development that raises the potential of possible clashes after North Korea’s recent barrage of weapons tests.

Japan will undertake its biggest arms build-up since WWII. Feeling threatened by Beijing's disregard for international norms, pressure on Taiwan and military modernisation, Japan intends to discourage China from war in East Asia.

At least 50 killed in Myanmar airstrike. An air strike killed at least 50 people at a concert in Myanmar held by an ethnic minority group in conflict with the ruling military. The attack in Kachin killed civilians, local singers and officers of the Kachin Independence Army.

Tribal fighting in Sudan escalates further as 220 killed. A land dispute has pushed the provincial government to declare a 30-day state of emergency and ban gatherings, as more than 7000 people were displaced amid ongoing unrest.

ECONOMICS

India moves toward e-rupee. India has started rolling out plans for a digital rupee, joining a wave of countries pushing to make payments and other transactions more efficient through similar steps.

Japan intervenes with at least $30 billion to prop up yen. Japanese authorities are likely to have spent more than $30 billion last week in their second intervention in a month to prop up the yen after it fell to a fresh 32-year-low against the dollar.

First hydrogen shipment arrives in Hamburg from UAE. This is the first delivery of hydrogen to Germany, in hopes of replacing fossil fuels with a greener alternative, a switch hastened by Russia cutting off gas exports.

Pfizer expects to roughly quadruple US Covid vaccine price. Pfizer Inc expects to roughly quadruple the price of its Covid-19 vaccine to about $110 to $130 per dose, after the US government's current purchase program expires.

Saudi Arabian firm to collaborate with IDC to generate green hydrogen. ACWA Power and the Industrial Development Corporation of South Africa (IDC) have signed an extensive MoU exploring a partnership in the development of green hydrogen and its derivatives. The collaboration is estimated at $10 billion.

DEVELOPMENT

Spain, Portugal and France agree to build Barcelona-Marseille gas pipeline. The sea-based pipeline will carry hydrogen and gas to help alleviate Europe's energy crisis. Spain and France further agreed on intensifying their work on connecting the two national electricity grids.

WHO advises one dose of cholera vaccine due to shortage. WHO and its partners are recommending countries temporarily switch to using a single dose of the cholera vaccine, instead of two, due to a supply shortage as outbreaks of the water-borne disease surge globally.

South African court revokes Shell’s oil and gas exploration rights. Shell is now banned from searching for fossil fuels along the country’s Wild Coast after activists took the matter to the court. The Eastern Cape high court revoked Shell’s exploration rights, ruling that they were granted illegally.

US charges Chinese spies over Huawei probe. Two suspected Chinese intelligence officers have been charged with attempting to obstruct a US criminal investigation of Chinese tech giant Huawei by offering bribes.

First-of-its-kind technology to monitor tumours in real-time. It is the first bioelectronic device to monitor tumour regression. This new technology uses a wearable device equipped with a sensor that can indicate whether the tumour is growing or shrinking, and sends the results directly to a smartphone.

SOCIAL

UN sets $2 billion funding target for Somalian famine relief. Somalia faces famine on a scale last seen half a century ago, with the UN setting a new target of more than $2 billion in funding needs.

US child poverty rates have dropped 59% in past 26 years. Over the past quarter century, the US has witnessed an unprecedented decline in child poverty rates. Today there are roughly 1 in 10 children living in families whose economic resources are considered below the poverty line.

Covid disrupted measles vaccinations in Africa, with cases surging.
The Covid-19 pandemic interrupted measles vaccine campaigns globally in 2020 and 2021, leaving millions of children unprotected against one of the world's most contagious diseases.

Meta threatens to pull news content in Canada, due to new potential law. Meta has threatened to shut down their news content feeds in Canada, should a new law be passed forcing shared revenue with local news organizations. This new law is modelled on similar legislation to Australia.