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WASHINGTON (AP) — The United States is hosting the annual APEC summit of world leaders this week for the first time since 2011. But the main summit event will actually be on the sidelines: A face-to-face meeting between President Joe Biden and Chinese President Xi Jinping. The annual leaders' conference brings together heads of nations and other top economic and diplomatic leaders. That decision was regarded as a snub by some APEC leaders. Since then, the APEC leaders have posed together in batik shirts (Malaysia, 1998), Chinese jackets (Shanghai, 2001), flowing ponchos (Chile, 2004) and "ao dai” tunics (Vietnam, 2006.)

Persons: Joe Biden, Xi Jinping, Vladimir Putin, Gina Raimondo, isn't, Biden, Donald Trump, Kamala Harris, that's, Morris Chang, Paul Chan, John Lee, It's, Bill Clinton, Barack Obama, Obama Organizations: WASHINGTON, APEC, Economic Cooperation, Biden, Pacific, Thai, Taiwan Semiconductor Manufacturing Co, Financial, Moody’s Investors Service Locations: United States, Asia, San Francisco, China, U.S, Israel, Ukraine, Russia, Japan, Australia, Taiwan, Hong Kong, Pacific, Bangkok, Chile, Thailand, China . Hong Kong, Seattle, American, Malaysia, Shanghai, ponchos, Vietnam, Philippines, Hawaii

☆ Presidential portraits: Kehinde Wiley’s secret, decade-long project painting African leaders
▼ + stars: | 2023-11-08 | by ( Thomas Page | ) edition.cnn.com time to read: +6 min

Perhaps not, supposes Kehinde Wiley in his latest collection, “A Maze of Power,” which, in the artist’s own indelible style, casts plenty of light of its own. We’re now learning that before and after that commission, he had been on a secret, decade-long odyssey across the African continent, painting its current and former heads of state. This series narrows the gap further, with subjects commanding a similar power to some of Wiley’s artistic reference points. Tanguy Beurdeley/© Courtesy Kehinde Wiley and Galerie TemplonHery Rajaonarimampianina, the former president of Madagascar, sits astride a horse in one painting. Some might wrinkle their nose at seeing certain heads or former heads of state depicted in such triumphant fashion.

Persons: Kehinde Wiley, Wiley, Barack Obama, We’re, Jacques Chirac, Obama, Sarah Ligner, Black, Old, Olusegun Obasanjo, Paul Kagame, Tanguy, Hery Rajaonarimampianina, Alpha Condé, –, ”, Rajaonarimampianina –, “, “ it’s, Andy Warhol’s, Mao Organizations: CNN, Old Masters, Democratic, Wiley Locations: Africa, Zimbabwe, Rhodesia, Los Angeles, Senegal, Nigeria, New York, Paris, France, Rwanda, Madagascar, Ethiopia, Addis Ababa, Guinea, Ghana, Ivory Coast, Togo, Democratic Republic of Congo

☆ Mummified baboons found in Egypt have puzzled scientists for 118 years. Now we finally might know how they got there and why.
▼ + stars: | 2023-11-05 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Mummified remains of baboons in Egypt found over a century ago have long puzzled researchers. AdvertisementAdvertisementNew research on the mysterious remains of mummified baboons, found far from their natural habitat over a hundred years ago in Egypt, has shed light on the sacred significance of the primates in the ancient Arabian Peninsula. Kopp's discovery is the first time ancient DNA from a mummified non-human primate has successfully been analyzed to this extent. The exact location of Punt, Kopp told Insider, has long puzzled researchers due to references to the town being found in significant texts and artwork but not found on existing maps. And they even mummified baboons, which any primatologist will tell you is puzzling."

Persons: —, Gisela Kopp, Kopp, Gabbanat, Patrick Ageneau Kopp, they're, Pesky, Nathaniel Dominy, Dominy, you'd, Thoth Organizations: Service, University of Konstanz, Musee des Confluences, Dartmouth College Locations: Egypt, Adulis, Eritrea —, Africa, Eritrea, Punt, Lyon, France, Qurud

☆ Is Globalization in Decline? A New Number Contradicts the Consensus
▼ + stars: | 2023-11-03 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

Shipping containers awaited transport at Georgia’s Port of Savannah earlier this year. Photo: Elijah Nouvelage/Bloomberg NewsThis is a column about two numbers that seem to tell contradictory stories about globalization. Over the past 15 years, a consensus has developed that globalization has run its course and gone into decline. One popular number supporting this argument: Trade as a share of global output peaked in 2008 at the cusp of the global financial crisis and has never recovered.

