Biden to Call Chinese Communist Party Leader, Discuss Ukraine & Economic Competition

Democrat President Joe Biden is scheduled to hold a call with Chinese Communist Party leader Xi Jinping on Friday.

Biden plans to discuss a range of urgent issues, including China’s position on Russia’s invasion of Ukraine.

The two leaders will also discuss the economic competition between Washington and Beijing.

White House Press Secretary Jen Psaki announced the call on Thursday.

Psaki described the call as “part of our ongoing efforts to maintain open lines of communication between the United States and the PRC [People’s Republic of China].”

The announcement comes on the heels of warnings from Biden officials that Beijing will face consequences if it chooses to help Russia evade Western sanctions for its aggression against Ukraine.

It also follows more than seven hours of talks between U.S. national security advisor Jake Sullivan and the Chinese regime’s top diplomat Yang Jiechi in Rome on Monday.

The topics of discussion between Sullivan and Yang include Taiwan and North Korea in addition to the Ukraine crisis.

Senior administration officials later described the meeting as “intense.”

“They had an extensive conversation on Russia/Ukraine, with the National Security Advisor laying out where we are, how we got there, and what the risks are that we see lying ahead,” the official said.

“We do have deep concerns about China’s alignment with Russia at this time, and the National Security Advisor was direct about those concerns and the potential implications and consequences of certain actions,” the official added.

The meeting in Rome came after reports that U.S. officials believed that Moscow had asked Beijing for military and economic aid and that the regime had signaled its willingness to help.

Both Russia and China have denied the report.

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Less than three weeks prior to Russia’s invasion, Xi and President Vladimir Putin met in Beijing, during which the two leaders declared a “no limits” strategic partnership.

Since the attack, Beijing has refused to condemn Russia’s actions or join Western sanctions, a stance widely viewed as tacitly supporting Moscow which has drawn growing international criticism.

Russian Finance Minister Anton Siluanov said earlier this week said the country was counting on China to help it contain the economic fallout from the unprecedented sanctions leveled by Western nations.

Siluanov said sanctions had deprived Moscow of access to $300 billion of its $640 billion in gold and foreign exchange reserves and added that there was pressure on Beijing to shut off more.

“We have part of our gold and foreign exchange reserves in the Chinese currency, in yuan,” he said.

“And we see what pressure is being exerted by Western countries on China in order to limit mutual trade with China.

“Of course, there is pressure to limit access to those reserves,” he added.

“But I think that our partnership with China will still allow us to maintain the cooperation that we have achieved, and not only maintain, but also increase it in an environment where Western markets are closing.”

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By Nick R. Hamilton

Nick has a broad background in journalism, business, and technology. He covers news on cryptocurrency, traditional assets, and economic markets.

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