President Biden met with Chinese President Xi Jinping on Wednesday in California, and the atmosphere suggested a new era of bilateral good feelings. But let no one be fooled that this is anything other than an era of intense competition, or that Mr. Xi is giving up his ambition to overturn the US-led international order.
Both sides have reasons these days to appear to be getting along better. Mr. Xi needs foreign investment and export markets to offset the real estate crash and excessive debt that are holding back the Chinese economy. He wants a break from further economic sanctions or US restrictions on selling technology to Chinese firms. He put Beijing’s “wolf warrior” diplomats in the closet for now, although they could return at any time.
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(tagsTo Translate)Asia Pacific