Persons: Elijah Nouvelage Organizations: Bloomberg Locations: Georgia’s Port, Savannah

☆ The biggest winners — and losers — in the coming AI job apocalypse
▼ + stars: | 2023-11-01 | by ( Emil Skandul | ) www.businessinsider.com time to read: +10 min

In fact, as other long-term trends take hold, many of these working-class roles are poised for a job explosion. While manufacturing jobs as a whole are expected to stay flat, spending in this industry has boomed to $200 billion each year, tripling in the past five years. "What characterizes the physical labor jobs that are safe for the next five or 10 years are things that are in an unpredictable physical environment," Kweilin Ellingrud, a McKinsey Global Institute director, told me. Instead of replacing these jobs, AI will likely benefit specific roles by making it easier to do the most routine parts of the job. He added: "There are these jobs that are in a middle ground where the physical work may remain but the supervision might be more exposed."

Persons: plumbers, Philip Levine, there's, Mark Muro, barometers, OpenAI, Ellingrud, Muro, Emil Skandul, Tony Blair Organizations: Ford, US Bureau of Labor Statistics, Brookings Institution, Accenture, Bureau of Labor Statistics, McKinsey, McKinsey Global Institute, Research, Tony Blair Institute Locations: American, America

☆ Biden kicks off rural America tour in Minnesota
▼ + stars: | 2023-11-01 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/2] U.S. President Joe Biden holds an event about American retirement economics in the State Dining Room at the White House in Washington, U.S., October 31, 2023. Thirteen top administration officials will visit rural places in 15 states, including election battlegrounds like Michigan, Pennsylvania and Arizona, to highlight investments in rural communities, where one in five Americans live. A campaign official told Reuters that Biden would also participate in a fundraiser in Minneapolis after the farm visit. Biden beat former president Donald Trump in Minnesota by 52.4% to 45.3%, winning the state's 10 electoral college votes out of a total of 538 total. "President Biden believes that investing in America means investing in all of America and leaving no one behind," Neera Tanden, who heads the White House Domestic Policy Council, told reporters.

Persons: Joe Biden, Leah Millis, Biden, Dean Phillips, Donald Trump, Karine Jean, Pierre, Phillips, Jaylani Hussein, Tanden, Andrea Shalal, Jeff Mason, Andrew Hay, Stephen Coates Organizations: White, REUTERS, Rights, Reuters, Democratic, of American Islamic Relations, Muslim American, St Paul International Airport, Domestic Policy Council, Black, Republicans, Thomson Locations: Washington , U.S, Minnesota, Michigan, Pennsylvania, Arizona, Minneapolis, Gaza, Israel, America, North Carolina, Georgia, Wisconsin, Raleigh , North Carolina, Northfield, Puerto Rico

☆ Gaza needs billions in aid to reverse years of restrictions -UN trade body
▼ + stars: | 2023-10-25 | by ( Gabrielle Tétrault-Farber | ) www.reuters.com time to read: +2 min

Trucks carrying aid wait to exit, on the Palestinian side of the border with Egypt, as the conflict between Israel and Palestinian Islamist group Hamas continues, in Rafah in the southern Gaza Strip, October 21, 2023. REUTERS/Ibraheem Abu Mustafa/File Photo Acquire Licensing RightsGENEVA, Oct 25 (Reuters) - Gaza needs billions of dollars in international economic aid to compensate for years of restrictions that have stifled its economy and curbed its development, according to a report published on Wednesday by the United Nations trade body. "Donors and the international community need to extend significant economic aid to repair the extensive damage Gaza has experienced under prolonged restrictions and closures and frequent military operations, which has stifled the economy and decimated infrastructure," the report said. Nearly half of Gaza's population is unemployed, and more than half lives in poverty, the report said. "Border closures and repeated military operations have set in motion a vicious circle of economic and institutional collapse that has rendered Gaza a case of 'development in reverse,'" the report said.

