Global Economic Monitor 220803

(Introduction)

[Markets]

•   Global: Wall Street dips, dollar gains on economic, geopolitical concerns

※   Flight to safety boosts dollar

※   Crude up slightly ahead of OPEC+ meeting

※   Pelosi Taiwan visit fuels geopolitical tensions

※   Report hints at easing U.S. jobs market

•   Japan: Yen Recovery Cut Short After Biggest Four-Day Advance Since 2020

•   Natural gas: European Gas Extends Gains With Russia Risk and Demand in Focus

•   Metals: Copper falls as U.S.-China tension pushes investors to safer assets

•   Grains: Wheat at 1-week low as Ukraine shipments resume; corn, soy ease

•   한국: 미중 갈등 확대 우려에 코스피 0.52% 하락…2,430대 후퇴

•   한국: 엔화당 원화값 두 달만에 장중 1000원 밑으로

[Indicators]

•   US Q2 Household debt: US Household Debt Surpasses $16 Trillion on Higher Mortgages

•   US Jun. Job openings: Demand for Workers Fell in June to Lowest Level in Nine Months

•   UK Jul. House prices: UK house prices rise at 11% annual rate despite cost of living crisis

•   China Jul. Caixin New economy index: Caixin’s New Economy Index Rises on Capital Investment Growth

•   India Jul. Balance of trade: Asia’s Top Diesel Exporter Cuts Tariffs as Trade Gap Swells

•   India Jul. Employment: India's unemployment lowest in six months at 6.80% in July: CMIE

•   한국 상반기 부산항 컨테이너 물동량: 부산항 상반기 '컨' 물동량 2.1% 줄어…목표 달성 빨간불

•   한국 7월 CPI: 7월 물가 또 최고치, 상승 속도는 줄어…가을 오면 정점 찍나

※   매경: 오이 73%·배추 72% '껑충'…불붙은 식탁물가 추석이 고비

•   한국 7월 외환보유액: 7월말 외환보유액 4천386억달러…5개월 만에 증가

•   한국 7월 건설기업 경기실사지수: 7월 건설 체감경기 소폭 회복에도 ”여전히 부진 전망”

[News]

•   WSJ: Nancy Pelosi Arrives in Taiwan as China Warns of Disastrous Consequences

※   House speaker to meet island’s leader Wednesday; Beijing responds with a military show of force

•   WSJ: Afghanistan Strike, Pelosi Visit to Taiwan Put Foreign Policy Back on Center Stage for Biden

•   WSJ: Fed Officials Signal Additional Rate Rises Warranted to Slow Economy

※   ‘Interest rates are higher, but they’re not necessarily tight,’ Chicago Fed President Charles Evans says

•   WSJ: Biden Names Monkeypox Czar Amid Criticism of Federal Response

•   WSJ: Russia Shells Apartment Buildings in Southern Ukraine

•   WSJ: Ukraine Scrambles to Shift Its Grain Before Storage Runs Out

•   WSJ: OPEC+ Considers Modest Oil-Production Increase, Output Freeze, Say Delegates

※   Alliance meets Wednesday to decide on production plan for September

•   WSJ: Monkeypox Patients Report Excruciating Pain and Lack of Guidance as U.S. Cases Mount

•   WSJ: Low-Income Nations Turn to Risky Bank Loans

•   WSJ: Brazil’s Surprising Economy Might Mean More Rate Hikes After Wednesday

•   WSJ: Europe’s Coal-Buying Frenzy Means Windfall for Producers

•   WSJ: Robinhood Lays Off 23% of Staff

•   WSJ: SoftBank Emerges as a Big Loser of the Tech Downturn. Again.

•   WSJ: Caterpillar Second-Quarter Sales Rise With Higher Prices for Machinery

•   WSJ: Chip Maker AMD Prospers as Rival Intel Struggles

•   WSJ: Uber Revenue Doubles, Sending Shares Surging

•   NYT: Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible

•   NYT: How the New Climate Bill Would Reduce Emissions

•   NYT: The Crypto Market Crashed. They’re Still Buying Bitcoin.

•   FT: US imposes sanctions on Putin’s reputed girlfriend and other Russian elites

•   FT: European imports of Russian diesel jump, highlighting challenge to EU plans for ban

•   FT: Eurozone mortgage rate rises threaten house price growth

•   FT: Draghi factor set to weigh on Italy’s snap elections

•   FT: Investors ‘relaxed’ on Tory leadership rivals’ economic plans

•   FT: British household energy bills to be at ‘devastating’ levels until ‘at least 2024’

•   FT: The Taliban’s new order: ‘We’ll introduce a system for the world’

•   FT: South Africa hopes private sector can help end Eskom power crisis

•   FT: North Korea’s Covid crusade sheds light on Kim Jong Un’s propaganda strategy

•   FT: BP has no plans for fuel price cuts for motorists despite surging profits

•   FT: Maersk raises profit forecasts for third time this year as supply chain hit persists

