Xi Jinping seeks stable ties with new U.S. administration as economic concerns grow

China's President Xi Jinping expressed a desire for cooperation with the new U.S. administration during a meeting with President Biden in Peru. He emphasized the importance of managing differences to ensure a stable China-U.S. relationship. Since the U.S. election on November 4, China's stock market has dropped 1.2%, while the S&P 500 has risen 2.8%. Xi warned that adversarial relations could lead to setbacks in Sino-U.S. ties, as China's economy faces significant challenges. Xi is reportedly concerned about the new U.S. team, which includes figures known for their tough stance on China. This shift in U.S. policy could widen the economic gap between the U.S. and China, potentially leading to unrest in both nations.