The Milken Institute global conference held in Beverly Hills on May 5 brought together many investors and business leaders in the context of global economic volatility related to geopolitical tensions, capital transfers, and the impact of artificial intelligence (AI). Jonathan Gray, Blackstone’s President and CEO, stated that the American and global economies remain resilient in the face of shocks.
In a disappointing development, Europe risks falling behind in the global race for digital currencies as the progress of the digital euro project is slow. According to the plan, the digital currency issued by the European Central Bank (ECB) may not be launched until 2029, increasing pressure to accelerate the process in Europe.
On May 5-6, G7 trade ministers will gather in Paris to discuss essential minerals and e-commerce management, amidst global economic disruptions related to the Strait of Hormuz.
With hundreds of ships assembling near Dubai on May 5, and others hastily exiting the Strait of Hormuz due to escalating tensions, global maritime traffic in this strategic waterway is not expected to be restored anytime soon. Chevron CEO Mike Wirth warned of a potential oil supply shortage worldwide, as about 20% of global crude oil passes through the closed Strait of Hormuz.
On May 4, following a meeting of Eurogroup finance ministers in Brussels, President Kyriakos Pierrakakis emphasized the need for reinforced coordination among Eurozone countries to address economic risks arising from Middle East instability, impacting energy prices, inflation, and growth.
Meanwhile, Apple is seeking alternative chip suppliers besides its traditional partner, Taiwan Semiconductor Manufacturing Co. (TSMC). Discussions have begun with Intel about the possibility of using their chip manufacturing services, and visits to Samsung Electronics’ advanced chip manufacturing plant in Texas have also taken place.
Source: https://baotintuc.vn/kinh-te/diem-tin-kinh-te-the-gioi-noi-bat-ngay-552026-20260505203342022.htm
/2026/05/07/69fca3bcd2c5b283200882.jpg "Testimony: War, there is nothing worse: At 108 years old, Jean Turco dives back into his memories as a soldier prisoner during World War II.")
