Economy

The US-China relationship  

Biden and XI agreed on several points but not Taiwan  

 

The two leaders of the world's two largest economies managed to thaw some parts of the frosty relationship during Wednesday's meeting, writes Bloomberg.  

 

Among other things, they agreed to stop Chinese exports of fentanyl chemicals, resume military communication channels, cooperate in AI security, increase air routes between the countries and simplify visa regulations.  

 

But it wasn't just consensus during the meeting. Among other things, China made it clear that their territorial ambitions in Taiwan are "unstoppable". 

 

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Recession worries  

Banks: The world appears to be recovering from recession  

 

The world economy will continue to slow down but will likely avoid recession next year.  

 

This is written by Reuters and refers to forecasts from several large banks. Global growth is expected to be 2.9 percent this year and slow to 2.6 percent next year, according to the news agency's survey. However, many are flagging that Europe risks a mild recession in 2024.

 

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One in ten South Koreans could lose their job to AI 

 

Four million South Koreans – 14 percent of the population – are at risk of losing their jobs to AI. This is according to a new study from the country's central bank Bank of Korea, reports Bloomberg.  

 

High earners with an academic background such as chemists, doctors, lawyers, accountants and asset managers are first in line according to the study. Less threatened are jobs such as teachers, musicians, restaurant staff and jobs within religious congregations.  

 

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Report: Flights to Arlanda have decreased sharply  

 

The number of air connections to Arlanda from abroad decreased by 25 percent between 2018 and 2023. This is according to a new study that has been carried out on behalf of Swedavia, Region Stockholm and Visit Sweden. 

 

- It is worrying. The gap to Kastrup is growing. Sweden's economic growth will be negatively affected, says Stockholm's financial regional council Aida Hadzialic (S) to Dagens Nyheter.  

 

The report states that the availability of flights has generally decreased in European cities after the covid pandemic.  

 

According to a previous study by Goldman Sachs, around 300 million jobs globally may be replaced by AI in the future.

 

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Companies pause purchases of Tesla pending resolution  

 

Several companies are pausing their purchases of Tesla cars, Ekot reports.  

 

In a survey carried out by company car company Ynnor, half of those who answered stated that they had stopped or paused their purchases. 

 

- It doesn't fit in with the values that some companies have and then you refrain from buying, says Ynnor's CEO Ronny Svensson. 

 

He adds that some companies are pausing purchases to wait and see where the strike "goes". Roughly 120 companies responded to the survey. These are relatively large companies that all have over 100 company cars each, according to Svensson. Ronny Svensson: