Russia is the world's "most heavily sanctioned" country. More than 30 countries have been a part of these sanctions. Although it has been a year now of intense restrictions since the war on Ukraine, there seems to be little change in the country's economy.
globalEDGE Blog - By Author: Dea Cali
In 2022, electric vehicles will become mainstream - we will see more on the roads daily. 2023 may see a significant increase in the production of these cars, even though 2022 did present lower sales. We saw high-interest rates and market instability in the past year, which impacted electric vehicle sales. The rising cost of batteries and shortages of critical materials also drove electric vehicle sales down.
The Eurozone is seeing a drop in inflation – this comes as a first in 17 months since the war in Ukraine set off record-high energy and food prices. Inflation has been increasing in months prior, even when the U.S. rate was stable for four months after July. With this increase in inflation throughout the bloc, the European Central Bank (ECB) increased its key interest rate "more sharply than at any time in its history."
The U.S. and European Union are working together to place restrictions on Big Tech companies. This limit on Big Tech will make it more difficult for companies to fight the newly established rules. Both sides are working together, trying to cooperate on the rules. The groups working on the rules are working on areas including hate speech and private data access. Also, the teams will work to prevent major online platforms from working against third-party vendors. This legislation is planning to limit the growing power of Big Tech companies. Memos were presented at the U.S. - EU Trade and Technology Council Meeting on September 29. Here, both parties covered the advancement of technology and trade tensions, placing an emphasis on updating the world economic regulations according to today's state of technology.
A sovereign credit rating is a measurement of a country’s creditworthiness. This rating is calculated by an agency that investigates a country’s economic and political environment. The assessment helps investors identify the risk involved in investing within another country.