White House sets the scene for Xi-Biden talks via Yellen’s speech

The White House is preparing for President Biden’s APEC summit and meeting with Chinese President Xi Jinping. Biden aims to emphasize economic ties with China’s neighbors and China, signaling that relations don’t have to be defined by conflict.

The White House aims to convince other Indo-Pacific countries that the US is committed to long-term partnerships, as Biden expands US supply chains and reduces its reliance on China. Treasury Secretary Janet Yellen will address the Asia Society in D.C., stating that the US is deepening economic ties across the region and pursuing an approach called ‘friendshoring’ to strengthen economic resilience.

The Biden administration is preparing for Biden’s first meeting with Xi since November 2022, which is set for the sidelines of the Asia Pacific Economic Conference in San Francisco. Trade between the US and the Indo-Pacific region has increased over 25% since 2019, reaching $2.28 trillion in 2022. Biden has expressed his desire to continue trading with China, and his China policy extends beyond the economic sphere.