On Thursday morning, U.S. President Donald Trump and Chinese President Xi Jinping met in Beijing to begin a high-stakes summit that will last until Friday and is anticipated to address trade, tariffs, Taiwan, and Iran.
According to the official broadcast, Trump promised Xi during his opening remarks that the two nations' relationship would be "better than ever before."
The two leaders have known each other for longer than any other president of the United States or China, according to Trump, who also travelled to China during his first term in office in 2017.
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A crucial challenge for the two countries was whether they could avoid the "Thucydides Trap," according to a Chinese official's English translation of Xi's remarks broadcast by Chinese state broadcaster China Central Television (CCTV).
Xi made this statement moments before Trump, noting the meeting's widespread attention.
The Thucydides Trap describes how conflicts between a reigning and rising power have historically frequently led to war. The Harvard professor who popularised the idea, Graham Allison, told CNBC's "Squawk Box Asia" that he anticipates the trade ceasefire that Trump and Xi reached during their summit in South Korea last October to be formalised.
Xi posed the rhetorical issue of whether the United States and China could avoid the Thucydides Trap, as well as whether the two nations could work together to address significant concerns for global stability and "a brighter future" for humanity. Xi made this statement during his opening speech, which was broadcast on CCTV.
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In his opening remarks, Xi stated, "Whether China and the United States can overcome the so-called Thucydides Trap and create a new normalisation of relations between major powers; whether we can work together to address global challenges and inject greater stability into the world; whether we can advance the well-being of the peoples of our two countries and the future destiny of humanity, and jointly create a better future for bilateral relations."
According to a White House official, Xi indicated interest in purchasing more American oil to lessen China's reliance on the Strait in the future, and the two sides agreed that the Strait of Hormuz must remain open to enable the free movement of energy.
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