Persons: Abu Mustafa, Richard Kozul, Wright, Gabrielle Tétrault, Farber, Bernadette Baum Organizations: Hamas, REUTERS, Rights, United, United Nations Conference, Trade, Development, Thomson Locations: Egypt, Israel, Palestinian, Rafah, Gaza, United Nations, Palestinian Territory, Geneva

☆ Opinion | A Brief History of a Problematic Appetizer
▼ + stars: | 2023-10-22 | by ( Ian Urbina | ) www.nytimes.com time to read: +3 min

In some parts of the world, frequent illegal incursions by Chinese ships into other nations’ waters are heightening military tensions. A recent investigation that my team and I conducted revealed a worrying range of human rights and environmental crimes tied to Chinese ships and processing plants. Chinese ships have also fished in North Korean waters, breaking U.N. sanctions, and engaged in violence, wage theft, forced labor, severe neglect of deckhands and human trafficking. Like the boats that supply them, Chinese processing plants rely on forced labor, from North Korea and from Uyghur and other Muslim minorities in China. But it has also stretched the distance between producers, movers and consumers, making it harder to know whether what you’re consuming is tainted by forced labor or environmental crimes.

Persons: Ruggiero Seafood, Ruggiero Organizations: Argentine, Sysco, Walmart Locations: China, United States, North Korea, U.S

☆ China's led the EV race – but it may be running out of charge
▼ + stars: | 2023-10-22 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThere's been a clear winner in the global EV race so far: China. Ford CEO Jim Farley announcing its Michigan EV battery plant in February. Bill Pugliano/Getty ImagesConcern about using Chinese battery technology reflects wider global concern about China's domination of the EV battery market, with governments starting to block Chinese investment into mines and factories. AdvertisementAdvertisementAustralia is the world's biggest producer of lithium, a key material for EV batteries, and a major producer of other rare earths. AdvertisementAdvertisementChina may have led the world in the EV race – but those days could well be numbered.

Persons: —, Bill Russo, Chrysler's, CATL, Ariel Cohen, there's, Shawn Fain, Ford, Jim Farley, Bill Pugliano, Jim Chalmers, Cohen, Morgan Stanley, Mazzocco, Bernstein, he's, Biden, it's, Ursula von der, Donald Trump Organizations: EV, European Union, Service, Economic, Financial, Ford, Council's Eurasia Center, of Foreign Relations, UAW, Reuters, Michigan EV, Minerals, Publishing, Center for Strategic, International Studies, South, Japan's Panasonic, European, Benz, Bloomberg, White Locations: China, America, Europe, South Korea, Michigan, Australia, India, Nanjing, Washington ,, Hungary

☆ High bond yields and a strong dollar could be here for longer, as policy conditions mirror the 1980s, Bank of America says
▼ + stars: | 2023-10-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The mix of loose fiscal policy and tight monetary policy looks similar to the 1980s, BofA said. In that decade, those circumstances led to high yields and a strong dollar, similar to what's occurring today. As high yields have generally corresponded with a strong dollar, the greenback will remain historically strong, even if inflation is tamed and interest rates reverse course. AdvertisementAdvertisementBofA continues to forecast a non-landing scenario for the economy, which would support both high yields and a strong dollar. This is a case of markets getting concerned about US debt sustainability, both weakening the USD and increasing yields," Bofa added.

Persons: BofA, —, Reaganomics, Volcker, Bofa Organizations: Service, Bank of America, FX

☆ Morgan Stanley says this China stock is a global video game 'powerhouse' with 40% upside
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors should scoop up shares of NetEase before it hits the global runway, according to Morgan Stanley. Analyst Alex Poon maintained his overweight rating on the China-based technology company and raised his price target by $15 to $150. "After tripling its market share in China in the last decade, NetEase is emerging as a global video games content powerhouse by forming synergistic partnerships with gaming industry veterans globally that will likely drive a similar runway for its global market share," Poon wrote in a Tuesday note. Another potential boost to NetEase's growth is its long-term goal to develop at least one-third of its global IPs in future, which would drive half of its game revenue from international markets and provide "significant upside" to its current global market share of roughly 1%, the analyst said. NetEase expects its international studios to start releasing game titles in 2025.

Persons: Morgan Stanley, Alex Poon, Poon, NetEase, — CNBC's Michael Bloom Locations: NetEase, China

[1/2] Performers dance to welcome Vietnam's President Vo Van Thuong at Beijing Capital International Airport ahead of the Third Belt and Road Forum in Beijing, China, October 17, 2023. The conciliatory approach towards rivals as well as China's partners in the developing world comes as President Xi Jinping gets to grips with the most significant domestic economic problems seen in years. China has not changed its tone on every issue. It has not backed away from escalating maritime confrontation with the Philippines in the South China Sea. Stabilizing the U.S. relationship, including with a meeting between Xi and U.S. President Joe Biden at an upcoming Asia- Pacific summit, could give China breathing room.

