Biden and Xi Will Meet on Sidelines of G20 in Bali

The Presidents of China and the United States will meet on the sidelines of the G20 in Bali, Indonesia on Nov. 14. While important under present conditions, the meeting will no doubt be “frosty.” Biden will be going to the G20 with what he considers an “election victory” in spite of the Democrats’ loss of majority in the House of Representatives. He will be going to strengthen the sanctions against Russia, with Treasury Secretary Janet Yellen scheduled to meet with her counterparts there to get them onboard with a “price cap” on Russian oil. Biden will be going to talk about “energy security,” food, and reform of the multilateral banks, hoping to pull countries away from their support for China’s Belt and Road Initiative and “set the rules” for developing financing. Biden says that he wants to determine the “red lines” for both sides, the crossing of which could lead to conflict.