Germany

Azerbaijan

Economics

Energy

Politics

Azerbaijani President Ilham Aliyev and German Chancellor Friedrich Merz signed a joint declaration establishing a strategic bilateral agenda and a separate agreement creating an Azerbaijan-Germany Business Council in Berlin, AZERTAC reported on July 21. 

Azerbaijan, Germany: Strategic Agenda Will Deepen Energy and Transit Ties

Indonesia

Indonesia is provisionally reducing the budget for President Prabowo Subianto's flagship free school meals program to $12.8 billion, marking the second budget cut since the program's initial $18.7 billion allocation, with further cuts still possible, Reuters reported on July 21. 

Indonesia: Free Meals Cut Highlights Fiscal Tightness, Limits of Spending Agenda

United Kingdom

Military & Security

New British Prime Minister Andy Burnham named former Defense Secretary John Healey as Treasury chief, with figures previously considered favorites, such as Shabana Mahmood and Ed Miliband, named to the Home and Foreign Offices, respectively, while Wes Streeting became defense secretary, Reuters reported on July 20.

U.K.: New Prime Minister Unveils Cabinet and First Cost-of-Living Measures

Canada

United States

U.S. President Donald Trump signed three presidential proclamations on July 20 to place 50% tariffs on a list of imports from Canada using Section 338 of the 1930 Tariff Act, more commonly known as the Smoot-Hawley Tariff Act, over alleged Canadian discrimination against U.S. commerce starting Aug. 19. 

Canada, U.S.: White House Announces 50% Tariffs on $20B in Canadian Imports

China

Papua New Guinea

Taiwan

Taiwan's Foreign Minister Lin Chia-lung said the ministry had convened a meeting to discuss Taiwan's response options to Papua New Guinea's potential closure of a Taiwan trade office, the Taipei Times reported on July 19.

Taiwan, Papua New Guinea: Taipei Threatens To Stop LNG Purchases Over Trade Office Dispute

Nicaragua

Nicaraguan President Daniel Ortega said that "there will be no more elections" that allow the opposition to try to seize control of the government, DW reported on July 19.

Nicaragua: President Says Country Will No Longer Hold Elections

Iran

Iranian officials said regional mediators had proposed a 10-day truce between the United States and Iran to facilitate progress in bilateral negotiations, Reuters reported on July 20.

U.S., Iran: Mediators Reportedly Propose Temporary Truce as U.S.-Iran Exchanges Escalate

U.S.-Iran Relations

Japan

Japanese Defense Minister Shinjiro Koizumi said on a July 17 "Genron TV" internet program interview that although discussing nuclear weapons in Japan is "difficult," Japan "must debate and advance all policies without taboo," The Asahi Shimbun reported on July 20. 

Japan: Defense Minister Calls for Debate on Nuclear Weapons Policy

The world is connected, but even the broadest topics deserve an individual look. Below are our latest and most relevant economics analyses.

Below are our latest and most relevant economics analyses.

Sub-Saharan Africa

Americas

Asia-Pacific

Europe

Eurasia

Middle East and North Africa

South Asia

Beyond Quantitative Easing

The New Silk Road

The Fate of the Eurozone

South America: Split Decisions on Trade

Banking

Commodities: A Cautionary Tale

Social Issues

European Disintegration

Russia's Internal Struggle

China in Transition

A Japanese Awakening

East African Integration

Assessments

France

Spain

Italy

A 20 euro note.

The European Union is likely to advance banking reforms in 2027 that reduce internal barriers to cross-border banking, boosting its financial competitiveness by freeing up funds tied up in savings, but will stop short of significantly greater fiscal and financial risk sharing.

Brussels Seeks To Boost the EU Banking Sector's Competitiveness

Snapshots

Vietnam

A large container ship is seen docked at a port. 

Though interim measures or narrower agreements are plausible, Vietnam's dependence on Chinese inputs will likely prevent a comprehensive agreement, potentially exposing it to stricter U.S. scrutiny and new tariffs.

Vietnam's Reliance on Chinese Imports Complicates U.S. Trade Talks

Argentina

Bolivia

Brazil

Chile

Colombia

Ecuador

Guyana

Peru

Venezuela

Pilgrims with flags from different countries gather at Copacabana beach in Rio de Janeiro, Brazil, on July 23, 2013, as they wait for the official opening of the Catholic Church's World Youth Day, which will be celebrated with a holy Mass. 

