Biden-Xi summit

The differing interpretations of de-risking by China and the United States highlight the profound unease with which they view the current state and trajectory of their economic relations.

The anti-U.S. narrative in Beijing has further deteriorated since the Bali Summit a year ago. So why is Xi pressing ahead for a sit down with the U.S. president?

Beijing and Washington have two different visions for what a “stabilized” relationship would look like, and they will be difficult to reconcile.  

Reducing misperception is key to avoid unrealistic expectations that might ruin the current process of diplomatic engagement. 

The circumstances are similar: a geopolitical rival hosting an international gathering Xi has never missed. 

What factors are behind the reframing of the relationship, and will it last?

Biden emphasized his wish to avoid conflict and “a new Cold War” with China.

It will be the two leaders' first face-to-face meeting since Biden took office.

The Chinese foreign minister stressed to his U.S. counterpart that Washington should not expect Beijing to change course.

The U.S. and Chinese presidents spoke for over two hours on Thursday at a time of heightened tensions in the relationship.

China-U.S. differences were on display, but both leaders also expressed a commitment to keeping tensions from erupting into conflict.

National Security Advisor Jake Sullivan's meeting with Yang Jiechi, China's top foreign policy official, was noticeably milder than their first talks.