According to The Paper, on July 29th, the UK Prime Minister's Office issued a statement stating that UK Chancellor of the Exchequer Reeves had announced to Parliament the results of a financial review indicating that the UK had gone bankrupt. UK Prime Minister Stamer accused the Conservative Party of causing serious chaos to the economy and public services during their 14 year tenure. But the Conservative Party refutes that the ruling Labour Party is just making excuses to promote tax increases.

A well-known think tank in the UKA large-scale research report released by the Resolution Foundation this year shows that the UK economy has been stagnant for 15 years. Although the UK economy has significant advantages, investment, wages, and economic growth have all performed poorly since the 2008 international financial crisis. According to the previous election manifesto of Stamer and the Labour Party, in terms of economic reform, the Labour Party has promised not to increase the tax rates of income tax, national insurance social security benefits, value-added tax, and corporate tax, which will undoubtedly bring significant pressure to the UK's finances.

According to Bangkok News, on July 27th, the new Speaker of the Thai House of Lords, Mongkhun Surashacha, as well as two Deputy Members of Parliament, Jang Gai Silag and Wonsang Naisupong, were sworn in. Although all the members of parliament are independent, among these three speakers, Meng Kun and Jiang Gai have close ties with the second largest party in the ruling coalition, the conservative "blue faction" Tai Jiong Party. It is reported that Meng Kun, who is about to turn 72 years old, has served as the Director General of the Local Administration Department of the Thai Ministry of Interior, as well as the Governor of Buriram Province in the sphere of influence of the Thai Pride Party. He is also an advisor to the Deputy Minister of Interior of the Thai Pride Party, Songsa.

It is understood that in the Thai political arena,The 'Red Faction' refers to a political party related to the Phet Thai Party and former Prime Minister Thaksin Shinawatra; Those who are related to the main opposition force, the Progressive Party, are the "Orange Faction", while the "Blue Faction" refers to politicians who are related to the Thai Pride Party. With the dominance of the "blue faction" in the upper house of the Thai parliament, the political landscape in Thailand has shifted from the past "red orange" confrontation to a tripartite situation of "red orange blue".

military

01US and Japan upgrade their military commands

According to Kyodo News, on July 28th, the foreign and defense ministers of Japan and the United States held a "Two Plus Two" meeting in Tokyo. The meeting mainly focused on the discussion between Japanese Prime Minister Kishida and US President Biden during their previous visit to the United States to establish a framework that can deepen the new system of military command. According to the published joint document, the US military stationed in Japan will be reorganized into the Joint Forces Command, led by the Commander of the Indo Pacific Command. It will interact with the Joint Operations Command established by the Self Defense Forces this year to deepen cooperation between the United States and Japan.

In addition, this meeting also confirmed the joint response policy between Japan and the United States on the regional situation, including military modernization, defense technology, and other defense cooperation. In terms of joint development and production of defense equipment, Japan and the United States have agreed to seek expansion, includingThe production capacity of land-based interception missiles such as PAC3. Some analysts pointed out that the two countries may try to formulate effective operational plans and conduct joint military exercises by restructuring the military system, taking into account the emergency situations that may occur in Taiwan, China and the Korean Peninsula at any time.

01Vietnam's rice export prices skyrocket

According to statistics from the General Administration of Customs of Vietnam, in the first half of July 2024, Vietnam exported over 290000 tons of rice worth 177 million US dollars, with a year-on-year increase of 15% in quantity and 30% in value. The average export price of rice increased by 12% year-on-year to 612.3 US dollars per ton. The main markets for importing Vietnamese rice are the Philippines, Indonesia, China, Malaysia, Singapore, and Ghana. Based on the current situation, Vietnam's national rice exports are expected to reach over 5 billion US dollars this year.

Foreign companies have stated that compared to other sources of goods, Vietnam has geographical advantages, resulting in lower shipping costs and shorter delivery times. Most importantly, the quality and price of Vietnamese rice are very suitable for market demand and consumer taste. However, India is currently considering relaxing restrictions on rice exports to benefit global buyers. Analysts believe that any decision by India to relax rice export restrictions would help lower benchmark rice prices in Asia. The competitive pressure on Vietnamese rice export enterprises will be greater, in addition to other competitors such as Thailand and Pakistan.