As many South American countries embrace right-leaning governments, their policies will increasingly align with those of the U.S. Trump administration, opening them to increased security cooperation, although economic integration remains unlikely.

What South America's Rightward Political Shift Means for U.S. Relations

India

The U.S. and Indian flags adorn the Eisenhower Executive Office Building of the White House in Washington, D.C., on June 20, 2023.

While the ban could prompt the U.S. to lower its proposed Section 301 tariff on India from 12.5% to 10%, unresolved concerns over manufacturing overcapacity will sustain the risk of broader, sector-specific tariffs.

India Imposes Forced Labor Import Ban to Reduce U.S. Tariff Exposure

Media

Podcasts

Which Sub-Saharan countries face the highest risk of protests and unrest in the coming months?

The Decision Advantage: The Outlook for Security in Sub-Saharan Africa

Ukraine

Russia

Cars stand in line for gasoline at a Lukoil gas station on July 8, 2026, outside of Moscow, Russia.

Russia-Ukraine Conflict

Russia will retain the ability to produce and export most of its oil, but sustained Ukrainian strikes will erode its refining capacity, exacerbate domestic fuel shortages and raise the risk of deeper production cuts.

Ukrainian Strikes Deepen Russia's Fuel Refining Crisis

Andy Burnham delivers a speech on June 29, 2026, in Manchester, England. 

As prime minister, Andy Burnham will likely maintain continuity on fiscal, foreign and defense policies within tight budget and market constraints, along with an incremental approach to EU relations.

Previewing Burnham's Premiership in the U.K.

Israel

Lebanon

Myanmar

Philippines

Singapore

Thailand

ASEAN leaders hold hands for a group photo during the opening ceremony of the 48th ASEAN summit in Cebu, central Philippines on May 8, 2026. 

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: U.S.-Iran Tensions Remain High, ASEAN Foreign Ministers Meet With Myanmar

EU flags are displayed in the EU Council headquarters on July 9, 2026, in Brussels, Belgium.

While the European Union is unlikely to adopt the Spanish plan, it could drive an incremental expansion of common borrowing for strategic priorities like defense and industrial competitiveness.


Spain Broaches EU Taboo With Common Debt Proposal

A German flag flutters in front of the Reichstag building in Berlin, Germany. 

Global Trade

The package of reforms aims to revive productivity and lift Europe's largest economy out of its multi-year slump, though the package's limited nature and global trade headwinds will limit the impact in the medium term.


Germany's Labor-Market Reforms Could Lead to Modest Economic Improvements

Journalists surround French far-right National Rally leader Marine Le Pen (center) as she arrives with National Rally president Jordan Bardella (third from right) for a campaign rally in La Fleche, France, on July 8, 2026.

With the launch of Le Pen's campaign, the National Rally appears set to win France's 2027 presidential election, signaling a coming policy shift toward EU confrontation and weaker NATO integration, though various constraints would temper implementation.

As Le Pen Returns to the Race, What Would a Far-Right Presidency Look Like in France?

People pass a large banner depicting U.S. President Donald Trump with a target on his head, during funeral ceremonies for Iran's slain Supreme Leader, Ayatollah Ali Khamenei, at the Grand Mosalla on July 5 in Tehran, Iran. 

Recent tit-for-tat strikes between the United States and Iran signal the rising risk of a return to high-intensity regional conflict following the June 17 memorandum of understanding.


U.S.-Iran Truce at Risk of Collapse Over Hormuz Control Dispute

Economics

SITUATION REPORTS

Azerbaijan, Germany: Strategic Agenda Will Deepen Energy and Transit Ties

Indonesia: Free Meals Cut Highlights Fiscal Tightness, Limits of Spending Agenda

U.K.: New Prime Minister Unveils Cabinet and First Cost-of-Living Measures

Canada, U.S.: White House Announces 50% Tariffs on $20B in Canadian Imports

Taiwan, Papua New Guinea: Taipei Threatens To Stop LNG Purchases Over Trade Office Dispute

Nicaragua: President Says Country Will No Longer Hold Elections

U.S., Iran: Mediators Reportedly Propose Temporary Truce as U.S.-Iran Exchanges Escalate

Japan: Defense Minister Calls for Debate on Nuclear Weapons Policy

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