FT News Briefing Biden and Xi meet in San Francisco
Nov 15, 2023
Biden and Xi Jinping's summit casts light on fraught U.S.-China relations. Key discussions include managing military communications and concerns over Taiwan. Meanwhile, U.S. inflation has surprisingly dropped to 3.2%, boosting stocks and bonds. The podcast also reveals the impact of the Ukraine war, leading to a labor shortage in Russia, particularly in the tech sector. On a brighter note, AI advancements are now outperforming traditional methods in weather forecasting, indicating a shift in technological capabilities.
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US-China Tensions
- The US-China relationship is tense, with China viewed as a strategic competitor.
- This summit aims to stabilize relations amidst growing concerns of confrontation.
Potential Summit Outcomes
- A likely agreement involves cracking down on fentanyl ingredient exports from China.
- Reopening military communication channels could also be agreed upon, improving crisis management.
Taiwan's Role in US-China Relations
- Taiwan remains a contentious issue with no major breakthroughs expected.
- Both sides aim to avoid conflict, especially during Taiwan's upcoming elections.