The opportunities and challenges between U.S. and China relations

china has been a big topic of discussion here already today in sessions about the supply chain in Senator Mark Warner session about domestic policy. But of course I think we have to start with the headlines. Um Susan, could I ask you your take on the first joint virtual summit between President biden and she last night? I think the most important part aspect is that we're talking again. Um Sad to say that we weren't talking much and not talking at multiple levels and in multiple channels and I think this is going to open up the opportunity for the military to military trade to trade. You had some of that in advance of the summit, but I think that's probably the most significant element of this amy. Um We saw President biden say that they're this would help establish some common sense guardrails president, she say that it was good to be moving in a positive direction. Um How optimistic are you after after this meeting? I don't think I would say I'm optimistic, but I'm really pleased that what did happen last night was we kind of put a floor underneath that's really significant continued deterioration in the relationship, which was getting scary because it was focused not on the trade and economic issues that many of us focus on all the time, but on issues over Taiwan. And so it was incredibly important for the two sides to come together and come out of the meeting saying this is a competitive relationship but we need to manage it. Uh Craig the US china Business Council has been calling for better Relations. Um What did you think about the takeaways last night? So I think that the two presidents were able to clarify the strategic situation between the two countries, which is a necessary condition uh to begin trade or other related negotiations and that um having clarified but not settled uh the strategic issues having discussed the red lines but not necessarily agreed, but understanding the other's position is a good starting point, but the problems all remain. Um and uh the path forward remains very unclear. We had hoped that there would be an announcement of some form of negotiations on the trade side, uh a little bit of light uh on tariffs, but apparently those issues were not uh discussed. Uh There are opportunities in this relationship as well as challenges, but we didn't have time really to get to the opportunities.