1. Cautious Rate Cuts in Europe: ECB Deliberates on a Gradual Approach
ECB officials emphasize the need for a cautious approach to rate cuts. While Nagel, Makhlouf, Lane, Holzmann, and Vujcic share varying perspectives, all support gradual action. Lagarde notes that inflation may temporarily rise but avoids committing to a specific roadmap.
2. Weak Oil Market Enables Pressure on Russia
U.S. Treasury Secretary Janet Yellen stated that the weakness in the oil market provides an opportunity for the U.S. to impose further sanctions on Russia’s energy sector, aiming to reduce revenue and increase pressure on Moscow.
3. Elon Musk Hits $400 Billion Net Worth Milestone
Elon Musk becomes the first person to reach a net worth of over $400 billion, thanks to record-high Tesla stock prices and a sharp increase in SpaceX’s valuation.
4. Israel Intensifies Strikes on Syria and Gaza
Israel targeted Syria’s strategic weapons depots and continued military operations in buffer zones. In Gaza, airstrikes have led to 44,805 deaths. The UN General Assembly passed a ceasefire resolution for Gaza, which was opposed by the U.S. and Israel.
5. Bitcoin and Gold Prices Show Positive Growth
Bitcoin currently stands at $101,422.47 (+4.16% in 24 hours), while international gold prices reach $2,708.38 per ounce (+0.53%).
6. China Prepares for a New Trade War
China has developed a strategy to counteract potential trade wars with the U.S. during Donald Trump’s second term, promising stronger retaliatory measures.
7. China’s Manufacturing Sector Maintains Leadership
China is projected to remain the global leader in manufacturing value-added (MVA) until 2030, according to UNIDO data.
8. U.S. Senate Pushes for Tax Reform
Senate Majority Leader John Thune plans to introduce a comprehensive tax reform package before summer, though negotiations are expected to be complex.
9. Vietnam’s Rubber Exports See Value Surge Despite Lower Volume
In the first 11 months of 2024, Vietnam’s rubber exports experienced significant growth in value, despite a 6% drop in volume compared to the same period in 2023. Total export value rose by 17.1%, primarily driven by the average export price of $1,675 per ton, up 24.6% year-on-year. China remains Vietnam’s largest rubber market, contributing significantly to this growth.
Conclusion
December 12 marks key developments ranging from ECB policy deliberations and escalating Israel-Syria-Gaza conflicts to mounting pressure on Russia. Elon Musk’s $400 billion milestone, along with positive trends in Bitcoin and gold prices, highlights a dynamic global landscape. Meanwhile, Vietnam’s rising rubber export values signal notable progress.