•   FT: Shale patch pioneer Chesapeake to ditch oil in favour of natural gas

•   Bloomberg: China Slaps Export Ban on 100 Taiwan Brands Before Pelosi Visit

•   Bloomberg: This Is How China Could Hit Back Over Pelosi’s Taiwan Visit

•   Bloomberg: Taiwan Tensions Raise Risks in One of Busiest Shipping Lanes

•   Bloomberg: Pelosi’s Taiwan Trip Spurs Chinese Battery Giant to Pause Plant Debut

•   Bloomberg: Biden Team Defends China Tariffs Amid Debate to Trim Some Duties

•   Bloomberg: Food Inflation Is Rampant Around the World

•   Bloomberg: Goldman Warns Against Being ‘Too Early’ in Fading Recession Risk

•   Bloomberg: Pozsar Says L-Shaped Recession Is Needed to Conquer Inflation

•   Bloomberg: US Agrees to $3 Billion Saudi Missile Sale After Biden Visit

•   Bloomberg: Yellen Wades Into Debate Over Tax Hit From Compromise Bill

•   Bloomberg: ECB Spent Billions to Shield Italy Using First Line of Defense

•   Bloomberg: German Labor Shortages Menace Half of Companies Across Economy

•   Bloomberg: Exodus of Young Germans From Family Nest Is Getting Ever Bigger

•   Bloomberg: Putin, Erdogan to Discuss Ukraine, Grain on Friday, Kremlin Says

•   Bloomberg: Russia’s Nuclear Power Swagger Unruffled by War as Summit Nears

•   Bloomberg: Chinese Leaders Say GDP Goal Is Guidance, Not a Hard Target

•   Bloomberg: China’s Covid Outbreak Stabilizes as Shanghai Cases Hold at Zero

•   Bloomberg: China’s Property Crisis Threatens to Drag Down Steel Industry

•   Bloomberg: India Planning Carbon Credit Market for Energy, Steel and Cement

•   Bloomberg: Japan Learns to Live With Covid as Locals Flock to Travel Spots

•   Bloomberg: Argentina Is Running Out of Cash to Stave Off Devaluation

•   Bloomberg: Alibaba and Tencent Face End of an Era as Sales Start to Shrink

•   Bloomberg: Climate Bill Would Put US Back in Global Race for EV Leadership

•   Reuters: Russia accuses U.S. of direct Ukraine war role, grain ship anchors off Turkish coast

•   Reuters: G7 mulls options to restrict Russian oil profits

•   Reuters: Zawahiri strike gives Biden counter-terrorism strategy boost, but concerns persist

•   Reuters: Biden continues to test positive for COVID, his doctor says

•   Reuters: Fossil fuel side deal for U.S. climate bill slammed by green groups

•   Reuters: Automakers press U.S. Senator Manchin for changes to EV tax credit proposal

•   Reuters: Analysis: U.S. banks face trillion-dollar reverse repo headache

•   Reuters: Analysis: Crisis in Iraq tests its stability and Iran's sway

•   CNBC: Russia faces ‘economic oblivion’ despite claims of short-term resilience, economists say

•   CNBC: ‘Dirty ol’ coal’ is making a comeback and consumption is expected to return to 2013′s record levels

•   CNBC: After the CHIPS Act: U.S. still has a long road ahead to rival Asia in semiconductor manufacturing

•   CNBC: Apple chipmaker TSMC warns Taiwan-China war would make everybody losers

•   MarketWatch: Financial markets may see a 3-month string of 8.8% inflation readings starting next week, adding up to `bad news’

•   Fox Business: Manchin-Schumer bill would reinstate tax on imported oil and petroleum products

•   SCMP: China’s property market slump and weak demand highlight fragile economic recovery

•   Nikkei Asia: LNG price spike causes energy crises in strapped Asian nations

•   Nikkei Asia: Japan LDP members face pressure over Unification Church ties

•   Nikkei Asia: Japan plans green transition road map for emissions-heavy industries

•   Nikkei Asia: Chip industry supplier Showa Denko to boost output of wafer polishing agent

•   Nikkei Asia: SoftBank-backed Chinese robot maker to build plant in Toyota's backyard

•   Nikkei Asia: Defying death: Japan and Singapore lead Asia's stem cell research race

•   매경(P1): 부산·울산까지…지방소멸 덮쳤다

•   매경: 특정산업 쏠림 심한 지방도시…업황 나빠지자 인구 '썰물'

•   매경: 인구분석 넘어 6개 경제지표 첫 반영

•   매경: 서울은 일자리 많아도…주거비에 발목 잡혀 인구 줄어

•   매경(P1): 車 배터리 점유율, 한국 10%P 줄 때 중국이 다 가져가

•   매경: 전세계 車배터리 압도하는 中…韓안방도 위협

•   매경: 물가 급등에 놀란 국회…유류세 인하·밥값 지원법 처리

•   매경: 반도체 용수 중단 '몽니' 막으려…여주시 달려간 산업부

•   매경: 대기업 계열사 사업확장…운송·헬스케어로 몰렸네

※   공정위: 대기업집단 계열회사 변동 현황 공개

•   매경: 탄소중립시대 맞아?…정유4社, 휘발유 생산·수출 최대

•   매경: SK하이닉스, 비메모리 생산 키파운드리 인수절차 완료

•   매경: AI속기사, 이젠 경찰조사때 대신 받아쓴다

•   매경: 3D지도·로봇개로 건설현장 사고 막는다

•   매경: 삼바 "mRNA백신 원료 생산 성공"…완제 이어 일괄제조 갖춰

•   매경: "의외의 선방" 상장사 절반이 깜짝실적…하반기는 불안불안

•   매경: 중개업소 58% "하반기 집값 떨어질 것"

