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BBG: Xi To Meet "Top US Business Execs" In San Francisco

US-CHINA

Bloomberg reports that, according to sources who "aren't authorised to speak," Chinese President Xi Jinping, "is set to attend a dinner with top US business executives when he visits San Francisco for the Asia-Pacific Economic Cooperation summit next week"

  • Bloomberg: "Hundreds of people are expected to attend the dinner, including chief executive officers of major US companies."
  • Bloomberg notes that, "high on the list of priorities for Xi during his US visit is calming foreign investors. Recent surveys show western executives in China are increasingly nervous about doing business there..."
  • The APEC Summit, which will be the first contact between Xi and President Biden in a year, may serve as a major recalibration of economic ties between Beijing and Washington. In recent months, China has appeared more receptive to the Biden administration strategy to separate national security priorities from commercial ties.
  • Treasury Secretary Janet Yellen wrote in an op-ed for the Washington Post yesterday that the US wants a "pragmatic" relationship with China, "one that protects our vital national security interests while seeking a stable and healthy economic relationship."
  • Yellen wrote: "Our goal is not to trigger a disorderly, wholesale private-sector pullback from China. As I said in Beijing in July, there is an important distinction between diversifying our supply chains and decoupling our economies."

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