News and Insights

The Regional Comprehensive Economic Partnership (RCEP), which came into force in 2022, marks a major shift in global trade, particularly in Asia. While it strengthens economic ties, its lack of strong digital trade rules reveals a deeper battle over digital governance. Southeast Asia is now the frontline for competing data frameworks: open, Western-style systems vs. China’s state-driven digital sovereignty model.

Pedro Castillo was officially confirmed as Peru’s president after a narrow election victory, despite numerous challenges from rival Keiko Fujimori. His controversial cabinet appointments, particularly Prime Minister Guido Bellido, raised concerns about the government’s direction and links to radical elements. To reassure markets, economist Pedro Francke was named Finance Minister, though investor anxiety remains high.

The COVID-19 pandemic accelerated India’s digital transformation, pushing businesses and citizens to adopt digital tools in areas like finance, education, and healthcare. Initiatives such as Digital India, JAM trinity, and e-NAM have improved financial inclusion and rural connectivity, despite infrastructure and literacy gaps.

India is moving toward a dedicated regulatory framework for medical devices, separating them from outdated drug laws. Triggered by the COVID-19 crisis, the reforms aim to boost local manufacturing, reduce import dependency, and improve safety standards.

South Africa’s early, science-based COVID-19 response helped delay a healthcare crisis, but the lockdown deeply hurt its fragile economy. President Ramaphosa introduced a five-level risk-adjusted strategy to reopen the economy, balancing public health with economic survival.

Myanmar’s ruling NLD party, led by Aung San Suu Kyi, is set to win a second term with a strong majority despite concerns over voter suppression. The election served as a referendum on Suu Kyi’s leadership, which remains popular domestically, especially compared to the military-backed opposition.

The collapse of two mining dams in Brazil—Mariana (2015) and Brumadinho (2019)—exposed Vale’s lack of crisis preparedness, transparency, and stakeholder communication, severely damaging its reputation. Poor risk management, delayed responses, and ignored warnings worsened public perception.

Argentina's election on October 27 is expected to confirm Alberto Fernández's lead over President Macri, largely due to economic failure under Macri’s government. The shift marks a return to Peronism and a likely power transition within the opposition coalition Juntos por el Cambio.

In a surprising shift, Hungary’s opposition won key local elections, including the Budapest mayoralty, breaking Fidesz’s decade-long dominance. Scandals, a weak campaign, and unified opposition helped drive the upset.

South Africa faces challenges like corruption and energy failures, especially with Eskom. Yet, under President Ramaphosa’s leadership, the economy shows resilience, with a push toward renewables and growing foreign investment.

U.S. influence in the Global South is fading, while China faces its own challenges. In today’s “Gzero” world, rising powers like India, Brazil, and Gulf states are reshaping diplomacy. Businesses and governments must adapt to a shifting global order marked by nationalism, trade tensions, and focus on development, climate, and security.