Is Planet Earth big enough for the U.S. and China?
Our Global China Bridge team provides insight into the Biden-Xi summit at APEC 2023.
In the U.S. city of San Francisco, the Asia-Pacific Economic Cooperation (APEC) 2023 Summit was in full swing this week. Yet, the world's gaze was drawn to a private meeting between U.S. President Joe Biden and Chinese President Xi Jinping. The stakes were high, expectations low, and the fact that the meeting took place at all was seen as a victory in itself.
This encounter came on the heels of a trying period in U.S.-China relations, marked by Nancy Pelosi's visit to Taiwan and the infamous 'balloon incident'. All ahead of a divisive U.S. election cycle and amid a tough post-Covid economic reality in China. Despite these challenges, both nations showed a willingness to reintroduce guardrails into their relationship.
As the dust settles, the question remains: What did the U.S. and China achieve, and what does this mean for the geopolitical landscape and the wider business environment in 2024?
President Xi believes that "Planet Earth is big enough for the two countries to succeed". As our U.S. - China experts outline in our full report, only time will tell if this is true.