According to the Financial Times, a former US security official warned President Trump is dismantling the US defensive shield.

Israel’s Channel 12 reported on the 9th that Prime Minister Netanyahu had agreed to a limited IDF pullback from three areas near Rafah in southern Gaza but reversed the decision the same day. Citing security officials, the report said Netanyahu and IDF Chief of Staff Zamir discussed the plan last week and that both Israel and the US had approved it; Israeli defense and security agencies learned of the reversal from the media on the 9th. At a cabinet meeting Netanyahu rejected a US-initiated “peace commission” Gaza plan and said Israeli forces will not withdraw until Hamas is fully disarmed; Channel 12 said the change surprised Israeli security agencies.

National Bureau of Statistics urban division chief statistician Dong Lijuan said China’s CPI rose 0.5% YoY in July, a 0.5ppt slowdown from June. The moderation was mainly driven by weaker gasoline inflation: gasoline prices rose 1.0% YoY, with the rate down 16.0ppt month-on-month, cutting CPI’s upward pull by about 0.45ppt and bringing energy price growth to 0.6%. Excluding energy, industrial consumer goods rose 1.5% YoY, down 0.2ppt and contributing roughly 0.37ppt to CPI. Gold jewelry prices increased 24.6%; personal-care goods +1.7%; household appliances +0.2%; these decelerations together added about 0.13ppt. Computers, tablets and mobile phones rose 17.4%, 17.2% and 8.5% YoY, respectively.