Business and finance news from the Asia-Pacific.

The surge in Treasury yields has pushed yield gaps with emerging Asia bonds toward record levels, raising the risk of capital outflows from the region, according to strategists. A selloff in US government bonds deepened this week, with the 30-year yield surging to its highest level since 2004 on Thursday and the benchmark 10-year yield hitting its highest since 2007. Bloomberg's David Ingles and Rebecca Choong-Wilkins spoke to Quadratic Capital Management Founder and CIO Nancy Davis.

And - Donald Trump and Xi Jinping addressed their intense competition over artificial intelligence on Thursday during a summit aimed at keeping ties between the world's largest economies on track. How the leaders are handling AI is one of the key questions looming over the state visit, with the US president arguing for unfettered development to keep his nation's edge. China, meanwhile, has criticized American export controls on semiconductors and other inputs that it argues constrains its companies. Bloomberg's Stephen Engle spoke to Former US Embassy Deputy Chief of Mission in Beijing Sarah Beran.