Persons: Vo Van Thuong, Parker, Biden, Xi Jinping, Noah Barkin, Barkin, Cheng Lei, Xi, Chuck Schumer, Willy Lam, Huiyao Wang, Qin Gang, Li Shangfu, Joe Biden, Donald Trump, Zack Cooper, Don Durfee, Robert Birsel Organizations: Beijing Capital International, Forum, U.S, Initiative, Jamestown Foundation, for, Marshall, American Enterprise Institute, Washington, Thomson Locations: Beijing, China, San Francisco China, HONG KONG, WASHINGTON, Sri Lanka, United States, Asia, Europe, Australia, U.S, Zambia, Philippines, South China, Africa, for China

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

[1/4] Indonesian President Joko Widodo arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 16, 2023. Ten years on, the most senior EU leader expected to attend the third Belt and Road (BRI) Summit this week is Hungary's populist Viktor Orban, who will join guests including Russia's Vladimir Putin and a minister of the Afghan Taliban. Such Western doubts have coincided with Xi's assertive leadership and a deterioration in ties over trade, human rights, COVID-19 and Taiwan. Other analysts say economic slowdown both in China and globally, and rising commodity prices, have also cast a pall over the initiative. "It's not perfect, but it’s a process, and people are gradually realising it's so important: we need to build infrastructure.

Persons: Joko Widodo, Ken Ishii, Putin, Orban, Britain's, Viktor Orban, Russia's Vladimir Putin, Xi, Jinping, Matthew Erie, they've, Raffaello Pantucci, Ruby Osman, Tony Blair, Osman, Wang Huiyao, Wang, Joyce Zhou, Vineet Sachdev, Antoni Slodkowski, Don Durfee, Robert Birsel Organizations: Beijing Capital International Airport, Forum, REUTERS Acquire, Initiative, University of Oxford, Reuters, Washington, American Enterprise Institute, S.Rajaratnam School of International Studies, Tony, Tony Blair Institute for Global, Global Development Initiative, Monetary Fund, Sri, Center for, Thomson Locations: Beijing, China, Italy, Xi's, BEIJING, Western Europe, EU, Taiwan, United States, Ukraine, Erie, CHINA, America, Africa, Russia, Kazakhstan, Congo, Singapore, China's, Argentina, Sri Lanka, Zambia, Center for China

[1/4] Indonesian President Joko Widodo arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 16, 2023. Ten years on, the most senior EU leader expected to attend the third Belt and Road (BRI) Summit this week is Hungary's populist Viktor Orban, who will join guests including Russia's Vladimir Putin and a minister of the Afghan Taliban. Other analysts say economic slowdown both in China and globally, and rising commodity prices, have also cast a pall over the initiative. Wang Huiyao, president of the Center for China and Globalization think tank, said the BRI had "greatly pushed forward global awareness about the infrastructure deficit". "It's not perfect, but it’s a process, and people are gradually realising it's so important: we need to build infrastructure.

☆ Israel-Hamas war risks further deglobalization and inflation
▼ + stars: | 2023-10-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The global economy is facing tremendous uncertainty from the war between Hamas and Israel in the Middle East, on top of the ongoing war between Russia and Ukraine. They say Israel’s declaration of war against Hamas could be yet another catalyst for deglobalization, though the extent of that is still up in the air. If deglobalization does get exacerbated, what would that mean for inflation and monetary policy, globally? With deglobalization, you get a global economic environment that’s less competitive, and when there’s less competition, that is ultimately inflationary, causing prices to rise. Over the Covid era, China shut down production, disrupting the global supply chain, so deglobalization would bring some production back within US borders.

Persons: Wells, Bell, Brendan McKenna, that’s, Trump, there’s, Hanna Ziady, we’ve, ”, Avi Hasson, Patrick Harker, John Williams, Tom Barkin, Michelle Bowman, Tesla, Christopher Waller, Lisa Cook, Jerome Powell, Austan Goolsbee, Michael Barr, Raphael Bostic, Loretta Mester Organizations: CNN Business, Bell, DC CNN, Trump, Hamas, Nation Central, Philadelphia Fed, US Commerce Department, Federal Reserve, National Association of Home Builders, China’s National Bureau of Statistics, Procter & Gamble, United Kingdom’s, National Statistics, American Airlines, US Labor Department, Federal, Fed Locations: Washington, Israel, Russia, Ukraine, China, Wells Fargo, Gaza, deglobalization, United States, Mexico, US, Tel Aviv, New York

