Top US business leaders are set to dine with Chinese President Xi Jinping in San Francisco. The high-profile dinner, which is taking place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum, comes after a day of talks between Xi and US President Joe Biden aimed at ease tensions between the world’s two largest economies.
The purpose of the dinner is to foster better communication and engagement between American businesses and China’s leader. However, the event also raises concerns about optics, with some US companies reportedly paying tens of thousands of dollars to listen to a “Chinese state leader” from a government accused of genocide against the Muslim Uighurs, a claim China vehemently denies.
President Xi Jinping is expected to deliver a speech at the dinner, likely aimed at convincing US industry that China remains open for business despite posting its first quarterly deficit in foreign direct investment.
This dinner marks Xi Jinping’s first visit to the United States in more than six years, and the expensive affair, with tables costing up to $40,000, is standard for past Chinese presidential visits.
While the guest list has not been made public, some executives have privately expressed reservations about attending, citing concerns about the usefulness of their operations in China and potential U.S. political risks.
Despite human rights concerns, President Biden has made diplomatic efforts to improve relations with China. The Biden administration believes high-level communication is crucial to preventing competition from escalating into conflict and safeguarding the global economy.
Business leaders attending the dinner will look to President Xi Jinping to set expectations for how foreign companies will be treated in China. While some see no substitute for hearing from Xi Jinping directly, others aim to demonstrate their commitment to China by attending the event.
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