• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
PoliticsU.S. foreign policy

Biden, Xi to hold virtual summit Monday as tensions between the U.S. and China rise

By
Jenny Leonard
Jenny Leonard
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Jenny Leonard
Jenny Leonard
and
Bloomberg
Bloomberg
Down Arrow Button Icon
November 12, 2021, 12:49 PM ET
Add Fortune on Google for similar content.

President Joe Biden will meet virtually with Chinese President Xi Jinping on Monday in a discussion designed to prevent a misunderstanding that could lead the rivals to a military conflict, a senior U.S. administration official said.

While the summit comes at a time of high stakes in the relationship, the Biden administration has continuously sought to downplay expectations for the meeting by stressing that the U.S. won’t ask for specific outcomes.

The talks come as tensions between the two countries have been building over issues including Taiwan and restrictions on sales of U.S. technology to China. The Biden administration has elevated the discussions to the two presidents after months of lower-level talks proved unsuccessful.

Biden and Xi have spoken on the phone twice this year, but this is the first time the conversation is being billed as a summit. The last U.S.-China summit in 2019 produced a breakthrough in Donald Trump’s trade war right before the pandemic hit. U.S.-China relations plunged soon afterward over a range of disputes including the origin of COVID-19, human rights in Hong Kong and Xinjiang, and national security threats posed by Chinese companies.

However, tensions eased a bit following a breakthrough on one key issue important to Beijing: the September release of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou from extradition proceedings in Canada. The U.S. had sought Meng’s extradition since the Trump administration and the issue became a major irritant in U.S.-China ties.  

On other topics, working groups set up by both sides have made some progress over the last month on minor issues in the relationship that have been lingering for months. 

The virtual summit is set for Monday evening Washington time—Tuesday morning in Beijing—and the two sides are not expected to issue a joint statement after.

A main driver for the talks is the need for both sides to establish guardrails that ensure competition does not become conflict, according to the official. Biden will stress the need for such an approach in his conversation with Xi, though it’s not clear what specific measures he’ll seek.

A senior administration official said the U.S. believes that when the terms of the relationship are established, vigorous competition can be sustained.

Climate deal

Special Climate Envoy John Kerry this week concluded an agreement with Beijing at the climate summit in Glasgow. The timing for the deal was not seen as linked to the upcoming summit between Biden and Xi.

U.S. officials have long cited climate as an area of cooperation but stressed that any progress there could not be linked to other aspects of the bilateral relationship. While the joint climate statement is seen as a step forward, more work remains and Biden is expected to press Xi on that.

The two presidents will discuss issues of concern to the U.S., including Taiwan and China’s economic practices, though a discussion about lifting tariffs is not on the table.

The White House views the passage of the bipartisan infrastructure bill and recent international summits where the U.S. re-engaged with allies as leverage for Biden going into the summit.

“Following their September 9 phone call, the two leaders will discuss ways to responsibly manage the competition between the United States and the PRC, as well as ways to work together where our interests align,” White House Press Secretary Jen Psaki said in a statement Friday. “Throughout, President Biden will make clear U.S. intentions and priorities and be clear and candid about our concerns with the PRC.”

A leading concern for the U.S. is the question of whether Xi would invade Taiwan, or possibly seek to take smaller islands controlled by Taiwan, a move that would be seen as a significant test of Western resolve. 

General Mark Milley, chairman of the Joint Chiefs of Staff, has said China is unlikely to take Taiwan by force within the next 24 months. And China’s state media have sought to quiet online speculation that a conflict with Taiwan may be imminent. 

More politics coverage from Fortune:

  • Biden’s vaccine mandate may be tied up in court—but employers shouldn’t wait to enforce it, say legal experts
  • Remote workers will not have to report proof of vaccination under OSHA’s new mandate
  • New York City mayor-elect says he’ll take his first 3 paychecks in Bitcoin
  • Congress passes $1 trillion infrastructure bill
  • Ethical leadership requires 6 qualities—and Mark Zuckerberg lacks two of them, argues a management expert from NYU

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Authors
By Jenny Leonard
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Henry Ford, Steve Jobs, William Boeing: These Fortune 500 founders are the American-born children of immigrants
PoliticsImmigration
Henry Ford, Steve Jobs, William Boeing: These Fortune 500 founders are the American-born children of immigrants
By Catherina GioinoJuly 1, 2026
3 hours ago
Russian President Vladimir Putin
EconomyRussia
It started with one viral influencer complaining about Russia’s economy. Now a record 60% of Russians are pessimistic about their country’s outlook
By Tristan BoveJune 30, 2026
17 hours ago
Image of colored bar charts with one being pushed up.
NewslettersEye on AI
AI is minting billion-dollar companies faster than before
By Beatrice NolanJune 30, 2026
17 hours ago
kean
PoliticsCongress
Tom Kean discloses depression diagnosis behind 4-month absence from Congress: ‘until you experience it yourself, it is difficult to fully understand’
By Mike Catalini, Joey Cappelletti and The Associated PressJune 30, 2026
18 hours ago
Anthropic CEO Dario Amodei pointing to his head.
AIAnthropic
At the heart of Anthropic’s clashes with the U.S. government, a decision not to play by the new rules of Trump’s Washington
By Jeremy KahnJune 30, 2026
21 hours ago
ark
Politicsarkansas
Arkansas defies federal court to launch SNAP candy-and-soda ban Wednesday
By Travis Loller and The Associated PressJune 30, 2026
22 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
23 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.