US-China meeting a chance to ‘reset’ ties even as Xi Jinping’s third term poses challenges ahead: Hillary Clinton

Speaking via video link during the Bloomberg New Economy Forum in Singapore, Clinton said Xi would find in Biden “a receptive partner” and the meeting would be a chance for the two superpowers to “reset the table”.

“Once Xi decides to stay in office for life, that creates a lot of challenges within their own system. And I think we’re seeing some of that with the removal of top officials … how do you deal with somebody who’s not going to be held accountable?” Clinton, said, referring to Xi’s decision earlier this year to continue in office for an unprecedented third term.

The Xi-Biden meeting would build confidence amid frosty relations, but it would need to be followed up with further dialogue, she said.

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During earlier discussions at the conference, other world leaders expressed concerns over the tense relations between the United States and China.

US business leaders also see a need for not just more dealings and trade between the two nations, but healthy competition, the conference heard.

“Rather, the US’ strategy should be how do we become better at being a competitor? How do we strengthen American business and American innovation to beat the Chinese on a global stage?”

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Cutting off China to goods such as semiconductor chips through policies such as the Chips Act, instead of competing healthily, was only going to inspire China to “double down” on ramping up its research and development, Griffin said at the conference.

“If we are going to withhold but not put our house in order, that’s a huge mistake because once they catch us, they’re going to lap us,” he added.

Griffin said where necessary, the US should continue to trade with China, but they must be tied to a set of domestic policies that “create long-term American competitiveness”.

“And we haven’t done the second part of the equation,” he said.