Global environments:

Politics:

US:Domestically US two parties fighting over Climate bills, Mar-a-Lago case, Immigrations and other issues to win votes for Mid-term. Externally US twoparties jointly boycotted Russia and strengthen ties with allies.
China:Internally China gov are prepare for coming 20th communist congress in mid Oct which will select the new government body. Externally China balance the relationship with Russia and NATO to keep its relationship with NATO.
EU: Internally EU deal more fragmented alliance due to unhappy citizens in different countries. Externally EU tried to curb Russia aswell as strengthen the tie with major energy producers to ease local protests on high living costs.

Economy:

US: Domestically US economy is still strong with 1.7% yoy GDP growth, 3.7% umemployment rate, 52.8 business confidence, 59.5 consumer confidence， 49.3 PMI. Internationally US Dollar is strengthening due to solidGDP and raising interest rate.
China: Domestically China economy weaken with 0.4% yoy GDP growth and 5.7% umemploynent rate.

Big events:

1. Russia-Ukraine:Russia propose its occupied Ukraine states to hold referendum to be indenpent countries. Ukraine asked NATO for more fund and weapon supports to fight as well as more sanctions on Russia. Wars are money, weapon and determination. Russia currently don't have any of these. So Russia may fail on this war. If Russia fail, more open market maybe formed in new Russia.
2. Covid:China Covid-Zero policy is facing great pressure from economy. Other countries already lift Covid restrictions given low risk andeconomy pressure. China may lift its Covid-Zero policy after the 20thcommunist congress.