Cold War Financial News

The IMF's Gopinath added the economic costs of Cold War II 'could be large' because the world is now even more integrated.

WASHINGTON (Reuters) — President Joe Biden will invoke a Cold War-era measure to boost investment in U.S. manufacturing of medicines and medical supplies that he has deemed important for national defense, the White House said.

WASHINGTON (Reuters) — The U.S. will fund nine projects with $169 million from last year's climate bill to speed manufacturing of heat pumps, systems that can heat and cool homes and businesses more efficiently, the Energy Department said on Friday.

Biden and Xi Jinping had more in common with a counseling session for a couple contemplating divorce. The premise: Let’s try to keep things civil for the kids. All week, fear of a new Cold War has loomed over San Francisco, where Asia-Pacific leaders are gathered. After four hours of talks on Wednesday, the US and Chinese presidents offered a glimpse of just how hard it’s going to be to manage their relationship away from that course. The meeting at the Filoli Estate, 30 miles south of San Francisco, was months in the planning. But when the stakes are high, and the differences fundamental, even the most arduous diplomatic groundwork can sometimes only yield small victories. The US and China have agreed to collaborate on climate and artificial intelligence, and resume military-to-military contacts. More American students will be welcomed in China, Chinese pandas may return to American zoos, and Xi vowed to crack down on fentanyl shipments. Bigger and more divisive issues like trade, tariffs leftover from the Trump years and competition over technology were set aside for now. Also largely unanswered after Wednesday’s talks was the question of what comes next. There are plans for working groups that will see middle-ranking officials meet occasionally, but no future high-level interactions were announced aside from a planned China trip by Treasury Secretary Janet Yellen, although the two leaders pledged to speak directly if tensions flared. And 2024, which starts with a presidential election in Taiwan and ends with another one in the US, is shaping up to be a crucial year for the world’s most important relationship.

For a relationship so strained that even the act of a phone call made by one and taken by the other is news worthy, one may have expected more discretion. But soon after US President Joe Biden and his Chinese counterpart Xi Jinping met on Thursday, Biden, at the risk of setting back whatever progress might have been made, touched a raw nerve, again. “Look, he is.

Li Qiang said on Wednesday it is important to avoid a «new Cold War» when dealing with conflicts between countries as world leaders gathered in Indonesia amid sharpening geopolitical rivalries across the Indo-Pacific region. Speaking at an annual summit involving members of the Association of Southeast Asian Nations (ASEAN) and China, Japan and South Korea, Li said countries needed to «appropriately handle differences and disputes». «At present, it is very important to oppose taking sides, bloc confrontation and a new Cold War,» Li told the meeting. ASEAN, which has warned of the danger of getting dragged into major powers' disputes, is also holding wider talks with Li, U.S. Vice President Kamala Harris and leaders of partner countries including Japan, South Korea, Australia and India. Neither U.S.

Russia’s annexation of Crimea in 2014 was an inflection point for globalization. The economic integration between east and west that began with the fall of the Berlin Wall in 1989 started to unravel.