•   한경(P1): 인플레 시대, 가격 결정력이 실적 갈랐다

•   한경: "SK·대한항공·대덕전자 등 깜짝 실적 기대"

•   한경: 가격 올린 車·2차전지 '웃고'…원자재값에 치인 건설·화학 '울상'

•   한경: 테슬라·LVMH·코카콜라…탄탄한 수요 앞세워 '고공비행'

•   한경(P1): 美·中 '반도체 전쟁'…고래싸움에 등 터지는 삼성·SK

•   한경: 서울대도 미달인데…반도체 석·박사 정원 늘려준다고?

•   한경: 4일 첫 규제심판회의…1호 안건은 '대형마트 영업규제 개선'

•   한경: "오늘하루 無지출"…"노트북도 떨이제품 구매"

•   한경: 全직원 20% 한 번에 뽑는 K배터리·방산기업

•   한경: 레벨4 자율주행 치고나간 中…한국은 "5년 뒤 상용화" 뒷짐

•   한경: 미계약분 '줍줍' 열풍은 옛말…11번 청약공고 단지도

•   서경(P1): [단독] 수출 중기의 몰락…3년새 2270곳 사라졌다

•   서경: 中 봉쇄 이어 보복 이중덫…수출 중기 "세관에 발묶여 매출 70% 날아가"

•   서경: 날개 꺾인 中企…수출비중 17.2%로 추락

•   서경(P1): 대기업 반도체 투자도 稅공제 20%로 확대

•   서경: 365조' 美반도체법에 자극받은 與……稅공제기간도 2030년으로 늘렸다

•   서경(P1): [단독] 국민연금 '주주대표 소송' 불씨 살아나나

•   서경: 장관에 이사장까지 공석…내달 기금위 논의 '공회전' 불보듯

•   서경(P1): '건보 재정지원' 못박는 국회…2030년 30조까지 불어난다

•   서경: 文케어부터 이재명 '탈모 보장'까지…'空약' 먹잇감 된 건보 재정

•   서경: 노인장기요양보험 매년 지출 20% 급증…건보 속 '숨은 복병'

•   서경: 허울뿐인 건정심…"건보 외부통제 장치 마련해야"

•   서경(P1): 정부 손 놓은 새…우윳값 기습 인상

•   서경: 유가공업계 "인건비·기름값이라도 반영해야"…'밀크플레이션' 덮치나

•   서경: [단독]삼성전자, 신설 신사업TF 총괄에 정성택 영입…M&A 속도내나

•   서경: [시그널] 메리츠증권發 '전환사채 물량폭탄' 쏟아지나

•   서경: 영끌 할 사람 다했나…2030 아파트 매수 비중 역대 최저

•   조선: “중국의 대만 침략 현실화땐 전세계 3400조원 경제 손실”

•   조선비즈: 한은 금통위원 전원 “인플레 기대심리 꺾기 위한 빅스텝”…추가 인상 시사

※   한국은행: 금융통화위원회 의사록(2022년도 제13차)(2022.7.13)

•   조선비즈: 하반기 통화정책 최대 변수는 ‘기후변화’…태풍發 ‘10월 빅스텝’ 가능성은?

•   조선비즈: “삼성·SK 잡아라” D램 개발 속도 내는 대만 난야… 10나노 생산 2배 늘린다

•   조선비즈: 얼어붙은 부동산 향방은… 전문가 “하락 아닌 조정장. 연말까지는 내린다”

•   인베스트조선: '냉각기' 회사채 시장, 이젠 대기업 보증도 안 통한다

•   중앙: 놀이문화가 변했다…거리두기 풀려도 풀죽은 노래방·PC방

•   중앙: 강남선 3억 낮춰도 전세 안나간다…새 아파트 덮친 '입주난'

•   중앙: 합치고, 쪼개고, 팔고…재계는 지금 사업 재편 중

•   동아: “中企선 유급휴가 어려워… 확진돼도 그냥 출근” 자율방역 역설

•   동아: “기후대응기금 걷어 공공건물 리모델링에 쓰는 한국”

•   문화(P1): “북핵 CVID에 전념할 것”… 美·英·佛 NPT 공동성명

•   문화: 임피제 도입 中企, 대기업 절반 안돼

•   세계: 반도체난 완화 조짐에도… 신차 주문하면 2024년 출고? [FACT IN 뉴스]

•   머니투데이(P1): [단독]"尹정부와 文정부는 다르다"...공정위 지주회사과 폐지

•   머니투데이(P1): 현대 '수소트럭' 엑시언트, 유럽 최대 상용차 시장 '독일' 뚫었다

•   머니투데이: 40대 직장인 "퇴직연금 다 넣었다"…4% 넘는 수익 '오픈런'까지 등장

•   머니투데이: 대기업도 은행 문 '똑똑'…매월 불어난 기업대출, 양날의 검?

