Martial law in Seoul and a Clash in the South China Sea
Andrew Sheves Good morning.
Citing vague and unspecific concerns about his political opposition, South Korean President Yoon declared martial law on Tuesday. Six hours of chaos and confusion resulted before Parliament and his cabinet forced him to overturn the decree. Yoon now faces impeachment changes that will go to a vote in Seoul’s parliament on Wednesday. [SOURCE - Bloomberg]
A timeline of events from Bloomberg
The disputed area around the Scarborough Shoal in the South China Sea remains a potential flashpoint. Earlier Wednesday, a Chinese Coast Guard vessel reportedly sideswiped and used a water cannon against a Philippines Fisheries Department vessel in the area which lies in the Philippines’s territorial waters. [SOURCE - BBC]
](https://Map of Chinas Seven Dash Line and explainer of the dispute in the Economist)Map from an explainer in the Economist
Namibia elected its first female president, Netumbo Nandi-Ndaitwah. [SOURCE - Al Jazeera]
Commodity and Rate Snapshot
🛢️** Crude Futures (WTI)**
$70.42
💵 **USD:EUR **
$1.050*(Price of 1EUR in USD)*
₿ Bitcoin
$96,537
As at Dec 4, 06:00ET -Data is illustrative, not for decision-making.
Financial data via Bloomberg, Freightos and AlphaVantage
Europe Stability Ratings and News Summary
More Unstable
🇦🇱 Albania, 🇧🇾 Belarus, 🇧🇦 Bosnia And Herzegovina, 🇨🇾 Cyprus, 🇪🇪 Estonia, 🇫🇷 France, 🇩🇪 Germany, 🇭🇺 Hungary, 🇮🇸 Iceland, 🇮🇪 Ireland, 🇮🇹 Italy, 🇱🇻 Latvia, 🇱🇹 Lithuania, 🇲🇰 Macedonia, 🇲🇹 Malta, 🇲🇩 Moldova, 🇲🇪 Montenegro, 🇳🇴 Norway, 🇵🇱 Poland, 🇷🇴 Romania, 🇷🇺 Russia, 🇷🇸 Serbia, 🇸🇰 Slovakia, 🇪🇸 Spain, 🇸🇪 Sweden, 🇹🇷 Turkey, 🇺🇦 Ukraine, 🇬🇧 United Kingdom
More Stable
No countries were more stable over this period
Unchanged
🇦🇩 Andorra, 🇦🇹 Austria, 🇧🇪 Belgium, 🇭🇷 Croatia, 🇨🇿 Czech Republic, 🇩🇰 Denmark, 🇫🇮 Finland, 🇬🇷 Greece, 🇱🇮 Liechtenstein, 🇱🇺 Luxembourg, 🇲🇨 Monaco, 🇳🇱 Netherlands, 🇵🇹 Portugal, 🇸🇲 San Marino, 🇸🇮 Slovenia, 🇨🇭 Switzerland
Europe News Summary
Switzerland has faced a setback in its climate initiatives as parliament rejected a proposal to triple state-sponsored funding aimed at combating climate change. Lawmakers expressed concerns over the financial burden on taxpayers, despite increasing global pressure to address environmental issues. This
Carpe tomorrow!