The presidents of China and the United States (US) held conversations to reset their bilateral relationship. Trade data was stronger than expected in both China and Taiwan. South Korean lawmakers warned giant internet platforms against abusing their dominant position. The index provider MSCI downgraded Pakistan to Frontier Markets. Argentina opposition outperformed the government in legislative primary elections. Supporters of Brazilian President Jair Bolsonaro took to the streets to defend the president against attacks from the Supreme Court. Colombian legislators approved an important tax reform. Ecuador agreed to adjust its existing programme with the IMF. The Mexican President repeated it would like to use the IMF SDR injection to repay existing debt. Peruvian President Pedro Castillo approval rate is at very low levels. Russia hiked policy rate by 25bps. South African economy grew more than expected in Q2 2021. The Central Bank of Turkey signalled a shift in focus to core inflation.