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Joe Biden and Xi Jinping meet at a summit in the USA

Joe Biden, President of the United States, and Xi Jinping, President of China, are currently meeting in the small village of Woodside, in the city of San Francisco, California, where they are participating in a bilateral meeting on the sidelines of the Cooperation Leaders’ Summit Asia-Pacific Economic (APEC).

Presidents of China and the United States, respectively Xi Jinping and Joe Biden, meet in California, USA

The last time the two met in person was a year ago, in Bali, Indonesia.

It is also Xi Jinping’s first visit to the US since 2017, when he was received by then-President Donald Trump at the billionaire’s Mar-a-Lago resort in Florida.

The two presidents should address strategic issues in defining relations between China and the US, such as issues relating to world peace and development, Chinese Foreign Ministry spokesperson Mao Ning said on Monday.

China views and conducts its relations with the US in accordance with the three principles of mutual respect, peaceful coexistence and cooperation proposed by Xi Jinping, according to the spokesperson.

San Francisco is the host city for APEC Leaders Week 2023, November 11-17, with the theme “Creating a Resilient and Sustainable Future for All”.

Meeting amid tensions

The White House says the summit aims to boost communication to prevent an intense rivalry from turning into conflict.

The meeting is expected to cover global issues, from the conflict in the Middle East to Russia’s invasion of Ukraine, North Korea’s ties to Russia, Taiwan, human rights, artificial intelligence, as well as “fair” trade and economic relations. ”.

Biden is also expected to tell Xi that the US remains committed to supporting its allies and partners in the Indo-Pacific in the face of Chinese pressure against democratically governed Taiwan, which China claims as part of its territory, and in South and East China Seas.

He must also express a specific commitment to the security of the Philippines, according to American officials.

How the meeting will impact the markets

Market participants should remain focused on negotiations to gauge sentiment between the two governments.

The 21 members of APEC – and the entire world – have no hope of an easing of tensions between the US and China.

Progress in this regard would be seen positively, but political analysts say any improvement in the relationship could only be temporary.

Elections in Taiwan early next year and the US presidential vote in November 2024, which could bring Trump back to the White House, promise a year full of uncertainty.

*With information from David Brunnstrom and Michael Martina.

Source: CNN Brasil

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