The high-stakes meeting between US President Joe Biden and Chinese President Xi Jinping hit its three-hour mark . The talks began at 4:41 a.m.
Bali, Indonesia (Indonesia), November 14 : The high-stakes meeting between US President Joe Biden and Chinese President Xi Jinping hit its three-hour mark.The talks began at 4:41 a.m.ET on the sidelines of the G20 summit in Bali, China's high-stakes meeting between Chinese President Xi Jinping and US President Joe Biden ended at 8:48 p.m. local time on Monday, according to Chinese state broadcaster CCTV.Ahead of the meeting, US officials said there was no set time limit but that they expected it to last a few hours.National security advisor Jake Sullivan told reporters aboard Air Force One en route Bali that the talks are unlikely to lead to significant breakthroughs or drastic shifts in the relationship, according to CNN.
Former President Donald Trump slapped tariffs on USD 50 billion in Chinese goods in June 2018, dissatisfied by Chinas huge export surplus and accusing it of stealing US intellectual property.According to CNN, Beijing responded with its own tariffs, and the downward spiral continued until a so-called truce was reached in 2020.Biden has quietly escalated the trade war instead of rolling back those measures.On Monday, US Treasury Secretary Janet Yellen said the meeting was intended to stabilise the relationship and lay the groundwork for bilateral economic cooperation. In recent years, China, with its almost USD 18 trillion economy, has been the chief catalyst for global growth.However, Covid lockdowns and a housing crisis have put an end to the organization's expansion this year, according to CNN.For decades, standard lines of communication existed between US officials and Chinese counterparts, but after House Speaker Nancy Pelosi visited Taiwan in July, most of those avenues were cut off.In this relationship, there is a lack of confidence.It would be nice to see Xi and Biden signal that it's time to resume contacts, but it would not be enough.