Weeks of October 14-28 Newsletter

??THIS WEEK: Healthcare, Climate Action, Supply Chains, Artificial Intelligence, Sustainability, Trade

Get the inside scoop on what is going to happen this week locally, in the U.S. and on the international stage.

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INFOGRAPHIC OF THE WEEK

HAPPENING THIS WEEK

Monday, 28 October

• United Nations: Annual Meeting of the Global Investors for Sustainable Development (GISD) Alliance, supported by the Department of Economic and Social Affairs, continues until 29 October (New York)
• United Nations: Intersessional Multi-stakeholder Hearing in preparation for the Fourth International Conference on Financing for Development (FfD4) (New York)
• USA: "Sustainable and Circular Textile Value Chains: Insights from Life Cycle Assessments" report launch at the Textile Exchange Conference (Los Angeles)
• Switzerland: 352nd Session of the International Labour Organization Governing Body continues until 7 November (Geneva)
• Colombia: 16th meeting of COP16 on Biological Diversity, with UNEP-WCMC launching the Protected Planet Report 2024 (Cali)
• Thailand: COP13 of the Vienna Convention and MOP36 of the Montreal Protocol begins, continues until 1 November (Bangkok)
• Global: UN Framework Convention on Climate Change releases its Nationally Determined Contributions Annual Synthesis Report

Tuesday, 29 October

• Switzerland: Press conference by UN Trade and Development on the Trade and Development Report 2024 (Geneva)
• Denmark: 74th session of the WHO Regional Committee for Europe begins, continues until 31 October (Copenhagen)
• Italy: UN SDG Action Awards Ceremony 2024 (Rome)
• European Union: Webinar for strategic projects under the Net-Zero Industry Act (Online)
• United Kingdom: EU delegations from several committees travel to London to discuss EU-UK relations (London)

Wednesday, 30 October

• South Korea: 8th Regional Symposium on Effective Governance and AI Transformation begins, continues until 1 November (Incheon)
• Brazil: G20 high-level meeting on One Health, focusing on global One Health governance, co-hosted by FAO, UNEP, WHO, WOAH, and the Brazilian government (Rio de Janeiro)
• European Union: Launch event for the Atlas of the Human Planet 2024 (Online)
• Azerbaijan: Baku Climate Action Week (Baku)
• Spain: High-level Meeting on National Drought Policy +10 (Barcelona)

• Thailand: NDC 3.0 Regional Forum for Asia (Bangkok)

• Switzerland: Forum of Mayors 2024 (Geneva)

Thursday, 31 October

• Global: World Cities Day
• Switzerland: 2024 Social Forum begins, continues until 1 November (Geneva)
• Thailand: UNEP launches "Global Assessment of N2O" report at MOP36 (Bangkok)
• USA: EU delegation attends IMF and World Bank annual meetings, with meetings scheduled with U.S. officials (Washington, D.C.)
• India: Diwali, the festival of lights, is celebrated, with significant consumer spending expected

Friday, 1 November

• Global: UNEP and UNFCCC release "Unleashing Renewable Potential for Ambitious NDCs" report
• Germany: 9th FOREST EUROPE Ministerial Conference (K?nigswinter)

GLOBAL ECONOMIC PULSE

USA: The U.S. Department of the Treasury will announce its quarterly refunding strategy, impacting fiscal policy and the deficit for 2024. Additionally, non-farm payroll data is expected, providing insight into the labor market just before the presidential election. Recent Purchasing Managers' Index (PMI) data shows resilience in the U.S. services sector, though manufacturing continues to struggle. Inflation data, including the core Personal Consumption Expenditures index (the Federal Open Market Committee's preferred measure), is also set to be released, guiding future interest rate decisions.

EUROPE: In the United Kingdom, the upcoming budget announcement on October 30th is expected to influence Gilt yields and reflects concerns over economic growth amid geopolitical uncertainties. European Central Bank (ECB) observers are speculating about a potential interest rate cut in December if the upcoming inflation data and third-quarter Gross Domestic Product (GDP) estimates show weak performance. Eurozone PMIs indicate a second consecutive month of business contraction, exacerbating concerns about economic stability in the region.

ASIA: In Japan, the Bank of Japan is anticipated to keep interest rates unchanged in its October meeting. The bank’s quarterly report may revise inflation expectations upwards, though GDP growth forecasts for fiscal year 2024 might be reduced due to issues in the auto sector and recent natural disasters. Industrial production is projected to rebound, led by recovery in auto manufacturing. South Korea's industrial production and trade data suggest growth, particularly in the semiconductor sector, though petrochemical exports are weakening. Australia is expected to see year-on-year inflation fall within target, though core inflation remains high, making rate cuts unlikely. Indonesia’s consumer price index remains low due to stable food prices and a strong rupiah, potentially allowing Bank Indonesia to cut rates.

LATIN AMERICA: Colombia will announce an interest rate decision amid broader economic indicators, though specifics about expected rate changes were not provided.

AFRICA: In South Africa, the Medium-Term Budget Policy Statement is due on October 30th.

WEEKLY TRADE UPDATE

United States of America: Recent regulatory developments in the United States include the adoption of multiple policies and guidelines impacting digital assets, cybersecurity, and artificial intelligence. The Federal Trade Commission (FTC) adopted rules banning fake reviews and updated its Negative Option Rule, while the Consumer Financial Protection Bureau (CFPB) issued a rule on Personal Financial Data Rights. Additionally, the U.S. adopted a Treasury rule on investments related to national security and issued a National Security Memorandum on artificial intelligence. Further actions include an Act regulating blockchain and digital assets mining, and consultations by the Federal Communications Commission (FCC) on broadband data caps. Settlements were reached in lawsuits against Alibaba for monopolistic practices and Lyft over driver compensation.

Europe: In the European Union, key legislative measures include the implementation of the Network and Information Security Directive (NIS2) to enhance cybersecurity, the Platform Work Directive for worker rights, and guidelines on exclusionary abuses of dominance. Additionally, a consultation was opened on the creation of an AI expert panel, and the European Commission adopted new data protection guidelines. The European Court of Justice ruled on software protection in a case involving Sony. The EU-UK Competition Cooperation Agreement was also announced, strengthening cross-border regulatory collaboration.

Asia: In China, consultations closed on cybersecurity standards for data localization, cross-border transfers, and network security for academic platforms. South Korea adopted measures to combat e-commerce data protection violations and issued guidelines on personal information in autonomous driving AI. Japan initiated consultations on broadcasting standards in the digital age. Hong Kong issued a statement on LinkedIn’s data usage, and ASEAN-5 launched a Regional Computer Emergency Response Team (CERT) for enhanced cybersecurity.

Latin America: Argentina completed consultations on AI transparency and personal data protection, while Mexico implemented amendments to regulate digital hosting platforms. Brazil and other Latin American nations issued a joint statement on international age assurance for online content, showcasing a regional commitment to child protection.

Africa: South Africa concluded a consumer survey on online news platform influence, highlighting digital engagement trends.

Recent Executive Briefs

Please take a look at our recent publications on Healthcare, Climate Action, Supply Chains, Artificial Intelligence, Sustainability, Trade. Downloads are free.

DOWNLOAD current and past issues at: https://insights.governmentanalytica.com/executive-briefs

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