Stay updated with the latest economic news on Dec 6: The French government collapses, Russia and North Korea sign a military pact. Read now on LiveTrade Pro so you don’t miss out!

1. French Government Officially Collapses
The government of President Emmanuel Macron has officially collapsed following protests against policy and internal disagreements within the ruling party. Left-wing parties, including the Republican Parliamentary Alliance and opposition groups, have called for Macron’s resignation due to escalating political and social tensions. Negotiations between parties have shown no sign of reconciliation, worsening the instability.

2. Russia-North Korea Mutual Defense Pact Takes Effect
Russia and North Korea have officially signed a mutual defense pact, marking a turning point in the military relationship between the two nations. The treaty expands defense cooperation and strengthens joint military activities, including training, technology exchange, and weapons development projects. This is a significant move by Russia to consolidate its position and respond to international pressure from the West.

3. Long Thanh Airport Project: Prime Minister’s Ultimatum
During the fifth inspection of the Long Thanh International Airport project, the Prime Minister of Vietnam issued an ultimatum to ensure construction progress is no longer delayed. This is one of Vietnam’s largest infrastructure projects, strategically important for enhancing the country’s international transportation capacity. The Prime Minister stressed that delays would severely impact Vietnam’s economy and international reputation.

4. Vietnam Partners with Nvidia to Establish Two AI Centers
Vietnam has officially partnered with Nvidia to establish two research and development centers for artificial intelligence (AI). This is part of the national strategy to develop the digital economy and promote technological growth. Nvidia will provide advanced AI and cloud computing technologies, while Vietnam will play a key role in human resource development and applying AI in key industries.

5. Nvidia’s CEO Acquires Vietnamese Startup
Jensen Huang, CEO of Nvidia, has acquired Vin Brain, a Vietnamese startup specializing in AI and automation technology. This move aims to expand Nvidia’s presence in Southeast Asia and develop advanced AI technologies. Vin Brain stands out in artificial intelligence and machine learning, with solutions widely applied in industries such as healthcare, finance, and logistics.

6. Baerbock Expelled After Remarks on China
German Foreign Minister Annalena Baerbock was expelled from a Chinese government meeting after making strong criticisms of China’s leadership and foreign policy regarding Russia. Baerbock called for China to adopt a more peaceful approach towards Russia and other international issues. Following her remarks, she and German journalists were asked to leave the conference.

7. China Bans Key Exports to the U.S.
In a retaliatory trade move, China has decided to ban the export of certain critical raw materials used in chip production to the United States. This is part of escalating trade tensions between the world’s two largest economies. The banned materials include rare earth elements and other compounds essential for semiconductor manufacturing, severely affecting the U.S. tech industry.

8. $16 Billion Plant Operates to Revive “Dead” River
A plant worth over $16 billion has been put into operation in Vietnam, aiming to revive “dead” rivers that have been polluted and stagnant. This project not only improves the living environment but also strengthens resilience to climate change. The plant will treat wastewater, restore ecosystems, and improve water quality, contributing to the protection of the nation’s water resources.

9. Economy: Gold and Bitcoin Prices Drop in Early Trading on Dec 6, 2024

• Gold: International gold (XAU) fell 1.06% in the last 24 hours to $2,624.34 per ounce. The decline was mainly due to global financial market fluctuations and central banks’ interest rate policy expectations.
• Bitcoin: Bitcoin dropped 1.41% to $97,616 after reaching a record high of $103,649 on Dec 5. The decline was due to profit-taking by investors after Bitcoin’s all-time high.

10. Russia Warns of Stronger Military Measures Amid Kherson Tensions
Russia has warned of deploying stronger military measures if the U.S. and its allies do not respect Moscow’s limits in the Ukraine conflict. Russian forces are currently attacking in Kherson and have mobilized a fleet of up to 300 boats to cross the Dnipro River in an effort to reclaim strategic positions in the region. Russia also warned Japan against supplying weapons to Ukraine, calling it a hostile act.

11. Germany and U.S.: No Troops to Ukraine
German Chancellor Olaf Scholz has affirmed that Germany has no plans to deploy troops to Ukraine, contrary to proposals from conservative advisors in the U.S. Meanwhile, advisors to U.S. President Donald Trump have proposed a plan for Ukraine to cede territory to Russia and abandon its ambition to join NATO as a resolution to the conflict.

Conclusion
In conclusion, the latest economic news on Dec 6 reflects major events impacting the global economy. The collapse of the French government and military cooperation between Russia and North Korea are notable highlights, not only in the political sphere but also with significant economic implications for the world.