President Joe Biden is set to meet with Chinese President Xi Jinping in a high-stakes diplomatic encounter during the Asia-Pacific Economic Cooperation (APEC) summit in the San Francisco Bay area.
The meeting is expected to address a range of global issues, including the Israel-Hamas conflict, Russia’s invasion of Ukraine, North Korea’s ties with Russia, Taiwan, the Indo-Pacific, human rights, fentanyl, artificial intelligence, and trade relations. Both sides anticipate discussing these matters thoroughly, with no topics off the table.
The meeting comes after efforts to improve relations following tensions, such as the shooting down of a suspected Chinese spy balloon in February. The aim is to foster greater diplomacy and potentially resume some military-to-military channels, although significant progress may be challenging given the deep competition between the two nations.
The visit may face challenges in Northern California due to its history of left-wing protests. Despite the personal history between Biden and Xi, mutual suspicion and grievances are expected to shape the dialogue.
Biden may raise concerns about Chinese “influence operations” in foreign elections and the status of US citizens detained in China. Biden is likely to emphasize the unchanged commitment to the Indo-Pacific and express specific support for the security of the Philippines.
The meeting takes place amid shifting global dynamics and China’s ambitions in the Indo-Pacific region.
Ernst & Young Appointed Financial Advisor for Privatization of Pakistan International Airlines
In another development, the Privatisation Commission has granted approval for the appointment of the British multinational Ernst & Young as the financial advisor for the privatization of Pakistan International Airlines (PIA). The decision, made during a meeting chaired by Minister Fawad Hasan Fawad, aims to prepare the loss-making national carrier for sale.
Reportedly, the commission considered technical and financial proposals from eight financial advisory firms before selecting Ernst & Young. The appointed advisor is expected to lead a consortium to manage the planned stake sale of PIA.
In addition to this decision, the Privatisation Commission discussed matters related to the House Building Finance Company Limited (HBFC) and decided to extend the tenure of its Financial Advisor. The commission also reportedly extended the tenure of the Financial Advisor for First Women Bank.
