I'm wondering about the future of US-China relations. The current high-level meetings between Biden and Xi and others seem like possible signs of an improving situation. The Financial Post says, "Long-frosty U.S.-China relations show only tentative signs of warming."
I've read several places that one reason for a warming relationship is that China is facing economic problems.Financial Post wrote:A chief executive summit on the sidelines of the Asia-Pacific Economic Cooperation meeting will coincide with the most challenging trade climate in a generation. Washington is trying to prevent China from acquiring high-end computer chips and has imposed curbs on U.S. investment there. Beijing has responded by jump-starting its own chip efforts and exhorting citizens to buy locally made phones and other products. From tech to logistics, oil and gas to finance, companies are struggling to maintain access to Chinese consumers even as they try to navigate a growing list of regulations, tariffs and export controls.
Some of the biggest names in American business are scheduled to attend the summit, among them Citigroup’s Jane Fraser, Exxon’s Darren Woods, Microsoft’s Satya Nadella and Tesla Inc. and SpaceX’s Elon Musk. A number of executives have been invited to dine with Xi, according to people familiar with the plans, a chance for them to air their concerns and ambitions in a less formal setting.
Seems like it is clearer than ever that the US and China need each other.“What we’re trying to do is change the relationship for the better,” Biden told reporters Tuesday at the White House, shortly before departing for San Francisco, where he’s set to meet Xi on Wednesday. Biden said that he believed the Chinese people were “in trouble right now economically.”