News

1. Exports fell for five consecutive months, and 40,000 factories in Vietnam’s textile industry stopped working
Vietnam’s exports fell for five consecutive months in July, the longest decline in 14 years, according to Bloomberg, and the foreign trade-dependent economy may struggle to meet its 6.5% economic growth target this year. Vietnam’s textile exports to the United States fell by 27.1% in the first five months of 2023, while exports to Canada and the European Union fell by 10.9% and 6.2% respectively due to the global economic slowdown, according to the Vietnam Textile and Apparel Association. Among them, the decline in export orders in the textile industry led to the shutdown of 42,900 factories.

2. After the Indian ban triggered a sharp rise in global rice prices, Russia and the United Arab Emirates tightened rice exports
On the 29th local time, Russia announced that it will continue to restrict its own rice and broken rice exports. The day before, the UAE also announced a moratorium on rice exports. Both countries explained that global rice prices rose sharply after India’s ban, fearing that it would exacerbate inflation and affect domestic food security, so they also took measures to ban rice exports.
3. Foreign media: The United States and Italy said that they will provide military assistance to Ukraine “indefinitely”
On July 27, the leaders of the United States and Italy issued a joint statement saying they would provide military and other types of assistance to Ukraine “indefinitely.”

4. Putin expressed his willingness to give seized Russian fertilizers to countries in need
Russian President Vladimir Putin said on July 29 that he would be willing to provide Russian fertilizers seized in the Baltic states free of charge to countries in need, including African countries. The Russian side has repeatedly expressed its readiness to continue to provide food to the least developed countries. Putin said on the 28th that Russia is increasing its food supply to African countries, and has supplied nearly 10 million tons of grain in the first half of this year.

5. U.S. economy grew 2.4% in the second quarter
The first estimated data released by the US Department of Commerce on the 27th showed that the US real gross domestic product (GDP) in the second quarter of 2023 increased by 2.4% on an annualized basis, up from 2% in the first quarter, but consumer spending weakened and exports fell.

6. Japan will ban the export to Russia of cars with a displacement of 1900CC or more
Japanese Minister of Economy, Trade and Industry Yasuminoru Nishimura said that Japan will ban the export of cars with a displacement of 1,900cc or more to Russia from August 9.

7. Is it easy to buy a car and difficult to repair it? The talent gap for energy-saving and new energy vehicles may exceed one million
In recent years, the development of new energy vehicles in China has entered the fast lane, but the speed of talent training in the field of after-sales maintenance has not kept pace with the development of the front-end industry. According to the Manufacturing Talent Development Planning Guide, by 2025, the total number of talents in energy-saving and new energy vehicles is expected to reach 1.2 million, but the talent gap is expected to reach 1.03 million.

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