US President Joe Biden has emphasized the “real differences” between the United States and China in terms of maintaining a fair economic playing field and safeguarding intellectual property. In a recent address at the APEC CEO Summit, Biden outlined his commitment to managing the competition between the two nations responsibly.

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Following a four-hour meeting with Chinese President Xi Jinping, Biden expressed his dedication to ensuring clear communication between the two leaders. Highlighting the extensive history of candid and constructive discussions with Xi, Biden assured the audience of the US’s non-confrontational stance.

“We do not seek conflict,” Biden affirmed, announcing the resumption of military-to-military communication channels to prevent accidental miscalculations.

Despite acknowledging disparities in economic policies and intellectual property protection, Biden emphasized addressing these issues with “smart policies and strong diplomacy.”

Contrary to the notion of decoupling, Biden clarified that the US was focused on de-risking and diversifying its economic relationship with China. The President underscored the importance of protecting national security interests while standing firm on American values.

In reaffirming the US as a Pacific power, Biden recalled his discussion with President Xi, emphasizing the enduring commitment to the region. The President highlighted the pivotal role of the US in maintaining peace and security, contributing to transformative growth, and lifting millions out of poverty.

“Our Indo-Pacific strategy has been clearly laid out from day one,” Biden asserted, pointing to the administration’s commitment to the region.

The President emphasized the significance of the two-way economic relationship, with over 60% of US exports going to fellow APEC economies and American businesses being the largest source of foreign direct investment in the region.

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As Biden assured the audience that the US is here to stay, he concluded by underscoring the mutually beneficial relationship between the US and APEC economies, supporting job creation and fostering new opportunities across the region.