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Key Takeaway: Biden will discuss critical issues with Xi, focusing on stability amid potential changes in US-China relations under Trump’s upcoming administration. President Joe Biden and Chinese President Xi Jinping are set to meet on Saturday at the Asia-Pacific Economic Cooperation (APEC) forum in Lima, Peru, for a final discussion before a new administration. The agenda will cover key global tensions , including US-China relations, Taiwan, Russia’s war in Ukraine , and China’s role in counter-narcotics efforts . US national security adviser Jake Sullivan emphasized that Biden aims to maintain open communication with Xi to manage tensions. Biden is expected to address recent Chinese-linked hacking incidents involving prominent US officials and China’s support for Russia , including the presence of over 10,000 North Korean soldiers in Russia. This meeting follows a period of US restrictions on investment in AI, quantum computing, and semiconductors in China , a move China opposed...

US President Joe Biden and President-elect Donald Trump will meet at the White House on Wednesday, November 13, following an invitation from Biden, the White House confirmed on Saturday. Trump, who won the November 5 presidential election against Vice President Kamala Harris , is set to take office on January 20 next year. White House Press Secretary Karine Jean-Pierre said in a statement that Biden and Trump will meet in the Oval Office . Biden, who initially sought re-election but dropped out in July after a poor debate performance, confirmed the meeting on Saturday after attending a church service in Rehoboth Beach, Delaware . He did not elaborate on the nature of his conversation with Trump but dismissed questions about Trump being a threat to democracy.

US President Joe Biden expressed confidence that the Federal Reserve will continue cutting interest rates, a move he hailed as beneficial for American consumers. Speaking at an Economic Club of Washington event on Thursday, Biden emphasized his administration’s ongoing efforts to lower costs for Americans and highlighted the progress made in bringing inflation closer to the Fed's 2% target . " Interest rates are going to be coming down and they're expected to go down further. That's a good place for us to be," Biden remarked. He welcomed the Fed's half-percentage-point rate cut on Wednesday, calling it "good news for consumers" but acknowledged that more work is needed. Biden’s administration has focused on expanding domestic manufacturing , investing in clean energy and infrastructure, and capping drug costs for seniors. These policies have contributed to the creation of 16 million jobs and rising wages, according to Jeff Zients , the presi...

In a contentious debate, President Joe Biden and former President Donald Trump clashed over their economic records and future plans. With critical issues like inflation, employment, climate policy, tariffs, taxes, and social security at the forefront, both candidates presented starkly contrasting visions. Here's a breakdown of their key economic positions and what they could mean for investors. Inflation: Diverging Diagnoses Biden: “There was no inflation when I took office because the economy was flat on its back with 15% unemployment. Trump decimated the economy. That's why inflation was low.” Trump: “Biden’s handling of inflation is disastrous. He inherited almost no inflation, but it skyrocketed under his watch because of reckless spending.” Key Takeaway: Biden attributes low initial inflation to a devastated economy under Trump, while Trump blames Biden's fiscal policies for current inflationary pressures. Investors should consider potential inflationary trends and the...

Markets extrapolate debate to November election outcome: CBA   Asian stock sentiment upbeat amid lack of anti-China rhetoric The dollar edged higher in Asian trading as markets assessed former president Donald Trump as the victor in the first U.S. presidential debate. Bloomberg’s gauge of the U.S. currency climbed as much as 0.2% on Friday before paring gains, with the index on track for a sixth straight weekly increase. President Joe Biden stumbled through early exchanges in the debate, a performance that may intensify concerns about his ability to defeat Trump in the November election. Key Takeaways: Trump's Economic Pledges : Trump reiterated a pledge to impose 10% duties on imports should he win in November. This move could put upward pressure on inflation, potentially delaying interest-rate cuts and supporting the U.S. dollar. Market Reaction : "Markets likely extrapolated today’s debate outcome to the actual election outcome in November,” said Carol Kong, a strategist at...

Biden’s Struggles Raise Questions About Candidacy President Joe Biden's debate performance was widely seen as disappointing, with numerous misspeaks, bouts of coughing, and a perceived lack of energy. This has intensified concerns about his age and ability to lead for another term, prompting discussions within the Democratic Party about the possibility of replacing him on the ticket. Trump Seizes the Momentum Former President Donald Trump capitalized on Biden's missteps, maintaining energy throughout the debate and delivering sharp attacks. Despite his characteristic exaggerations and falsehoods, Trump managed to stay focused and avoid the outbursts that marred his previous debates. This has strengthened his position as the frontrunner, with undecided voters showing increased support for him. Key Issues Highlighted Abortion : Biden missed an opportunity to leverage this strong Democratic issue, instead pivoting to immigration, a weaker area for him. Economy : Trump attacked Bid...

  President Joe Biden and Indian Prime Minister Narendra Modi will announce a series of defense and commercial deals designed to improve military and economic ties between their nations during Thursday’s state visit at the White House, according to senior US officials. General Electric Co. has unveiled plans to jointly manufacture F414 engines with state-owned Indian firm Hindustan Aeronautics Ltd. for the Tejas light-combat aircraft as part of an effort to enhance defense and technology sharing, given China's increasing assertiveness in the Indo-Pacific. Biden and Modi will discuss a deal for MQ-9B SeaGuardian drones made by General Atomics and a new defense pact that will enable American Navy ships to undertake major repairs at Indian shipyards. Additionally, the two leaders plan to debut a series of semiconductor deals designed to take advantage of Indian subsidies intended to bring advanced technology manufacturing to the South Asian nation. Micron Technology Inc. will announce...