Biden Threatens Xi Jinping To Exercise Caution After Russia Visit As China Relies On American Investments

U.S. President Joe Biden told Chinese President Xi Jinping to be “careful” given that the Chinese government relies on investment from America. The comment comes after Xi met with Russian President Vladimir Putin in March and attended a virtual summit together earlier during the week.

What Happened: The Chinese economy depends on investment from both Europe and U.S. and since the start of the Russia-Ukraine War, about 600 American companies have exited Russia, Biden said, as reported by Reuters.

The Chinese President listened and did not argue, said Biden, while adding, “So, I think there’s a way we can work through this.”

Why It Matters: As per media reports, China is in default on its sovereign debt held by American bondholders worth close to a trillion dollars.

Further, China-U.S. relations have been strained recently over issues pertaining to national security, Russian invasion of Ukraine and trade policies of the two nations.

U.S. Treasury Secretary Janet Yellen is presently on a visit to Beijing and meeting with government officials.

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