China President Xi satisfies Biden for the 1st time in a calendar year

China President Xi satisfies Biden for the 1st time in a calendar year


President Xi on U.S. relations: One country's success is an opportunity for the other

BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping met Wednesday outdoors of San Francisco in their very first experience-to-facial area encounter in a 12 months.

The summit, on the sidelines of the Asia-Pacific Economic Cooperation convention, adopted efforts involving the U.S. and China to raise high-stage communication amid continued tensions.

“We have to ensure that competition does not veer into conflict,” Biden said at the start of the summit. “Critical international troubles we experience, from weather modify to counternarcotics to artificial intelligence, need our joint initiatives.”

Biden and Xi were commonly anticipated to focus on troubles these as curbing fentanyl flows into the U.S., safe use of synthetic intelligence, and U.S. limits on Chinese access to large-stop tech.

“For two substantial nations like China and the United States, turning their back again on each other is not an possibility,” Xi claimed in his opening remarks. “World Earth is huge more than enough for the two nations around the world to realize success.”

U.S. President Joe Biden fulfills with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. 

Kevin Lamarque | Reuters

Signals of goodwill concerning the nations have picked up in modern times.

In the several hours prior to the planned summit, the U.S. and China reaffirmed their determination to cooperate on local climate difficulties.

More direct flights concerning the U.S. and China are resuming from a reduced foundation.

Past month, Chinese commodity importers signed the 1st agreements because 2017 to purchase U.S. agricultural items in bulk, in accordance to a information launch from the American embassy in Beijing.

China’s Ministry of Commerce very last week announced it was gathering facts in an work to address unequal treatment of international businesses in China in contrast with remedy of domestic firms — which has been a longstanding business enterprise grievance.

The Chinese governing administration may possibly also use the summit as an opportunity to announce a commitment to resuming purchases of Boeing‘s 737 Max plane, Bloomberg News reported, citing resources.

Boeing declined to comment.

Go through extra about China from CNBC Pro

Xi arrived in the U.S. on Tuesday nearby time. It is his initially vacation to the United States considering the fact that 2017, when he frequented then-President Donald Trump at his Mar-a-Lago club in Florida.

The final time that Xi satisfied Biden in person was in the Indonesian island resort of Bali in November 2022. That was Biden’s initially meeting with the Chinese leader as American president.

Biden is working for reelection following calendar year.

Xi cemented his ability in March by formally gaining an unparalleled third term as president.

— CNBC’s Rebecca Picciotto contributed reporting



Resource

Chinese stocks are on fire this year, drawing big interest from foreign and domestic investors
World

Chinese stocks are on fire this year, drawing big interest from foreign and domestic investors

When Hou Yujie isn’t convincing customers to rent traditional Chinese clothing for photos at the country’s famous Forbidden City, she and her friends are checking stocks. Hou recently put 10% of her money in the market. In just a few days, she earned one month’s salary — and she’s thrilled.  “Interest rates for bank deposits […]

Read More
U.S. pharma tariffs spare India’s generic drugmakers — but leave investors jittery
World

U.S. pharma tariffs spare India’s generic drugmakers — but leave investors jittery

MUMBAI, INDIA – MARCH 3: A technician works at a Cipla laboratory March 3, 2002 in Vikhrohi, Mumbai, India. Jean-marc Giboux | 3rd Party – Misc | Getty Images Stocks of leading Indian drugmakers fell on Friday, even though the 100% U.S. tariffs on branded and patented drug imports are unlikely to affect these companies. […]

Read More
Core inflation rate held at 2.9% in August, as expected, Fed’s gauge shows
World

Core inflation rate held at 2.9% in August, as expected, Fed’s gauge shows

Core inflation was little changed in August, according to the Federal Reserve’s primary forecasting tool, likely keeping the central bank on pace for interest rate reductions ahead. The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%, the Commerce Department reported Friday. Excluding food […]

Read More