Global | BBVA Research Big Data Geopolitics Monitor. May 7, 2024

Israel launched “limited” strikes on southern Rafah despite Hamas accepting the Egyptian-Qatari truce proposal. President Xi visits Europe

Key points

• Key points:
• Despite Hamas accepting a ceasefire, Israel launched limited military actions in Rafah, including airstrikes. While Israel engages in negotiations, operations continue with caution from U.S. President Biden against escalating the conflict.
• In Paris, EU leaders discussed with Chinese President Xi Jinping the need to protect EU industries from cheap Chinese imports and reduce support for Russia in the Ukraine conflict. New cooperation agreements were signed, enhancing Franco-Chinese collaborations, and Xi advocated for peace talks concerning Ukraine.
• Large-scale protests have emerged in universities globally, especially in the U.S., against Israel's actions in Gaza. The protests, occasionally violent, are calling for universities to cut financial ties with Israel and related companies.
• Geopolitical risks remain high in the Middle East, while economic policy indicators have stabilized into a neutral and safe range following recent increases.
• Political tensions in Spain continue to be elevated following reflection days by the Prime Minister last week.

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