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Russian cosmonauts pose with a flag of the self-proclaimed Luhansk People's Republic at the International Space Station.
Hard Numbers: Russia quits ISS, Global GDP growth slows, Peruvians sour on Castillo, Lebanon buys wheat
24: After 24 years as a member of the International Space Station — a major step in post-Cold War reconciliation — Russia announced Tuesday it’ll leave the module by the end of 2024. But the US says it didn’t get the memo.
3.2: The IMF now says the world economy will grow only 3.2% this year, 0.4 percentage points less than it predicted in April. Meanwhile, global inflation will rise one percentage point more than expected to 8.3%.
19: Only 19% of Peruvians polled believe President Pedro Castillo is doing a good job one year after his election. He's already survived two impeachment votes, and Congress may try again soon over allegations that he obstructed justice by firing his interior minister.
150 million: Lebanon's parliament voted Tuesday to use a $150 million World Bank loan to buy enough wheat for at least six months. The cash-strapped nation is almost entirely reliant on imports to feed its population, and its food inflation rate was at 332.25% in June.Hard Numbers: GDP wars, WTO rules in Beijing’s favor, Africans support Chinese engagement, China winning 5G battle
5.9: China’s GDP could grow on average 5.9 percent per year until 2025, according to the Center for Economics and Business Research, which predicts that China will overtake the US as the world’s largest economy by the end of the decade. The Chinese economy was worth $18 trillion in 2021, compared to America’s $23 trillion.
645 million: Amid an ongoing trade war between the world’s top two economies, the World Trade Organization ruled last week that Beijing can slap $645 million worth of tariffs on US goods. A decade ago, the US placed tariffs on some Chinese products, including steel pipes and solar panels, saying that Beijing was giving unfair subsidies to state-owned companies.
59: The US has been trying to discredit China’s growing influence in Africa, but it’s not working: 59 percent of Africans view China’s economic and political clout favorably. Almost exactly the same number — 58 percent — feel the same about the US.
90: More than 90 countries have signed up to use 5G networks made by the Chinese telecom giant Huawei. Meanwhile, only eight nations have so far agreed to join the US ban on Huawei. Why? Many analysts say it’s because China offers way superior 5G infrastructure.
India gets biggest GDP downgrade by IMF as coronavirus lockdown bites
NEW DELHI (BLOOMBERG) - The International Monetary Fund's forecast for India's economy swung from expansion to contraction, marking the sharpest downgrade in projections of the world's main economies.