•   머니투데이: "회식 자제가 사내 복지"…삼성 나서자 MZ직장인 '반색'

•   파이낸셜뉴스: 가전·전자기기 안팔린다… 쌓이는 재고에 기업들 투자 재검토 [짙어진 '불황의 그늘']

•   파이낸셜뉴스: 적자 줄인 조선 빅3, 실적 정상화 시동

•   파이낸셜뉴스: 원자재값 인상에 연식변경까지… 하반기 車가격 더 오른다

•   파이낸셜뉴스: K배터리 ‘中 아성’ LFP 개발 뛰어들었다

•   아시아경제: [단독]원전수출국, 국정과제 최종본서 빠졌다

•   이데일리(P1): [단독]'완판 때까지 무한 반복'…무순위 청약제 손본다

•   이데일리: [단독]"미계약·미분양 증가로 주택시장 위축 우려 커"

•   이데일리: 계획보다 늦어진 공매도 재개…전면 재개는 언제쯤

•   연합: 오늘 신규확진 12만명 안팎…누적 확진자 2천만명 넘었다

•   연합: SK하이닉스, 세계 최고층 238단 낸드 개발…"내년 상반기 양산"

•   연합: 국내 500대 기업, 상반기 직원 수 증가…순고용 1만2천여명

•   연합: 라이더·특고·인턴 통계 나온다…통계청, 고용통계 전면 개편

•   연합: "코로나19, 취약계층에 더 타격…저소득층 직장 유지율 8.4%p↓"

•   전자신문: 산업硏 "수도권·비수도권 격차, 규제혁신과 여러 도시 연계협력으로 풀어야"

•   전자신문: 대기업, 충전사업 내재화 속도…M&A 거품 빠진다

[Opinions]

•   Project Syndicate(Raghuram G. Rajan): The Post-Inflation Economy That Could Be

•   Project Syndicate(Andrew Sheng, Xiao Geng): The G20 in an Age of War

•   Project Syndicate(Hans-Werner Sinn): The End of the EU’s Free Lunch

•   Project Syndicate(Simon Johnson): Russia’s Looming Defeat in Ukraine

•   Project Syndicate(Jason Furman): America’s Wage-Price Persistence Must Be Stopped

•   Project Syndicate(Minxin Pei): The Coming Taiwan Crisis

•   FT(Katie Martin): What market optimism misses

•   FT(Tabby Kinder): Crunch looms in China-US wrangle over delistings

•   FT(Nicolaes Tollenaar): The future of stablecoins is commercial bank money

•   FT(Tom Mitchell): Xi misses his chance to dismiss Pelosi’s trip as feeble grandstanding

•   FT(Oleg Churiy): Ukraine needs more western support and smarter economic policies to win the war

•   FT(Alan Beattie): The US ‘friendshoring’ experiment risks making enemies

•   FT(Lex): Taiwan/Pelosi: push to pick US or China leaves TSMC in dire straits

•   WSJ(Editorial Board): Nancy Pelosi’s Taiwan Straits

•   WSJ(Walter Russell Mead): From Global Pandemic to Pandemonium

•   WSJ(Jake Auchincloss, Stephanie Murphy): Free Trade Can Fight Inflation

•   WSJ(Phil Gramm, Mike Solon): Lessons From the Great Inflation of 1973-81

•   NYT(Paul Krugman): Can Inflation Reduction Save the Planet?

•   NYT(Thomas L. Friedman): Why Pelosi’s Visit to Taiwan Is Utterly Reckless

•   WP(Nancy Pelosi): Why I’m leading a congressional delegation to Taiwan

•   WP(Max Boot): Biden might be the Democrats’ worst possible nominee (except for all the others)

•   WP(Henry Olsen): Please, Tories. Don’t fall for the supply-side snake oil.

•   WP(Jennifer Rubin): Inflation is the least significant aspect of the Inflation Reduction Act

•   WP(Josh Rogin): The real crisis over Taiwan will start after Pelosi comes home

•   Bloomberg(Daniel Moss): Let’s Not Mince Words While the Global Economy Heads South

•   Bloomberg(David Fickling): China’s Housing Bust Goes Beyond Steel: Elements by David Fickling

•   Bloomberg(Tyler Cowen): Democrats' Climate Bill Is a Clean Energy Dream. That's Not Enough.

