A summit between the Presidents of the United States and China has paved the way to improve relationship between the two major economic powers in a number of areas.
During their four hours-long meeting in Woodside, California, US President Joe Biden and his Chinese counterpart Xi Jinping agreed on taking joint actions to curb fentanyl production and restore military communication lines between the two countries.
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Political News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.