Hello Global Recap readers,

✅ 2 days of the week down, 3 more to go.

Today, we have stories about Molotov cocktails, more drones, more love-hate relationships between India and China, and more North Korean troubles.

The usual.

📈 Top News

🔥 Putin’s got problems. Pro-Ukrainian residents of Crimea attacking Russian military bases with Molotov cocktails have become “systematic” and more frequent - forcing Russia to increase surveillance in the region.

Click here for more.

🚨 Drone Wars: Moscow’s air defenses shot down several drones targeting the region, with one hitting a tower that already had been struck on Sunday. According to Moscow’s mayor, Sergei Sobyanin, no injuries were reported.

Click here for more.

🚗 Tesla’s India plans hit a roadblock. The Indian government is insisting Tesla to find local partners for any Chinese suppliers involved in building a plant in India. Reason? India’s distrust of Chinese firms operating in India.

Click here for more.

🇲🇲 Myanmar’s former leader Aung San Suu Kyi has been granted a pardon for 5 of the 19 charges. She was recently transferred from prison to house arrest and has been detained since the military coup 2021.

Click here for more.

🌊 Watch out: North Korea is playing with water again. The rogue state has been releasing water from a dam near the border with South Korea without giving any heads-up, despite Seoul’s repeated requests for prior notice.

Click here for more.

✍🏻 In-Depth

Niger
Niger Coup So Far

On July 26, a military coup start with the country's presidential guard’s detainment of President Mohamed Bazoum. Niger’s borders were closed, curfew declared, and all institutions were suspended with the dissolution of the current government.

On July 30, the 15-member bloc known as the Economic Community of West African States (ECOWAS):

1. issued a demand for the restoration of constitutional order and the release of President Bazoum.

2. set a deadline of one week from Sunday for the coup planners to comply, and if they fail to do so, ECOWAS vowed to resort to military intervention.

3. suspended all financial transactions between its member states and Niger.

4. implemented a no-fly zone.

On July 31, Two neighboring nations, Burkina Faso and Mali, said in a joint statement that any military intervention against Niger would be considered war on them.

On August 1, French Foreign Minister Catherine Colonna said the first evacuation plane for French citizens in Niger was “airborne.” France is also assisting Germans to flee Niger as well.

China
China is Trying to Contain the Yuan’s Fall

🇨🇳 China is trying to slow down the fall of its currency, the yuan, against the US dollar. The yuan has lost more than 3.6% of its value this year, making it one of the worst-performing currencies in Asia.

👀 Why does it matter? A depreciated yuan results in more competitively priced Chinese exports in international markets. This is great for China right?

Well, it also leads to higher import costs and inflation within China. Plus, the devaluation of the yuan might prompt capital outflows from China, with investors seeking safer assets in foreign countries.