☆ Former Trump cabinet member Wilbur Ross lays out which industries remain dependent on China and which trade partners could fill in the gap
▼ + stars: | 2023-10-05 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Wilbur Ross said pharmaceuticals and industries reliant on rare minerals are still dependent on China. Countries like India, Vietnam, and Mexico will grow to become bigger trade partners, he predicted. Still, there are several industries reliant on China, Ross said. AdvertisementAdvertisementAs the US and China continue their diplomatic standoff, he believes trade partners like Vietnam and Mexico will grow in importance. The U.S. exported $195.5 billion worth of goods to China in 2022, while bringing in more than $560 billion worth of Chinese goods, according to the U.S. Trade Representative.

Persons: Wilbur Ross, —, Commerce Wilbur Ross doesn't, Joe Biden's, Lockheed Martin, Ross, Donald Trump, Ross doesn't, there's Organizations: Commerce, Service, Lockheed, Micron, Intel, Greenwich Economic, Trump, U.S . Trade Representative Locations: China, India, Vietnam, Mexico, Greenwich, U.S

☆ A climate researcher risks losing university post for refusing to fly home
▼ + stars: | 2023-10-04 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —Climate researcher Dr. Gianluca Grimalda says that he risks losing his post at the Kiel Institute for the World Economy in Germany for refusing to use a plane as a means of transport back from Papua New Guinea. However, he said the institute gave him three days notice to return by October 2 which would have forced him to fly, according to a statement issued by climate group Scientist Rebellion. The Kiel Institute told CNN that it “doesn’t comment on internal personnel matters in public. As an alternative, climate activists such as Greta Thunberg have modeled greener ways to travel such as by ship or train. “I am prepared to face all the legal and economic consequences of this decision,” Grimalda said in a statement.

Persons: Gianluca Grimalda, Grimalda, ”, Greta Thunberg, ” Grimalda, it’s Organizations: CNN, Kiel Institute, Institute Locations: Germany, Papua New Guinea, Kiel, Bougainville, “, Singapore

☆ Choppy waters as Europe navigates China-US rivalry
▼ + stars: | 2023-10-04 | by ( Mark John | ) www.reuters.com time to read: +6 min

The fracturing of the rules and bonds tying the global economy together - so-called "geo-economic fragmentation" - seemed implausible only a few years ago. Nowhere is it more pressing than for Europe, whose wealth has always relied on trade, from its rapacious colonial history through to its reinvention as self-styled champion of WTO rules. Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied. The main EU concern is that the U.S. proposals could break WTO rules by discriminating against third parties. "And we really hope ... that after the election in the United States this is going to continue."

Persons: Jon Nazca, Gordon Brown, Brown, Brad Setser, Biden, Joe Biden, Donald Trump, Trump, Wang Huiyao, Petra Sigmund, Philip Blenkinsop, Joe Cash, Belen Carreno, Mark John, Catherine Evans Organizations: Triple, Majestic, APM, REUTERS, Trade Organization, USA, International Monetary, European, Reuters, for, Thomson Locations: Algeciras, Spain, China, Europe, America, American, United States, Moroccan, Marrakech, Beijing, Washington, Brussels, U.S, EU, for China, IMF, Madrid

☆ Prepare for 'stalling and divergent' global growth in 2024, UN trade arm warns
▼ + stars: | 2023-10-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +1 min

Prepare for "stalling and divergent" global growth next year, according to a new forecast issued by the United Nations. Global economic growth will rise slightly, from 2.4% in 2023 to 2.5% in 2024, according to the UN's Trade and Development Report, but the world economy is in a precarious position, Richard Kozul-Wright, UNCTAD, Director, Division on Globalization and Development Strategies Division, tells CNBC. "The global economy is pretty weak and I consider the projection to be an optimistic call," he said. Even with these concerns, he noted that the U.S. economy continues to be the best-performing amongst the developing countries. "I know there are growing voices of the 'R word' for the U.S. next year, but we are not saying recession yet.

