And Cleaned Up San Francisco
Before this recent meeting in San Francisco, It’s been a year since Chinese president Xi met with a US president. In that time, Xi met with Putin, the Saudi Prince, France, Germany, Brazil and more. China even cut military communications with the US because they were “angry” at Nancy Pelosi for going to Taiwan. Xi even skipped the G20 summit in New Delhi for the first time ever. The atmosphere online was talks of US decline, Yuan takeover, war and BRICS (remember those guys?).
The US and China relations are the worst they have been in a while. This is due to the ongoing economic warfare they have been waging on each other starting from the Trump administration. Biden would go on to continue the Trump era tariffs and double down by waging chip warfare on China.
Due to labor costs in China increasing, US China relations worsening and Americans wanting to bring manufacturing closer to home. A lot of companies looked at the situation and decided to reduce their Chinese exposure. This move partly caused Chinese exports to tumble.