APEC Summit: ‘Under Xi, China has real problems’, says US President Joe Biden | Mint
Active Stocks
Tue Feb 27 2024 15:57:55
  1. State Bank Of India share price
  2. 749.70 -1.23%
  1. Tata Steel share price
  2. 144.15 1.09%
  1. Power Grid Corporation Of India share price
  2. 292.50 1.65%
  1. Sun Pharmaceutical Industries share price
  2. 1,579.10 1.42%
  1. ITC share price
  2. 411.15 0.48%
Business News/ News / World/  APEC Summit: ‘Under Xi, China has real problems’, says US President Joe Biden

APEC Summit: ‘Under Xi, China has real problems’, says US President Joe Biden

US President Joe Biden said that China has real problems as he prepared to meet Chinese President Xi Jinping for the APEC summit in San Francisco.

US Vice President Joe Biden (R) shakes hands with Chinese Vice President Xi Jinping. (AFP)Premium
US Vice President Joe Biden (R) shakes hands with Chinese Vice President Xi Jinping. (AFP)

‘China had real problems’, said US President Joe Biden as he prepared to meet his Chinese counterpart Xi Jinping for the 30th Asia Pacific Economic Cooperation (APEC) summit in San Francisco aimed at repairing ties between the two nations. 

Speaking at a fundraising event here, Biden said, “President Xi is another example of how reestablishing American leadership in the world is taking hold. They've got real problems."

The two leaders will meet at Filoli Estate, a country house museum about 25 miles (40 kilometers) south of San Francisco, said three senior administration officials, on the condition of anonymity to discuss the venue. The venue had not yet been confirmed by the White House and the Chinese government.

Biden arrived at San Francisco International Airport on Tuesday afternoon and Xi landed shortly after. The Chinese president was welcomed on the tarmac by Treasury Secretary Janet Yellen, California Gov. Gavin Newsom, and US Ambassador to China Nicholas Burns.

US-China pledge climate cooperation ahead of Biden-Xi meet

The United States and China on Wednesday pledged to work more closely together to fight global warming and declared that the climate crisis is “one of the greatest challenges of our time", AFP reported. 

The announcement came ahead of a summit between presidents Joe Biden and Xi Jinping in San Francisco. It further fuelled hopes that the two nations could mend relations following years of turmoil over issues including trade, human rights, and the future of Taiwan.

In a joint statement, the United States and China recognize that the climate crisis has increasingly affected countries around the world. 

“And they re-committed to the 2015 Paris climate accord goals of holding global warming to well below 2C while pursuing efforts to limit the increase to 1.5C. They will work together... to rise up to one of the greatest challenges of our time for present and future generations of humankind," the statement read. 

The two sides agreed to develop their respective methane reduction targets for inclusion in their 2035 emission-cutting plans, known as Nationally Determined Contributions, or NDCs. 

Biden-Xi meet: What to expect?

- The White House highlights the summit's objective as 'enhancing communication to prevent potential conflict between the two nations'. Anticipated topics encompass global concerns spanning conflicts in the Middle East and Russia's actions in Ukraine to North Korea's connections with Russia, Taiwan, human rights, artificial intelligence, and trade relations.

- Biden is poised to affirm the US's commitment to supporting Indo-Pacific allies, specifically mentioning Taiwan amidst Chinese pressure. Security commitments to the Philippines will also be underscored.

- Washington seeks concrete outcomes, including progress in restoring military ties and combatting the trade of fentanyl, a harmful synthetic opioid in the US. An agreement on fentanyl could entail lifting human rights sanctions on China's police forensic institute.

- With Taiwan's 2024 elections looming, China seeks assurances from the US against fostering pro-independence sentiments. Additionally, China aims to ease tariffs and export controls on advanced semiconductors. The leaders might discuss enhancing commercial flights and potentially easing journalist visa restrictions, benefiting both nations.


(With inputs from agencies)

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Nov 2023, 11:12 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App