Serrari Group

In a significant move towards stability in U.S.-China relations, President Joe Biden and Chinese President Xi Jinping met on the sidelines of the Asia-Pacific Economic Cooperation conference in San Francisco. The meeting, the first in approximately a year, conveyed a clear message of recalibration in the economic ties between the two global powerhouses.

For U.S. businesses, the summit provided much-needed clarity, alleviating uncertainty in their engagements with China. Jake Colvin, president of the National Foreign Trade Council, expressed optimism that the positive tone set during the meeting could lead to a “new normal” in the economic relationship. Anticipating a potential easing of tariffs and retaliations, Colvin emphasized the importance of China adhering to established rules.

During discussions, President Biden maintained firmness on export controls, but the White House readout emphasized a shared commitment to addressing the risks associated with advanced AI systems. Additionally, both leaders agreed to reinstate military-to-military talks, signaling a renewed communication channel that had been inactive for over a year.

Gabriel Wildau, managing director at Teneo, underscored the significance of the meeting for the business community. He noted that the meeting signaled that full decoupling is no longer on the table, and investment in China remains permissible, particularly in non-sensitive industries. Wildau highlighted that both leaders aim to avoid a negative spiral, opting for cooperation where their interests align.

Despite the Biden administration’s efforts to restrict U.S. investment in Chinese companies involved in advanced tech for military purposes, the broader scope of trade and consumer-related business appears largely unaffected. As the dust settles from this pivotal meeting, U.S. businesses cautiously anticipate a more stable and mutually beneficial economic relationship with China. The outcomes of the meeting suggest a strategic shift towards cooperation, echoing not only in corporate boardrooms but also on the global economic stage.

Photo (Doug Mills, AP)

By: Montel Kamau
Serrari Financial Analyst
22nd November, 2023

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023