FT News Briefing

Biden and Xi meet in San Francisco

Nov 15, 2023

09:33

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Former US President Joe Biden and President of China Xi Jinping hold a high-profile summit in San Francisco to stabilize relations; US inflation falls to 3.2%; Ukraine war damages Russia's labor market; AI outperforms conventional weather forecasting methods.

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Quick takeaways

The Biden-Xi summit aims to stabilize relations by addressing issues like the export of fentanyl and reopening military communications, although resolution on topics like Taiwan remains unlikely.

Russia's war in Ukraine is causing workforce shortages and economic changes, with an aging population, mobilization of young men, and skilled labor leaving. The defense sector's growth and brain drain reveal long-term development challenges.

Deep dives

US-China Summit: Tensions and Expectations

The meeting between US President Joe Biden and Chinese President Xi Jinping is taking place amidst increasing tensions between the two countries. The summit aims to stabilize relations and address key issues of concern. Concrete agreements expected from the meeting include a crackdown on the export of fentanyl ingredients from China to the US, as well as the reopening of military communications. However, contentious topics such as Taiwan are unlikely to see significant resolution. The outcome of the summit is crucial for President Biden's goal of avoiding conflict before his re-election campaign.

Introduction

2min

Tensions, Potential Agreements, and the Significance of the Summit

2min

Biden-Xi Summit, Inflation, and Shrinking Workforce in Russia

4min

Labor Shortages, Economy Dependency, and Advanced Weather Forecasting

3min

Joe Biden and Xi Jinping will hold a high-profile summit in San Francisco today, US inflation fell more than expected to 3.2 per cent in October, and the war in Ukraine is doing serious damage to Russia’s labour market.

Mentioned in this podcast:

Biden and Xi meet in bid to stabilise relations between superpowers

US stocks and bonds jump after inflation falls to 3.2%

Russia’s war economy leaves businesses starved of labour

AI outperforms conventional weather forecasting methods for first time

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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