President Joe Biden has held his first face-to-face meeting with the Chinese leader, Xi Jinping, on the sidelines of the G20 summit of world leaders in Bali.
The meeting, which lasted over three hours, comes at a time when the relationship between the two superpowers is at an all-time low. US and China have profound differences over Taiwan and the war in Ukraine, but both presidents Biden and Xi Jinping were willing to halt the slide to chart the right course for the US-China relationship.
At the press conference, Biden said he had “an open and candid conversation about our intentions and priorities” with the Chinese leader.
“We’re going to compete vigorously. But I’m not looking for conflict, I’m looking to manage this competition responsibly,” clarified Biden.
Biden and Xi Jinping have met many times and know each other well which assured a level of familiarity between them. The last time they’ve met was more than 5 years ago, in 2017, during World Economic Forum in Davos.
Biden said that the US policy over Taiwan “has not changed” and that his administration continues to oppose “unilateral change in the status quo by either side.” He also said that he does not think there’s any “imminent attempt” by China to invade Taiwan.
The two leaders, Biden revealed, talked about the war in Ukraine and agreed that “the use of nuclear weapons is totally unacceptable.”
On North Korea, Biden said that he is not sure that China can control Kim Jong-un’s actions in any way but that he made it clear to President Xi Jinping that China has “an obligation to attempt to make it clear to North Korea that they should not engage in long-range nuclear tests.”
Biden said he is confident that China is “not looking for North Korea to engage in further escalatory means.”
The meeting, according to the White House, started at 5:48 pm and ended at 8:48 pm. There was about a 25 minute break in between.
DC Blockchain Summit: US government officials emphasize the importance of privacy and accountability in the adoption of digital assets
The cryptocurrency industry is continually evolving and expanding, making it critical to understand the perspectives of US government officials who shape the legal landscape. At the DC Blockchain Summit, Sanjeev Bhasker, US Digital Currency Counsel at the Digital Currency Initiative of the DOJ’s Money Laundering and Asset Recovery Section/NCET, Matt Cronin, Director of National Cybersecurity…Keep reading
CFTC Commissioners Mersinger And Johnson Advocate For Global Regulatory Harmony In Cryptocurrency
At the DC Blockchain Summit, Summer Mersinger, Commissioner of the US Commodity Futures Trading Commission, stated that the CFTC and SEC must collaborate to establish a framework for the classification of digital tokens. In the words of Kristin Johnson, another Commissioner of the US Commodity Futures Trading Commission, legal terms are crucial to the market,…Keep reading
DC Blockchain Summit Sees Congressman Tom Emmer Calling For The Protection Of Financial Privacy In The Age of Digital Assets
The DC Blockchain Summit, hosted by the Chamber of Digital Commerce, kicked off in Washington DC today. Throughout the full day of meetings, experts from the government and private sector convened to discuss the current state and future prospects of blockchain technology, digital assets, and decentralized finance (DeFi). With topics ranging from the regulatory environment…Keep reading