•   Bloomberg(John Authers): Assume That the Bottom for US Equities Isn't Yet In, Despite the July Rally

•   Bloomberg(Anjani Trivedi): Billions of Dollars in Deals Can’t Smooth the US EV Supply Chain

•   Bloomberg(Hal Brands): Ukraine's Coming Attack Will Win or Lose the War Against Russia

•   Bloomberg(Stephen L. Carter): Are We in a Recession? Don't Ask Wikipedia

•   Bloomberg(Minxin Pei): Pelosi’s Taiwan Trip Is Only the Start of US Headaches

•   MarketWatch(Houze Song): The solution to China's giant mortgage crisis is obvious -- except to Beijing

•   Reuters(Andy Home): China steps up copper imports despite renewed slowdown

Global Economic Monitor 220802

(Introduction)

[Markets]

•   Global: U.S. stocks slip, crude slides as soft data feed recession jitters

※   ISM PMI shows U.S. factory activity slowed in July

※   Crude plummets on demand worries

※   Energy, demand worries pull European stocks into the red

※   Dollar touches 6-week low vs yen

•   Europe: Europe’s Credit Fear Gauge Sees Biggest Monthly Drop Since 2019

•   Metals: Copper hits 4-week high but factory slowdown points to weak demand

•   Grains: Wheat, corn down as first grain shipment leaves Ukraine; soy down 4%

•   한국: 코스피, 외인·개인 매수에 보합권 마감…2,450선 지켜

[Indicators]

•   Europe·Asia Jul. Manufacturing PMI: World Factory Outlook Darkens With Weakening From Europe to Asia

•   OPEC Jul. Oil output: OPEC oil output rises in July despite outages - survey

•   US Jun. Construction spending: U.S. construction spending dives in June on single-family housing weakness

•   US Jul. Manufacturing PMI(ISM): U.S. Factory Growth Slowed in July on Decline in Orders

※   WSJ: U.S. Factories Are Far From Recession

•   Eurozone Jun. Employment: Euro zone unemployment flat at 6.6% in June as expected

•   Germany Jun. Retail sales: German retail sales fall by largest rate on record

•   China Jul. Home sales: China’s Home Sales Slump Further During Mortgage Boycotts

•   China Jul. Manufacturing PMI(Caixin): China's July factory activity grows at slower pace - Caixin PMI

•   India Jul. Manufacturing PMI: India's manufacturing PMI at 8-month high as easing price pressures lift demand

•   India Jul. GST collections: July GST revenue at ₹1.48 lk cr; up 28% YoY and second-highest since rollout

•   Brazil Jul. Balance of trade: Brazil posts $5.4 bln trade surplus in July, lower than expected

•   Indonesia Jul. CPI: Indonesia inflation jumps to 7-year high, c.bank unfazed

•   Saudi Arabia Jul. Crude exports: Saudi Crude Exports Jump to Highest in More Than Two Years

•   한국 6월 온라인 쇼핑: 늘어난 외부활동…6월 여행·레저 온라인쇼핑 ‘껑충’

•   한국 7월 무역수지: 7월 무역적자 46억7천만달러…넉달연속 적자 금융위기후 14년만

※   매경: 뛰는 에너지값에 속수무책…올해 무역적자 사상최악

※   매경: 고물가·고환율·고금리 속 韓경제 25년만에 쌍둥이 적자 위기

※   매경: 대중무역 휘청…반도체 나홀로 선방

※   한경: 中 빈자리 메우는 美·아세안·인도…바뀌는 수출 지형도

•   한국 7월 전력수요: 7월 전력수요 역대최고치...9년만에 비상경보 가능성

•   한국 7월 은행 정기예금 잔액: '돈 몰려온다'…5대銀 정기예금 700조 돌파

•   한국 7월 자동차 판매: 완성차 판매 5개월만에 반등 ‘기지개’

•   한국 8월 철근 가격: 철근價 3개월 연속 하락, 1년 치 상승분 모두 반납

[News]

•   WSJ: Nancy Pelosi to Visit Taiwan Despite Warnings From China

※   U.S. House speaker plans meetings with Taipei officials, raising prospect of increased tensions with Beijing

•   WSJ: Ukraine Grain Shipment Departs for First Time Since Russian Invasion

※   Ship leaves port of Odessa following deal aimed at easing the global food crisis

•   WSJ: Russia Redeploys Troops in Ukraine as Focus of Conflict Turns South

•   WSJ: From Pizzerias to Tech Startups, Ukrainian Refugees Trickle Into Europe’s Labor Market

•   WSJ: Manchin Touts Democrats’ Climate and Tax Bill, Which Draws GOP Criticism

•   WSJ: Dollar-Store Dinners and Vats of Shampoo Help Families Cope With Inflation

•   WSJ: Renters Finally See Market Starting to Cool After Record Growth

•   WSJ: Beijing Bets the House on Infrastructure

•   WSJ: Investors Fear Stock-Market Rally Will Be Short-Lived

•   WSJ: Market Mayhem Triggers Deal-Making Drought

•   WSJ: Nikola to Buy Battery Maker Romeo Power for $144 Million

•   WSJ: Inflation Is Everywhere—Even in TV Commercials

•   WSJ: Power Companies Enter Peak Hurricane Season Lacking Enough Transformers

•   WSJ: Self-Driving Truck Accident Draws Attention to Safety at TuSimple

•   NYT: Using Nuclear Reactors for Cover, Russians Lob Rockets at Ukrainians

•   NYT: U.S. will send another $550 million in arms to Ukraine.

•   NYT: Vast New Study Shows a Key to Reducing Poverty: More Friendships Between Rich and Poor

•   NYT: U.S. Drone Strike Said to Have Killed Ayman al-Zawahri, Top Qaeda Leader

•   NYT: ‘One miscalculation away from nuclear annihilation’: The U.N. chief issues a grim warning, citing war.

