Summary of the podcast episode

The recent summit between Chinese President Xi Jinping and US President Joe Biden resulted in agreements to resume military communications, cooperate on artificial intelligence, and address the fentanyl crisis. Overall, the Biden administration achieved its goal of stabilizing the deteriorating relationship and making practical progress on key issues. However, potential flashpoints such as the Taiwan election and ongoing tensions in the South China Sea could once again strain the relationship. Both the US and China face domestic pressures, with Congress taking an active role in shaping China policy and China grappling with economic challenges. The US business community remains hopeful for better economic ties, but is cautious given the uncertainties. Moving forward, the US-China relationship will be defined by cyclical warming, with structural competition and challenges persisting in the long term.