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China is facing its most difficult economic conditions in decades, with falling foreign direct investment and U.S. export restrictions affecting its tech sector. In response, China is trying to export its way out of its economic troubles, glutting the world with cheap manufactured products and fueling a backlash from trading partners. The Belt and Road Initiative (BRI) faced criticism for promoting China's interests and creating debt traps, leading to adaptations in China's approach. The initiative was launched shortly after Xi got the top job, serving as a vehicle for him to brand himself as a global statesman and project China’s power and influence overseas. However, economic problems, domestic indebtedness, and external critique have reshaped the BRI, helping China cast itself as an alternative to the U.S. Chinese leader Xi Jinping's visit to San Francisco marked a shift in tone, signaling a conciliatory approach and a desire to welcome foreign businesses. The meeting between President Joe Biden and Xi was seen as productive, although an offhand remark by Biden raised concerns. The summit sought to address issues such as fentanyl production, arms control, and nonproliferation. However, concerns remain about human rights and the impact of Trump-era tariffs on Chinese goods. The meeting was seen as an opportunity to enhance communication and trust between the U.S. and China, amidst China's declining share of the global economy and efforts to export its way out of economic troubles. Additionally, a key point of discussion was the removal of a Chinese organization from a sanctions list to combat the fentanyl crisis, marking an unusual concession to Beijing. However, Biden and Xi remain far apart on the issue of Taiwan's independence. The meeting also recognized the potential return of Trump as the next president.
"The meeting on the various topics went as well as expected and, in a couple places, a little better than expected." @ianbremmer, president of @EurasiaGroup, joins @dianebrady on "Forbes Newsroom" to discuss President Biden's meeting with China's President Xi Jinping. https://t.co/zv9HZGtN8T
"Everybody [at the APEC Leaders' Meeting], not just the Chinese, recognized that Trump can easily become the next president." @ianbremmer, president of @EurasiaGroup, joins @dianebrady on "Forbes Newsroom" to discuss President Biden's meeting with China's President Xi Jinping. https://t.co/pCYwYDJeXL
"Everybody [at the APEC Leaders' Meeting], not just the Chinese, recognized that Trump can easily become the next president." Ian Bremmer, president of Eurasia Group, joins @dianebrady on "Forbes Newsroom" to discuss President Biden's meeting with China's President Xi Jinping. https://t.co/vCWhtkWIUh
"The meeting on the various topics went as well as expected and, in a couple places, a little better than expected." Ian Bremmer, president of Eurasia Group, joins @dianebrady on "Forbes Newsroom" to discuss President Biden's meeting with China's President Xi Jinping. https://t.co/fobBIFCx5P
Yellen says Biden, Xi remain far apart on Taiwan's independence post-APEC https://t.co/JGcu8XYIJO
The #BRI was conceptualised under the ethos of the #Chinese proverb, “If you want to get rich, build roads first”; however, #China is adapting its approach to a fast-changing world, writes @SamirApolitical https://t.co/R9Gw1NsgIJ
Over the last decade, #Chinese #economic problems, domestic indebtedness, and external critique have reshaped the #BRI, thus, helping #China cast itself as an alternative to the #US, argument Manoj Joshi https://t.co/a0oYKBihWk
.@USAmbChina Nicholas Burns recaps what @POTUS and People’s Republic of China President Xi Jinping discussed during their 4-hour meeting in San Francisco. https://t.co/9Otf5q1ZZ8
Just days after Chinese President XI Jinping's visit to the U.S. Rockefeller International Chair @ruchirsharma_1 tells @carlquintanilla, @davidfaber & @michaelsantoli that China's rise is reversing. “This is not a country that is going to grow at a rapid pace anytime soon.” https://t.co/P9ymPkK8wX
Biden-Xi meeting shows how times have changed for the US and China https://t.co/ZZSvTkMeAu via @BW
In Xiangshan last month, China portrayed US as an irresponsible leader, positioning itself as the alternative. Xi-Biden meeting saw agreements on issues like fentanyl, but fostering stable ties demands increased transparency & open dialogue. @sfexaminer https://t.co/GOaYOWVcJG
Yellen says Biden, Xi remain far apart on Taiwan's independence post-APEC https://t.co/ekDfC8TPaZ
#China’s inbound #FDI fell 9.4% on year in Jan – Oct, FDI in services sector slid 15.9% https://t.co/BoIEiSsT2X
Mexican President López Obrador’s talks with Chinese President Xi on fentanyl follow other recent steps that Mexico has taken to address the drug’s supply chain in recent months, @cculbertosborn writes. https://t.co/C0dVV5pvHm