•   NYT: War, Climate Change, Energy Costs: How the Wheat Market Has Been Upended

•   NYT: What Remote Work Debate? They’ve Been Back at the Office for a While.

•   WP: Biden covid case highlights confusing CDC guidance on ending isolation

•   WP: Government workers feel inflation’s pinch as wages lag

•   FT: Bank of England considers biggest rate rise for more than 25 years

•   FT: Chipmakers battle for slice of US government support

•   FT: Wave of corporate exits sends chill through Chicago

•   FT: India could surpass China as world’s biggest minerals buyer, says economist

•   FT: Venture capital’s silent crash: when the tech boom met reality

•   FT: Alibaba to ‘strive’ to keep New York listing despite addition to SEC watchlist

•   Bloomberg: Here’s What the Six Key Official Indicators of US Recession Show

•   Bloomberg: Is the US Economy in Recession? Here Are Eight Offbeat Indicators to Watch

•   Bloomberg: Summers, Blanchard Say Waller’s ‘Soft-Landing’ Paper Has Errors

•   Bloomberg: There’s a New Way to See When the Economy Is Going Off the Rails

•   Bloomberg: Share of Consumers Spending More Than They Earn Rises on Inflation

•   Bloomberg: US Treasury Lifts Quarterly Borrowing Estimate to $444 Billion

•   Bloomberg: Democrats’ Oil Import Tax Would Violate Biden Pledge, Group Says

•   Bloomberg: Russia’s Slump in Oil Exports Abates, Moscow’s Revenues Go Up

•   Bloomberg: How the EU Will Allow a Slight Increase in Russian Oil Exports

•   Bloomberg: Germany Heading to Gas Emergency With Russia Keeping Nord Stream Flows Reduced

•   Bloomberg: Germany Has Three Months to Save Itself From a Winter Gas Crisis

•   Bloomberg: German Nuclear Plants Could Run Through Winter, Lobby Group Says

•   Bloomberg: ECB Says Oil-Price Hike to Cut Euro-Area Output by Just 0.8%

※   ECB: Economic Bulletin Issue 4, 2022

•   Bloomberg: Most Euro-Zone Consumers Didn’t Actually Save More in Pandemic

•   Bloomberg: China’s PBOC Pledges Stable Financing for Property Sector

•   Bloomberg: Shenzhen Ends Factory Bubbles for Firms: China Lockdown Tracker

•   Bloomberg: China’s Economy Deteriorated Further in July, Beige Book Says

•   Bloomberg: China’s Huge Trade Surplus Counteracts Outflow Pressure from Fed

•   Bloomberg: Iran Lawmaker Says Nuclear Talks Likely to Resume in Days

•   Bloomberg: US Sanctions Companies It Says Help to Transport Iranian Oil

•   Bloomberg: India Trying to Ease Inflation Below 7%, Finance Minister Says

•   Bloomberg: Argentina’s New Economy Minister Readies Plan to Boost Dollar Revenue

•   Bloomberg: Chaos in Bond Market Is Dangerous Side Effect of Inflation Fight

•   Bloomberg: ‘Problem Child’ 20-Year Bond in Focus for Treasury-Auction Plan

•   Bloomberg: Bitcoiners Are Trying to Redefine the Word 'Inflation'

•   Bloomberg: Gazprom Daily Output Hit Multiyear Low in July on Export Slump

•   Bloomberg: OPEC+ to Reveal Whether Biden Succeeds in Quest for More Oil

•   Bloomberg: Soaring US Diesel Exports Underscore Global Fuel Vulnerability

•   Bloomberg: EU Gas Unity Tested as Italy Drops Regional Benchmark From Bills

•   Bloomberg: Global Firms Halt Over $250 Billion in Financing Plans This Year

•   Bloomberg: Tesla Inks Battery Materials Deals With Two Chinese Suppliers

•   Reuters: Russia puzzled by Biden proposal to replace nuclear arms treaty

•   Reuters: U.S. considers crackdown on memory chip makers in China

•   Reuters: Russian central bank says economic downturn to deepen in Q3

•   Reuters: Myanmar junta extends emergency rule, cites need for stability

•   Reuters: EXCLUSIVE Siemens Gamesa weighs around 2,500 job cuts - sources

•   Reuters: Exclusive: Big Tech should share Europe network costs, France, Italy and Spain say

•   Reuters: ANALYSIS-Fuel crisis cuts electricity in Bangladesh, sparking energy debate

•   AP: Bumps, bipartisanship in long fight for semiconductor bill

•   CNBC: Biden administration faces midnight court deadline to defend $350 billion of Trump’s China tariffs

•   CNBC: 3 charts show Europe’s unprecedented natural gas crisis

•   CNBC: Fed officials are pushing back against the market rally, and recession talk

•   MarketWatch: Will the stock-market rally turn into a selloff? This bond-market gauge could tip investors off

•   SCMP: Massive RCEP trade deal fails in areas where smaller bilateral pacts in Asia-Pacific shine

•   SCMP: Thousands of Shanghai’s small businesses struggle to survive as virus curbs remain a stumbling block

•   SCMP: China’s foreign businesses adapt by looking inward for talent as zero-Covid keeps expats away

