Biden-Xi Bali Meet Reopens US-China Cooperation, Looks Positive For Health Players

Rare Positive Signal Amid Wider Decoupling

A meeting between the heads of the world's two largest economies potentially opens the door for health cooperation, a rare positive sign amid worsening economic decoupling, accelerating diversification away from China and the need for multinationals to modify localization strategy.

G20 2022
BIDEN-XI G20 MEETING OPENS HEALTH COOPERATION, MNCS GO LOCALIZATION 3.0 • Source: Shutterstock

The meeting and handshake in Bali, Indonesia between Chinese President Xi Jinping and US President Joe Biden, held on the sidelines of the G20 Summit, was the first in-person meeting between the two leaders since they both became head of state and appears to have put the crucial bilateral relationship back on the right path.

After the meeting, both sides agreed to restart bilateral dialog on issues key to both countries

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