Editorial: China and the U.S. should seize the opportunity presented by their recent meetings of their presidents to enhance communication and trust, and take advantage of these bilateral efforts to drive multilateral cooperation. https://t.co/xVEJGPonLg
The #BRI, which was launched shortly after Mr. Xi got the top job, also served as a vehicle for him to brand himself as a global statesman and project #China’s power and influence overseas, writes Harsh V. Pant & @kalpitm https://t.co/wlSpz6vJNJ
In light of the challenges facing the #BRI projects, it was imperative for #XiJinping to be seen as making amends; how these changes get reflected on the ground will shape the future of #BRI and #China’s credibility, highlights Harsh V. Pant https://t.co/YTHgK04Vg5
China saw 41,947 new foreign-invested firms established in the first 10 months of 2023, up 32.1% YoY. Foreign direct investment (#FDI) in the Chinese mainland in actual use totaled 987.01 billion yuan (about $137.6 billion) in the same period: Ministry of Commerce https://t.co/2j7WK2b7JU
Even though the tale of #Chinese munificence is marred by unsavoury ground realities, all eyes will be on the future of the Belt and Road Initiative, states Harsh V. Pant & @kalpitm https://t.co/wlSpz6vJNJ
Ahead of the anticipated #Biden-#Xi meeting, officials from both sides met in Washington for #arms control and nonproliferation talks, writes @raji143 https://t.co/nGJth27Ppt
U.S., China will seek to limit rising tensions amid domestic challenges, risk analyst says https://t.co/hpXzyHBJ8l
#China’s rise is reversing - FT China’s share of the global economy is declining, and most economists expect this to continue. "In 2022, China's share of the world economy shrank a bit. This year it will shrink more significantly, to 17%. That two-year drop of 1.4 per cent is… https://t.co/87L2HCK2aO https://t.co/4yK7AtEa8P
JOBOB: Chinese President Xi Jinping reaches deal with US to crackdown on fentanyl after spending mere days in San Francisco https://t.co/5yiNRuTA9b https://t.co/5yiNRuTA9b
As challenges for the #BRI are mounting, #Xi’s words at the forum were an explicit acknowledgment that changes in #Chinese approach would be necessary if the second decade of #BRI is to see more accomplishments, mentions Harsh V. Pant https://t.co/YTHgK05t5D
Chinese Foreign Minister Wang Yi on Saturday briefed the media on Chinese President Xi Jinping's talks with U.S. President Joe Biden and his attendance at the 30th #APEC Economic Leaders' Meeting in San Francisco. Wang, also a member of the Political Bureau of the Communist… https://t.co/fOyJt59WDL https://t.co/QLyHuSfIs9
Many Western and Asian diplomats, as well as outside experts, lauded Biden’s efforts to dial down tensions with China, though whether that meeting yields results remains to be seen, FP’s @RobbieGramer writes. https://t.co/GG9REVE64p
THREAD: Xi Jinping and Joe Biden meet for four hours on sidelines of APEC, agree to resume military exchanges, work together to control fentanyl production, and jump start people-to-people exchanges. Weak economy helps explain Xi’s conciliatory approach. https://t.co/WblKavZ6L4
One topic was almost completely avoided at the summit this week between US President Joe Biden and Chinese President Xi Jinping even with a key deadline looming in just about 6 weeks: the Trump-era tariffs on a range of Chinese goods. https://t.co/szpVPunBGc
In light of the challenges facing the #BRI projects, it was imperative for #XiJinping to be seen as making amends; how these changes get reflected on the ground will shape the future of #BRI and #China’s credibility, highlights Harsh V. Pant https://t.co/YTHgK05t5D
If you think the US is decoupling from China, think again. Look at the sharp rise in China's trade surplus with key "trans-shipment" hubs around the world. Stuff made in China is still heading to the US, just on a more circuitous route. There is no decoupling. Only relabeling... https://t.co/AAYZi49u3n
From @WSJopinion: Whatever the merits of this week’s summit between President Biden and Chinese President Xi Jinping, there was no reason for U.S. business leaders to trip over themselves to get in on the action https://t.co/AZmaWJStCV
On the architecture of engagement, the Biden-Xi summit was all about diplomacy and very little about shifting to an institutionalized model for deepening ties, observes @SRoach_econ. https://t.co/CEU2EHrJ7c
China is trying to export its way out of its economic troubles, glutting the world with cheap manufactured products and fueling a backlash from trading partners. Re-upping terrific piece by my colleagues @yifanxie and @TomFairless https://t.co/OtfvQLDFqM
