On Wednesday,
President Xi Jinping addressed American executives in San Francisco, expressing
China's readiness to be a partner and friend of the United States. The occasion
took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC)
forum, following a day of discussions between Xi and U.S. President Joe Biden.
The aim was to stabilize relations between the world's two largest economies.
Xi's speech conveyed
a message of reassurance and cooperation, as he emphasized the importance of
China-U.S. collaboration. He received a warm reception, with a standing ovation
upon entering the room and two more during and after his address.
The Chinese leader
stressed that the world needs China and the U.S. to work together, rejecting
the notion of viewing China as a threat or engaging in a zero-sum game. He
assured the audience that China does not seek hegemony, expansion, or spheres
of influence. Additionally, Xi emphasized that China is committed to peaceful
coexistence with the United States, regardless of global developments.
Amidst concerns and
skepticism in Washington, Xi's optimistic outlook on U.S.-China relations stood
in contrast to the prevailing sentiment. The event provided an opportunity for
U.S. companies to engage directly with China's leader, especially in light of
China's economic slowdown, evolving security regulations, and the U.S.
initiative to diversify some supply chains away from China.
Prominent figures from
U.S. corporate giants, including Apple, BlackRock, Broadcom, Bridgewater
Associates, and Pfizer, were in attendance at the dinner. Xi also met with
Tesla CEO Elon Musk, expressing support for the company's operations in China.
The high-security
dinner, attended by nearly 400 individuals, attracted attention and controversy
due to the reported high ticket costs. This prompted criticism from U.S.
officials and lawmakers, reflecting the broader concerns about U.S.-China
relations and China's policies.
Xi's speech, while
significant, is unlikely to dramatically shift U.S. business sentiment towards
China. The economic and geopolitical rivalry between the two nations has
increasingly placed companies in a delicate position, with both governments
scrutinizing their activities.
In summary, Xi's
appearance at the APEC dinner served as a strategic move, allowing China to
present a positive image and establish a direct connection with U.S. business
leaders. Despite the complexities and challenges, the event underscored the
significance of dialogue and engagement in shaping the future of China-U.S.
relations.