Growth figures for the EU and U.S. economy illustrate the difference. The bloc grew by a mere 0.5% in 2023, compared with 2.5% in the United States.
Scholz said in talks with Xi on Tuesday "the Russian war of aggression in Ukraine and Russia's arms build-up have a very significant negative impact on security in Europe," according to a recording provided by the chancellor's office.
The European Union tracks industrial production as a measurement of the economy.
Union leaders are demanding higher wages in the face of President Javier Milei’s drastic austerity measures.
Wall Street suffered the biggest sell-off of the year, as noisy inflation data has investors increasingly worried interest rate cuts will come later than originally predicted, if they come at all in 2024.
The March figures provide concerning evidence that inflation is stuck at an elevated level after having steadily dropped in the second half of 2023.
G20 nations are responsible for 80% of planet-heating emissions "and must be at the core of the solution," Simon Stiell said.
A coalition of states says the president is unfairly pushing the SAVE plan's up to $1 trillion price tag onto working Americans.
Human rights groups warn that new cuts will cause a rise in relative poverty among young adults, single parents and elderly, working-aged people who live alone.
The early action — which includes a pullback of one-time spending, deferring spending and borrowing — could reach a vote this week.
The money will support construction of three manufacturing plants in Phoenix, creating an estimated 6,000 manufacturing jobs and 20,000 construction jobs.
