U.S. President Joe Biden delivered the first foreign policy speech of his tenure at the State Department on Thursday. In the speech, he called China the "most serious competitor" of the U.S. However, he also stressed that the U.S. is ready to work with China when it's in America's interest. What does Biden's speech signal? How will that affect the China-U.S. relationship? Einar Tangen, a current affairs commentator shared his views.