Xi-Biden meeting charts course for China-US relations

BY PR Newswire | ECONOMIC | 11/23/22 09:00 AM EST

BEIJING, Nov. 23, 2022 /PRNewswire/ -- A news report from China.org.cn on the Chinese and U.S. presidents' first in-person meeting during the G20 summit in Bali:

On the afternoon of Nov. 14, Chinese President Xi Jinping and his U.S. counterpart, Joe Biden, met in Bali, Indonesia on the sidelines of the G20 summit for their first in-person meeting since President Biden took office. The two leaders smiled and shook hands, sending a message to the world that despite differences and competition the two countries are not bitter enemies.

The communication was comprehensive, candid and in-depth.

It was "comprehensive"?and "in-depth"?because the two heads of state engaged in deep discussions on China-U.S. relations and many major regional and international issues. Both sides made gestures of goodwill. China stated that it does not seek to change the existing international order, and has no intention of challenging or displacing the United States. Meanwhile, the U.S. side said that it does not seek to change China's system; does not seek a new Cold War or to revitalize alliances against China; does not support "Taiwan independence," "two Chinas"?or "one China, one Taiwan"; has no intention to enter into conflict with or seek "decoupling"?from China; and has no intention to halt China's economic development or to contain China.

The discussion was also "candid"?because both parties faced problems? squarely and made their intentions clear. China truly expects the United States to deliver on its commitments concerning bilateral ties.

During the meeting in Bali, the two leaders agreed that China and the United States should build a relationship featuring non-conflict, non-confrontation and peaceful coexistence. They agreed that U.S. Secretary of State Antony Blinken will visit China at an early date and the teams of the two sides will follow up on the subsequent work of the meeting and take practical measures to implement the important consensus reached by the two heads of state, discuss the guiding principles of China-U.S. relations, manage differences and stabilize bilateral ties, and actively cooperate to promote the post-COVID global recovery, tackle climate change and resolve regional issues.

Since U.S. President Richard Nixon's visit to China 50 years ago, China-U.S. relations have been driven by interests, that is, the two countries share common interests in survival, development and global governance. Decades on, it is still true that both countries gain from cooperation and lose from confrontation. The facts have also proved that common interests are the only basis for future China-U.S. relations.

But then again, given the decades of ups and downs in the development of China-U.S. relations, we will harbor no illusions that everything will go well in the future. Differences, competitions and contentions between the two sides are inevitable. But as long as both sides take the consensus reached at this meeting as a guideline, the two countries can find the right way to get on with each other, so that the relationship will continue to benefit both countries and the world as a whole.

(Special thanks to Mr. Tao Wenzhao, a senior fellow at the Institute of American Studies of the Chinese Academy of Social Sciences)

China Mosaic


Xi-Biden meeting charts course for China-US relations


Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/xi-biden-meeting-charts-course-for-china-us-relations-301685967.html

SOURCE China.org.cn

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.