The chapter discusses the recent APEC meeting during the Biden-Xi summit, highlighting its success simply because it took place and both leaders agreed to talk. It mentions interesting moments like Joe Biden calling Xi Jinping a dictator and the reaction of Anthony Blinken, while emphasizing the normalcy of the meeting compared to earlier discussions. The chapter discusses the implications of the summit for investors, touching on restrictions on Alibaba's cloud unit, various military tensions, and agreements on military exchanges, fentanyl, and increasing flights between the US and China.

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