Even though the tale of #Chinese munificence is marred by unsavoury ground realities, all eyes will be on the future of the Belt and Road Initiative, states Harsh V. Pant & @kalpitm https://t.co/wlSpz6whDh
With only 24 world leaders in attendance, compared to 37 who had attended the last forum, #Xi was keen to showcase that #China is open for #business at a time when concerns are rising about the health of the #Chinese #economy, writes Harsh V. Pant https://t.co/YTHgK05t5D
A US decision to remove a Chinese organization from a sanctions list as part of a deal to combat the fentanyl crisis marks an unusual concession to Beijing https://t.co/JKlB55cVfu
US President Joe Biden and Chinese counterpart Xi Jinping went on a one-on-one stroll on the grounds of the Filoli estate south of San Francisco, per Bloomberg: https://t.co/MHNNEzamQL
President Biden's meeting with President Xi was an attempt to defuse tensions between the U.S. and China. But some Uyghur Americans with family members imprisoned in China worry human rights won’t be prioritized in the countries’ relations. https://t.co/JTqIIF3jse
Ahead of the anticipated #Biden-#Xi meeting, officials from both sides met in Washington for #arms control and nonproliferation talks, writes @raji143 https://t.co/nGJth28nf1
Joe Biden and Xi Jinping have rediscovered the joy of talking. Good. Their meeting in San Francisco may have succeeded in putting “a floor” under the rivalry between America and China, though the test will come only with the next crisis https://t.co/pkFeZ5bDip 👇
At a time when he is facing growing headwinds, Chinese President Xi will use this meeting to present himself to the Chinese people as a statesman who is equal to the American president and can ably steer Chinese foreign policy, writes @DavidMSacks1. https://t.co/DH9yfQ9Ldi
The softer tone comes as China is facing its most difficult economic conditions in decades, foreign direct investment in China is falling, and U.S. export restrictions have hobbled parts of China's tech sector. https://t.co/82jlX9Xryy
Biden Fell For China’s Empty-Promises Playbook At The San Francisco Summit https://t.co/1xQw3tybPQ
China’s rise is reversing https://t.co/EpGLNJLVvX via @ft
China’s rise is reversing https://t.co/BG5KwZT0uA https://t.co/gvl7nawbRD
China’s rise is reversing https://t.co/EDmNr2CAxK
China’s rise is reversing https://t.co/msFddxAndR
China’s rise is reversing https://t.co/raKppCp0NQ
The #BRI was conceptualised under the ethos of the #Chinese proverb, “If you want to get rich, build roads first”; however, #China is adapting its approach to a fast-changing world, writes @SamirApolitical https://t.co/R9Gw1NsgIJ
Over the last decade, #Chinese #economic problems, domestic indebtedness, and external critique have reshaped the #BRI, thus, helping #China cast itself as an alternative to the #US, argument Manoj Joshi https://t.co/a0oYKBihWk
.@POTUS's summit with Chinese President Xi Jinping in San Francisco did not appear to bridge Chinese and American differences over the world’s two major ongoing conflicts. But the meeting was hardly a total loss, observes @RichardHaass. https://t.co/nqQKt0MfUg
Foreign direct investment is exiting China: „Foreign firms are not only declining to reinvest their earnings but—for the first time ever—they are large net sellers of their existing investments to Chinese companies and repatriating the funds.“ https://t.co/uxTrclb6ez
This week is an important one for US-China relations, with Xi visiting San Francisco for APEC and signs of lessened tensions after the meeting with Biden. With the aim of sharing information more widely, this edition of Trade War is free to read. Enjoy~ https://t.co/WblKavYyVw
The #BRI has been criticised by many for promoting #China’s selfish interests, encouraging corruption, and creating #debt traps for the indigent #GlobalSouth countries, notes Manoj Joshi https://t.co/a0oYKBiPLS
After what seemed a productive meeting between President Joe Biden and Chinese President Xi Jinping in San Francisco on Wednesday, an offhand remark by Biden could set back the relationship that the two leaders were working to mend https://t.co/LjOlOdryIi
Xi Jinping’s message that China wants to roll out the red carpet for foreign businesses stands in stark contrast to the increasing difficulties many companies experience on the ground https://t.co/1vEUKtGkc6
Biden is making a gamble against the backdrop of a high-stakes geopolitical game with China: that face-to-face diplomacy with Xi can start to build up some trust and help stave off the risk of a conflict between two superpowers, FP’s @RobbieGramer reports. https://t.co/GG9REVE64p
Chinese leader Xi Jinping adopted a more conciliatory tone this past week during his visit to San Francisco, the culmination of a year-long trend away from harsh rhetoric from top Chinese officials. https://t.co/zkFuIsnpQB