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What you need to know now By Reuters

by Reuters
November 14, 2022
in Business
Reading Time: 2 mins read
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© Reuters. U.S. President Joe Biden meets with Chinese President Xi Jinping on the sidelines of the G20 leaders’ summit in Bali, Indonesia, November 14, 2022. REUTERS/Kevin Lamarque

NUSA DUA, Indonesia (Reuters) – U.S. President Joe Biden said on Monday he and his Chinese counterpart Xi Jinping had held blunt talks over an array of issues, including Taiwan and North Korea, ahead of Group of 20 (G20) talks expected to be dominated by the Ukraine conflict.

BIDEN AND XI

* The meeting ahead of the G20 summit, being held on Tuesday and Wednesday on the Indonesian island of Bali, was their first in-person talks since Biden became president.

* In a statement after their meeting, Xi called Taiwan the “first red line” that must not be crossed in U.S.-China relations, Chinese state media said. Biden said U.S. policy on Taiwan was unchanged.

* Biden said he had told Xi that Beijing has an obligation to try to talk North Korea out of resuming nuclear testing.

* Biden said the two sides set up a mechanism for more frequent communications and that Secretary of State Antony Blinken would travel to China to follow up on discussions. “I think we understand each other,” Biden said.

* The two leaders agreed to allow senior officials to renew communication on climate, debt relief and other issues, the White House said after they spoke, offering a boost to behind-schedule negotiations at the COP27 climate summit in Egypt.

RUSSIA AND UKRAINE

* Ukrainian President Volodymyr Zelenskiy has said he will address the G20 gathering by videolink on Tuesday.

* Russian Foreign Minister Sergei Lavrov on Monday dismissed a news agency report that he had been taken to hospital with a heart condition after arriving in Bali for the summit, scolding Western journalists for what he cast as false reporting.

LEADERS’ PLANS

* British Prime Minister Rishi Sunak will call on the G20 for coordinated action to address international economic instability and the rising cost of living, his government said. Sunak is set to hold talks with Biden and Lavrov.

* Australia Prime Minister Anthony Albanese said he would hold a bilateral meeting with Xi on Tuesday. Japanese Prime Minister Fumio Kishida will also meet Xi on Tuesday.

* Elon Musk addressed a business forum on the sidelines of the summit on Monday and said he was working “from morning til night, seven days a week” when asked about his acquisition of Twitter and leadership of Tesla (NASDAQ:).

* Crown Prince Mohammed bin Salman left Saudi Arabia on Monday to attend the summit and will visit other Asian states, state media said, without specifying which countries.

COVID

* Indonesia, which holds the G20 presidency, has strict protocols in place for the talks. The Nusa Dua district hosting the summit has been under lockdown since Nov. 11 and will remain so until Nov. 17.



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