Managing America’s relationship with its biggest economic frenemy is one of US President Joe Biden’s toughest challenges.
So when he holds a virtual summit with President Xi Jinping later on Monday, issues like supply chains, subsidies and tariffs, a pullback in China’s vast property sector and the global energy crunch could feature prominently in discussions.
The United States and China remain codependent, as American consumers snap up products manufactured in Chinese factories and companies scramble for parts sourced from Asia.
Solving the climate crisis requires China’s cooperation, while Wall Street money managers are drawn by the market’s potential, even though many have been burned over the past year by a ferocious regulatory crackdown.
With this in mind, Biden is expected to emphasize the areas in which Beijing and Washington can cooperate.
But growing tensions over issues such as Taiwan, Hong Kong and human rights have also driven a wedge between the two countries and their economies, complicating the talks.