Persons: Richard Kozul, Wright Organizations: United Nations, UN's Trade, Wright, UNCTAD, Globalization, CNBC, UN, UAW, U.S Locations: U.S

☆ Fiscal excess, the power of Main Street, and US 'debasement': Here are the themes BofA says will dominate markets for the rest of this decade
▼ + stars: | 2023-10-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Central banks around the world are raising interest rates up from 5,000-year lows, and that's ushering in the end of abnormally high returns for stocks and bonds. In the prior decade, deflation assets like bonds and tech gained about 10%, while inflation assets such as cash, commodities, and value gained 6%. Central bank policyThe backdrop to all this has been the actions taken by global central banks, led by the US Federal Reserve. But as with other dominant themes of the 2010s, the monetary excess of central bankers is set to be replaced. The combination of central banks' monetary excess and governments' fiscal excess of the last three years has pushed nominal US GDP 40% higher since its pandemic low in the fourth quarter of 2020.

Persons: —, BofA, It's Organizations: Bank of America, Service, European Union, St, Bank of America US, US Federal Reserve Locations: Ukraine, Central

☆ ‘AI is transformative for the geopolitical order,’ political scientist Ian Bremmer says
▼ + stars: | 2023-09-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Artificial Intelligence will have a significant impact on both geopolitics and globalization, according to Ian Bremmer, political scientist and president of the Eurasia Group. "I think that AI is transformative for the geopolitical order, both in good ways and in problematic ways," Bremmer told CNBC's Tania Bryer for "The CNBC Conversation." On the plus side, AI could drive "a new globalization," Bremmer said — at a time when questions about the state and future of globalization abound. "In other words, I'm an enthusiast about what this technology will do for the world," Bremmer said. For example, anyone can use AI to write code, but it can also be used to hack into systems or create malware, Bremmer pointed out.

Persons: Ian Bremmer, Bremmer, CNBC's Tania Bryer, —, We're Organizations: Intelligence, Eurasia Group, CNBC

☆ Opinion | The U.S. Is Pulling Back From China. How Far Is Too Far?
▼ + stars: | 2023-09-23 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Many Americans, even once-ardent proponents of globalization, have soured on trade with China. But there is a growing danger that as the United States tries to address its difficulties with China, it will pull back too far, severing economic ties that benefit American families and contribute to global peace and prosperity. Soybean farmers in the Upper Midwest sold a record $16.4 billion of their beans to China, mostly for pig feed. Hundreds of millions of Chinese have come out of poverty thanks to global trade, and have become consumers of U.S. goods and services. Amid the harsh talk, the dollar value of American trade with China — Americans buying Chinese products and the Chinese buying American products — rose to a record in 2022.

Persons: flagrantly, Ukraine —, Mike Gallagher, ”, Jon Mills, Alexandra Stevenson Organizations: United States, Wisconsin Republican, Strategic, Chinese Communist Party, The Washington Post, Intel, Cummins, China — Locations: China, United, United States, Ukraine, Washington, The, Upper Midwest, America, U.S, Indiana

☆ AI is going to drive a new globalization: Ian Bremmer
▼ + stars: | 2023-09-22 | by ( Tania Bryer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is going to drive a new globalization: Ian BremmerCNBC's Tania Bryer heads to CogX to talk to Ian Bremmer. The president of Eurasia Group reveals he believes AI will be transformative for the geopolitical order in both good and problematic ways.

Persons: Ian Bremmer CNBC's Tania Bryer, Ian Bremmer Organizations: Eurasia Group Locations: CogX

☆ Tesla supplier Hota to build first US factory in New Mexico
▼ + stars: | 2023-09-20 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, Sept 20 (Reuters) - Tesla supplier Hota Industrial Mfg. Co (1536.TW) will invest $99 million to build its first plant outside of Asia in the U.S. state of New Mexico, the Taiwanese company said on Wednesday, citing greater emphasis on regional production in supply chains. Hota, which makes gears and other auto components primarily in Taiwan, said it would begin construction on the factory in Santa Teresa, near the U.S. border with Mexico, early next year and mass production in 2025. Hota is a key supplier to Tesla (TSLA.O), GM (GM.N) and Ford (F.N). James Huang, chairman of the Taiwan External Trade Development Council, said EVs would be an important focus for bilateral trade and especially in New Mexico.

Persons: David Shen, Shen, Michelle Lujan Grisham, TSMC, James Huang, EVs, Huang, Sarah Wu, Mark Potter Organizations: Industrial Mfg ., U.S ., New, Reuters, GM, Ford, Taiwan External Trade Development Council, U.S, Thomson Locations: TAIPEI, Asia, U.S ., New Mexico, Taiwan, Santa Teresa, U.S, Mexico, China, United States, Taipei, American, Arizona

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