•   SCMP: China releases plan to guide carbon-intensive industries to reach peak emissions by 2030

•   Nikkei Asia: Chip crunch eases for phones and PCs, but not for cars

•   Nikkei Asia: Russian sanctions threaten to make coal dirtier, more costly

•   Mainichi: Japan gov't panel agrees on another record minimum-wage hike plan

•   매경(P1): [알립니다] 세계지식포럼이 던진 화두, 미래흐름 5년 먼저 읽었다

•   매경: 기후변화·AI 전문가 대거 참석…공동번영 위해 머리 맞댄다

•   매경(P1): 원희룡 "투기과열지구 추가해제"

•   매경: 빼빼로 튀겼던 식용유, 이제 내차에 주유한다

•   매경: 韓배터리 3社, 북미 넘어 유럽으로 진격

•   매경: SK하이닉스, 고사양 CXL 메모리 샘플개발

•   매경: "8월에도 베어마켓 랠리…코스피 최고 2600 전망"

•   매경: 방산 떼고 건설 품는 한화, 3세 승계 작업도 속도낸다

•   한경(P1): 한국 최저임금 일본 넘었다…내년 韓 9620원 vs 日 9509원

•   한경(P1): [단독] 삼성전자, 2030년 '무인공장' 도입한다

•   한경: 자동차에 앤디 워홀 그림 그리는 로봇까지…세계는 무인자동화 열풍

•   한경(P1): 글로벌 바이오社·투자 빨아들이는 보스턴

•   한경: "연봉 3000만원 직장인, 소득세 27% 감면"

•   한경: 부부 공동명의 1주택, 18억 이하 땐 종부세 안 내

•   한경: 2024년 대학 입학인원, 40만명선도 붕괴…기업 인력난 심해진다

•   한경: '국민 재테크 상품' 홍보했지만…예금에도 못미친 뉴딜펀드 수익률

•   한경: 현대차의 미래 스마트시티…"모빌리티로 하늘과 땅 연결"

•   한경: "중국은 못 도와줘" 미국 '초강수'…한국 기업들 웃는다

•   한경: 경기침체냐, 아니냐…쓰레기 배출량·구리값으로도 알 수 있죠

•   서경(P1): [단독] 내년 예산 증가율 文정부 절반<5% 중반 이하>으로…'재정중독' 마침표

•   서경: 이대로면 3년뒤 나랏빚 1400兆…지출 마지노선 5%대로 묶는다

•   서경: 전세계 106개국 도입했는데…국회 넘기 힘든 '재정준칙'

•   서경: 건전재정 '대선 청구서'에 발목 잡히나

•   서경(P1): 서학개미, 3년만에 美주식 순매도

•   서경(P1): [단독] 녹물 설움 끝나나…여의도, 첫 정비구역 임박

•   서경: "투자도 철수도 쉽지않네"…기업들 '脫중국 딜레마'

•   서경: 저가 공세에 中 글로벌 점유율 60%…니로 EV도 '중국산 배터리' 장착

•   서경: CATL, 멕시코 공장 건설에 6.5조 베팅…해외 생산기지 늘려 '안방 호랑이' 탈피

•   서경: "美물가 연말에도 7% 안팎…연준, 연내 3번 모두 금리 올릴것"

•   서경: "美 기준금리 정점, 내년초 연 3.75~4% 예상"

•   서경: 철강 열연 가격 두달새 20% 급락…정유 정제마진은 ‘연중최저’

•   서경: “수소 R&D 선도” 에쓰오일, FCI와 연료전지 연구개발

•   서경: "우리 공장에도 AI 도입하자"…LGU+, 구독형 스마트팩토리 상품 출시

•   서경: 시멘트업체 줄줄이 값 올리나 …삼표 "내달부터 11.7% 인상" 통보

•   조선(P1): [NOW] 詩 쓰는 AI 작가, 대학로 무대 진출

•   조선(P1): 여기는 실리콘밸리? 독산동 스타트업입니다

•   조선: 정부법안 절반 국회에 막혀… “공무원 자부심? 그건 옛말”

•   조선: 5년간 13만 늘었는데 민노총 산하 전공노는 “공무원 더 채용해야”

•   조선: 차관보 연봉 1억2000만원… 9급 월급은 최저임금 근로자보다 33만원 많아

•   조선: 전기차, 배터리 값은 빼고 살 수 있다

•   조선비즈: 포스코·현대제철, 車 강판 가격인상 고수하는 이유는

•   조선비즈: ‘반도체 혹한기’ 삼성·SK하이닉스가 주목한 ‘클라우드’

•   조선비즈: IBM, 도쿄일렉트론과 세계 최초 3D 적층 기술 개발…“반도체 공급난 해소 기대”

•   조선비즈: 한·중 동반 성장 30년…교역 47배 양적 팽창, 질적 고도화 기로

•   조선비즈: 생애최초 LTV 80%로 높아졌지만 … “매수문의 없어요”

•   조선비즈: 高환율·高물가에도 ‘갤럭시Z폴드4’ 가격 동결… 대중화 승부 건 노태문 사장

•   조선비즈: 경제학자 절반은 이미 “스태그플레이션” 진단…하반기 소비 부진 ‘빨간불’

