Update(1052ET): Throughout President Biden’s Q& Some of his post Xi meeting presser, he required just a few questions, during which time he stressed that he and the Chinese language president understood each other nicely. “ There need not be a new Cold War… We were candid and crystal clear with one another across the board. ”
Addressing the key geopolitical flashpoint between the rival nuclear-armed superpowers, Biden said he doesn’t think that China will invade Taiwan:
“ I do not think there’s any imminent attempt of China to invade Taiwan. We want cross-strait problems to be resolved, ” he said.
He called the meeting “ direct plus straightforward” – while saying that on Taiwan and “ every issue that was raised” they will maintain open ranges of communication. He confirmed that Secretary of State Blinken will later go to China as a follow-up in order to Monday’s G20 summit conversations.
As for the official readout from the Chinse stated, it too stressed that will “ differences” between the two countries should not become an obstacle to cooperation on key fronts. “ It is in our mutual and fundamental interest to prevent conflict plus confrontation and achieve relaxing coexistence. The two economies are usually deeply integrated, and both face new tasks within development, ” Xi stated. He said the world is big enough for the two to develop and prosper .
As for the Taiwan question, Xi stressed that this is “ the bedrock of the political foundation of China-US relations, and the first red line that must not be crossed in China-US relations . ”
Further, the readout via China’s Foreign Ministry stated, “ Their financial teams can continue dialogue and dexterity on macroeconomic policies, financial ties and trade They will agreed to make good technique China-US joint working team to promote the resolution of more issues Both edges agreed that cultural exchange is very important and encourage in order to enlarge the personnel trades in all areas. ”
Bloomberg noted Chinese stocks listed in the US prolong their gains in premarket trading upon the conclusion from the three-and-a-half hour meeting.
* * *
The particular high-stakes G20 Bali conference between President Biden and Chinese leader Xi has concluded after three hours on Monday , having begun at four: 41am ET/5: 41pm local time. Two cabinet-level authorities were included seated on Biden’s side – Secretary of State Antony Blinken and Secretary from the Treasury Janet Yellen, using the former official having earlier called China the “ most serious extensive challenge to the international order. ” Furthermore at the table wasnational protection adviser Jake Sullivan.
Within opening remarks going into the meeting President Xi Jinping had said , “ Currently the China-US relationship is in such a scenario that we all care a lot about it, because this is not the fundamental interest of our two countries and peoples, and it is not really what the international community needs (from) us. ”
“ As frontrunners of the two major countries we need to chart the right course for the US-China romantic relationship , ” Xi additional. “ In this time and age great changes are unfolding in ways like no time before, humanity is confronted with unparalleled challenges, the world has come to a crossroads. ”
“ Where to go from here is a question that is not just on our minds, but also at the minds of all countries. ” the Chinese leader anxious.
The particular White House has signaled there are no plans in making fundamental concessions to Xi, nor are there any expected main breakthroughs, also as the battle on Ukraine overshadows the girls of 20 summit. Here’s how the meeting started as the two leaders joined the room :
“ Good to see you, ” Biden said to Xi before these people joined US and Chinese officials. The two sides sitting at long conference dining tables with a display of flowers between them.
“ All of us share a responsibility, inside my view, to show China as well as the United States can manage our own differences , prevent competition from coming anywhere near conflict, and find ways to are more effective together, ” Biden believed to kick off the talks.
Regarding Xi, he agreed on the particular “ need to find the right direction” and “ elevate the connection. ” Among the chief international policy issues discussed were Ukraine, Taiwan, and North Korea . All eyes have been on China’s continued resistance to Western stress on Ukraine, given Beijing has never once condemned the particular invasion, while at the same time has called for negotiations and the avoidance of escalation.
