China: China Will Be World’s Largest Economy In 2024: IHS
China will become the world’s largest economy in 2024, according to the global information provider IHS Inc. “Over the next 10 years, China’s economy is expected to rebalance toward more rapid growth in consumption, which will help the structure of the domestic economy.” (Source: International Business Times)

Global: Central bank shock potential: Watch out
There’s been fierce debate over whether the stimulus efforts implemented since the 2008 economic crisis took hold – such as the U.S. Federal Reserve’s massive bond-buying program – could have done more harm than good. We take a look at three of the world’s key central banks, and the global risks they pose. (Source: CNBC)

Russia: New sanctions against Russia?
The European Union is deciding whether or not to proceed with new sanctions against Russia for its role in the Ukraine crisis. EU members said the move could be suspended if the Kremlin withdraws its troops from Ukraine and observes the ceasefire agreement reached in Minsk. If the new ban comes into effect, Russian defense and oil companies will have limited access to the European financial markets. (Source: Deutsche Welle)

Germany: German exports soar to record high
Deutsche Welle reports that Germany exported over EUR 100 billion in July on the back of strong demand from its European neighbors. It represents the highest-ever figure for a single month. (Source: Deutsche Welle)

Japan: GDP contraction revised to deeper than estimated 7.1% 
Economic activity dropped more than initially reported in Q2, which marks the worst performance since the height of the global financial crisis. This result adds more pressure on Prime Minister Shinzo Abe to delay another consumption tax hike and the Bank of Japan to expand its stimulus. (Source: The Japan Times)

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