•   중앙: 유가 내리니 농산물이…배추 89% 오이 75%↑

•   동아(P1): 인기 상위 50개 단지도 1년새 거래 70% 줄었다

•   동아: 전문가 “내년 상반기까지 부동산 냉각기… 가격 급락 가능성은 작아”

•   국민(P1): 대형마트 의무휴업 10년, 폐지 않고 그대로 가나

•   국민: [단독] 다중채무 자영업자, 6개월새 13만명↑…경제위기 ‘뇌관’ 우려

•   머니투데이(P1): 내년 예산 650조 안팎?…"지역화폐 예산 빼 서민 돕는다"

•   머니투데이(P1): 당정 "반도체는 안보이자 경제 근간"...'초파격' 정책 시사

•   머니투데이: '이 남자' 변심에 481조원이···배터리·태양광 한국 기업들 웃는다

•   파이낸셜뉴스(P1): 이창용 "물가 10월 정점…추가 빅스텝 배제못해" [경기·민생 해법 고민하는 정부]

•   파이낸셜뉴스(P1): 얼어붙은 회사채 시장... 기업, CP로 자금 조달

•   파이낸셜뉴스: 변이 확산에도 해외여행 급증… 외국서 확진되면 ‘수백만원 폭탄’ [휴가철 코로나 주의보]

•   아시아경제(P1): 개미들 '삼전 탈출' 시작됐다

•   아시아경제(P1): [카플레이션 시대]여전히 비싼 중고차…인기차종-신차 '역전현상'

•   이데일리(P1): 공공기관 지방이전 시즌2…시작부터 '졸속' 우려

•   이데일리: 공공기관 옮겨도 인구 분산 '반짝 효과'…1차 이전 반면교사 삼아야

•   이데일리: '칩4' '3불' 중국 반발 거세…위기의 8월 온다

•   이데일리: 여름철 전력수요 급증에…8월 전력도매가 ‘급등’

•   연합: 코로나19 신규확진 11만명 안팎…4월중순 이후 최고치 예상

•   연합: 동학 개미 떠나나…증시 대기 자금 한 달 새 4조4천억원 줄어

•   연합: "비수기 기다리자"…고물가·코로나에 2030 '휴끌족' 늘어

•   더구루: [단독] 뉴스케일파워 '소형원전', 美NRC 최종관문 '통과'…두산·삼성·GS 원전사업 '탄력'

•   뉴스웨이: [단독]2024년 국내 최초 한국형 수소연료전지 '예인선' 상용화

•   전자신문: 발전용 연료전지, 올해 상반기까지 808MW…'숨 고르기'

[Opinions]

•   Project Syndicate(Robert J. Barro): Yes, the US Economy Is Likely in Recession

•   Project Syndicate(J. Bradford DeLong): Biden’s Summer of Legislative Love

•   Project Syndicate(Joschka Fischer): The End of Contemporary History

•   Project Syndicate(Kenneth Rogoff): Fiscal Policy Should Return to Fundamentals

•   Project Syndicate(Antara Haldar): One Small Step for Manchin, One Giant Leap for Mankind?

•   Project Syndicate(Anatole Kaletsky): Why Are Financial Markets So Complacent?

•   FT(Editorial Board): Nancy Pelosi’s ill-conceived visit to Taiwan

•   FT(Rana Foroohar): Biden’s surprise win will bring economic as well as political benefits

•   FT(Philip Stephens): After Brexit the Tories still cannot escape EU red tape

•   FT(David Sheppard): he UK has an energy security problem but does not want to admit it

•   FT(Ivan Krastev): The EU is losing control of events on its conflict-ridden periphery

•   NYT(Peter Coy): Supply-Side Economics Isn’t Just for Republicans Anymore

•   WP(Marc A. Thiessen): The Inflation Reduction Act is anything but

•   Bloomberg(Editorial Board): New Chips Act Could Become a $280 Billion Boondoggle

•   Bloomberg(Mohamed A. El-Erian): Why Stocks Took a July Vacay From Fundamentals

•   Bloomberg(Bill Dudley): Wishful Thinking Won’t Help the Fed Beat Inflation

•   Bloomberg(David Fickling): Saudi Arabia's Planned Neom Metropolis Makes China Evergrande Look Practical

•   Bloomberg(Conor Sen): Amazon Is Showing Us What a Soft Landing Looks Like

•   Bloomberg(John Authers): Watch the Data Before Falling Too Hard for This Rally

•   Bloomberg(Marcus Ashworth): The Bank of England Needs a Big Mac and Fries

•   Bloomberg(Liam Denning): Big Oil’s Changing Priorities: Elements by Liam Denning

•   Fox News(Ronna McDaniel): In Biden's America, 2022 midterm elections can't come soon enough

•   Fox News(Rebecca Grant): Biden team can't punt on North Korea missile program as Obama did

•   Fox Business(Larry Kudlow): Schumer reconciliation bill would stop the surge of business investment

•   Reuters(John Kemp): Hedge funds bullish on U.S. diesel as inventories dwindle