On trade and the economy, CNN reported , “ Speaking with reporters in Bali, US Treasury Secretary Jesse Yellen said the meeting was intended to stabilize the relationship and expressed hopes that it would lay the research for bilateral economic wedding. ”
China’s Foreign Ministry immediately following the particular meeting described the lengthy conference as including a “ candid and in-depth exchange of views. ”
The White House readout issued within an hour of the meeting concluding declared that Biden stressed preparedness to “ compete vigorously with the PRC, including by investing in sources of power at home and aligning initiatives with allies and partners around the world, ” however reiterated that this “ competitors should not veer into conflict and underscored which the United States and China must manage the competition reliably and maintain open lines of communication. ”
And more, the per the White House :
President Biden underscored that america and China must work together to address transnational challenges – such as climate change, global macroeconomic stability including debt relief, health safety, and global food safety – because that is what the international community expects. The two leaders agreed to empower key senior officials to maintain conversation and deepen constructive efforts on these and other issues. They welcomed ongoing efforts to address specific issues in Oughout. S. -China bilateral relationships, and encouraged further progress in these existing mechanisms, including through joint working groups. They also noted the importance of ties between the people of the United States and the PRC.
On China’s human rights record and the Taiwan issue , President Biden said the following:
President Biden elevated concerns about PRC practices in Xinjiang, Tibet, and Hong Kong, and human rights more broadly. On Taiwan, he laid out within detail that our one China policy has not transformed, the United States opposes any unilateral adjustments to the status quo by possibly side, and the world has an interest in the servicing of peace and balance in the Taiwan Strait. He raised Oughout. S. objections to the PRC’s coercive and increasingly intense actions toward Taiwan, which undermine peace and stability across the Taiwan Strait and the broader region, plus jeopardize global prosperity. President Biden also raised ongoing concerns about China’s non-market economic practices, which harm American workers and families, and workers plus families around the world.
Concerning the most anticipated hot button concern, Russia’s ongoing military offensive in Ukraine :
President Biden raised Russia’s brutal war against Ukraine and Russia’s irresponsible threats of nuclear use. President Biden and President Xi reiterated their agreement that a nuclear war should not be fought and can by no means be won and underscored their opposition to the make use of or threat of use of nuclear weapons in Ukraine . President Biden also raised problems about the DPRK’s provocative behavior, noted all members of the international community have an interest in encouraging the DPRK to act responsibly, and underscored the United States’ ironclad commitment to defending the Indo-Pacific Allies.
Thus the two sides reiterated their agreement how the Ukraine crisis should never achieve the point of spiraling toward nuclear rhetoric or war.
From the Chinese side, the first statement at the conclusion of the meeting issued via Xinhua said “ China and the United States should take history as a mirror and let it guide the future. ”
* * *
Below are headlines previewing the issues of the law and that were under debate via Newsquawk :
- US President Biden says US and China can manage differences and stop competitors from turning into conflict, expects US and China to play a role in address weather and food shortages.
- Chinese President Xi says has stayed in touch with US President Biden through video but it is no alternative to in-person meetings, both nations need to chart their course and find the right direction for that relationship and elevate this. Prepared to have a candid plus in-depth exchange of views on the US-China relationship.
- The White House said further engagement after the Biden-Xi meeting could consist of face-to-face meetings, according to Reuters.
- Stated prior to the meeting US President Biden will make it clear within the meeting with Chinese President Xi that the US does not look for competition or conflict, as well as the meeting could last “ a couple of hours”, according to Reuters citing the White Home National Security Adviser Sullivan.
- Stated before the meeting US President Biden underscored that freedom associated with navigation and overflight should be respected in the East Tiongkok Sea and the South China Sea, via Reuters.
- US President Biden will raise the issue of North Korea with Chinese language President Xi at the G20 Summit, according to the White Home. Biden will tell Xi that if North Korea continues, there will be more enhanced US military presence in the region. Blackrock (BLK) has shelved its China bond ETF amid growing tensions between the ALL OF US and China alongside the reversal in the China-US yield differential, according to FT.
- US Treasury Admin Yellen will ask for clearness on China’s plans to help relieve COVID restrictions alongside problems in the Chinese property market, in a meeting with the PBoC Governor, according to Treasury authorities cited by Reuters.
- US Treasury Admin Yellen said the US will probably discuss export controls with Chinese officials, according to Bloomberg.
The White House has confirmed that Biden and Xi agreed Secretary associated with State Blinken will later visit China as a follow-up to Monday’s G20 summit discussions.