President Biden met with Chinese President Xi Jinping at APEC this week to discuss a range of topics, including the economy, fentanyl, and re-establishing channels of communication, according to a White House readout. Representatives from Beijing claim Xi pressed Biden about export restrictions of certain technology. Ambassador Kurt Tong, The Asia Group Managing Partner, joins Yahoo Finance to discuss the meeting between the world leaders and how the countries could move forward on a new path of beneficial communication as global events develop. Tong explains how this new communication can be beneficial to both economies, especially in finding areas where the two countries can find agreement, using the events in the Middle East as an example. "I think it's in the interest of both the US and China that the situation in the Middle East not expand to become a broader conflagration that would limit energy exports and create real instability in the global economy. That's an interest for China, it's an interest for the United States and so perhaps, through communication, we can encourage China to play a somewhat more constructive role in that region." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
