President Biden’s summit with his Chinese counterpart , Xi Jinping, on the sidelines of the recent APEC gathering was an embarrassment from start to finish. No matter how much the media tries to put lipstick on this meeting, it is still a pig.
The most startling embarrassment, surprisingly, did not revolve around President Biden, the commander in chief. Instead, it centered on America’s corporate elites. At a dinner hosted by the U.S.-China Business Council and the National Committee on U.S.-China Relations, these elites enthusiastically stood to applaud Chinese President Xi. Not only did these tycoons pay substantial sums to dine with China’s most autocratic and ruthless leader since Mao, but many also opted to skip a dinner with President Biden, which was scheduled at the same time—an oversight attributed to the White House advance team.
Seating at President Xi’s table came at a hefty cost, with attendees paying tens of thousands of dollars, but what did they gain from this exclusive opportunity? Did they use the chance to confront the Chinese leader about his country’s sanctioned theft of U.S. intellectual property and cyber hacking activities? Did they inquire about the mysterious disappearances of political and business figures under Xi’s rule, such as the CEO of a Tencent-backed live-streaming service? Perhaps they sought insights into the challenges faced by U.S. companies operating in China, dealing with fines, office raids, and unpredictable interference?
It’s doubtful whether BlackRock CEO Larry Fink, a recent advocate of ESG investing, questioned Xi about China’s plans to build 300 coal-fired power plants. Did Apple’s Tim Cook discuss the potential relocation of manufacturing outside of China? These critical discussions seem unlikely.
Despite China’s economic struggles, U.S. CEOs remain eager to tap into China’s vast consumer market and benefit from its inexpensive labor force. While this ambition is understandable, the standing ovation for China, given its consistent flouting of trade rules and violations of international agreements, may be deemed excessive. his Chinese counterpart
Adding to the embarrassment, in preparation for the APEC event, California Governor Gavin Newsom and San Francisco Mayor London Breed took swift action to clean up their city, not for the benefit of taxpayers or residents, but for President Xi and other dignitaries. The cleanup exposed a capacity to relocate homeless individuals and improve the streets, emphasizing a lack of will to address these issues for the city’s permanent residents. Governor Newsom acknowledged the motivation behind the cleanup but claimed ongoing efforts, leaving many skeptical about tangible results.