The United States, Japan, and South Korea have agreed to strengthen its cooperation on building more resilient supply chains and developing key technologies, particularly semiconductors, clean energy, cybersecurity, and critical minerals.
Tags: Economy
G20 Reports Risks That Could Harm Global Economy, But Avoids Mentioning Ukraine and Gaza
G20 finance ministers and central bankers are optimistic about a "soft landing" for the global economy but warn of geopolitical risks, avoiding specific mentions of Ukraine and Gaza in their discussions.
ECB’s Interest Rates Remain Unchanged But May See Cuts in September
The European Central Bank announced that it would keep interest rates unchanged but may change by the next quarter.
European Commission President Ursula von der Leyen Re-Elected to Second Term
The European Commission has re-elected its president, Ursula von der Leyen, for another five-year term. The continent is facing crises ranging from the war in Ukraine to climate change to migration to economic issues.
Charles III Reads Labour's Economic Plans in UK's State Opening of Parliament
Following the landslide victory of the Labour Party in the United Kingdom’s general election earlier this month, British Prime Minister Sir Keir Starmer laid out the government’s plans to reinvigorate the country’s economy in this year’s State Opening of Parliament.
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Bank of Thailand Governor Sethaput Suthiwartnarueput doubled down its opposition against the Thai government of PM Srettha Thavisin and its plan to give almost $14 billion in cash to almost all of its adult citizens.
Chinese Premier Li Qiang is in New Zealand for a three-day trip aimed at strengthening business and trade ties between the two countries.
The World Bank forecasts 2.6% global growth, driven by US strength, although there is over "slow" growth due to conflicts and debt burdens.
India’s ruling Bharatiya Janata Party narrowly won the 2024 general elections, forcing it to form a coalition and negotiate some economic policies in the near future.
South Korean President Yoon Suk-Yeol, Japanese Prime Minister Fumio Kishida, and Chinese Premier Li Qiang are to hold a trilateral summit in Seoul which would focus on resuming talks on a free trade agreement, among other matters.
South Korea, Japan, and China are set to undergo a trilateral summit in Seoul on May 27, the first time the three nations held such talks in five years.
April saw an unexpected surge in Canadian job growth, adding 90,000 jobs, primarily in part-time work and among young adults, driving hopes for economic recovery.
Recent data indicates the UK economy has exited recession with a 0.6% growth in GDP; Prime Minister Rishi Sunak praises the momentum, while the Bank of England maintains interest rates at 5.25%.
Differences between Western nations led by the U.S. and China-aligned economic blocs threaten global trade cooperation and economic growth, as a top IMF official warned. Escalating tensions between Washington and Beijing could potentially cost the world's GDP up to 7%.
