21.7 C
Washington

Opinion | The Biden-Xi Truce of the Moment

Date:

Share:


President Biden met Chinese President Xi Jinping on Wednesday in California, and the atmospherics suggested a new era of bilateral good feelings. But no one should be fooled that this is anything other than an era of intense competition, or that Mr. Xi is giving up his ambition to upend the U.S.-led international order.

Both sides have reasons at the moment to appear to be getting along better. Mr. Xi needs foreign investment and export markets to offset the real-estate crash and excessive debt that are slowing China’s economy. He wants a respite from further economic sanctions or U.S. limits on the sale of technology to Chinese firms. He’s put Beijing’s “wolf warrior” diplomats in the closet for now, though they could return at any time.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link

Subscribe to our magazine

━ more like this

The best Kindle deals available for Amazon Prime Day 2024

It’s no secret that Amazon sells some of the most popular e-readers on the market. Every Kindle I’ve ever tested has been snappy...

You can now tap your retirement account for a $1,000 emergency. But be careful

Between the soaring cost of living and sky-high interest rates, average Americans are strapped for cash, making it difficult to save for emergencies—or...

How to Embrace the Glorious Mess of Everyday Life – Tiny Buddha

“Embrace the glorious mess that you are.” ~Elizabeth Gilbert Let’s begin with a simple fact: life is inherently messy. Despite our best efforts to...

The Philadelphia Airport just recorded snowfall–in July

Las Vegas hit record highs of 120 degrees earlier this month and areas along the east coast are currently under extreme heat warnings,...

Mortgage prequalification vs. preapproval: Which is best?

Getting prequalified or preapproved for a mortgage can be two important steps when you want to buy a home. You’ll find out approximately...