China’s President Xi Jinping is scheduled to be the guest of honour at a dinner with top US business execs in San Francisco during the Asia Pacific Economic Summit next week.
This could be a major step forward for China’s struggling economy to win back foreign investors. There has been a major withdrawal of foreign investment in the country as global companies look to diversify their production processes into other Asian countries to reduce risks, for example, Apple moving some iPhone manufacturing lines to neighbouring Asian countries like India and Vietnam.
The US and China have been working towards stabilising their historically embattled relationship which was exacerbated by the former Trump administration.
Showing a unified, cooperative economic development approach of the two largest global superpowers, could be the start of economic stability for smaller economies heavily reliant on US and Chinese trade.