The world s economy could surely benefit from a U.S.-China detente. Since 2020, it has suffered one crisis after another - the COVID-19 pandemic, soaring inflation, surging interest rates, violent conflicts in Ukraine and now Gaza. The global economy is expected to grow a lackluster 3% this year and 2.9% in 2024, according to the International Monetary Fund.
US News: The US is facing simultaneous challenges in the Middle East, Ukraine, and with China, causing concerns that it may be overextended. The defense indust