I'm Robert Lawrence Kuhn and here's what I'm watching: The high-profile Xi-Biden meeting in San Francisco. It is the most important diplomatic event of the year, surely for China and the U.S., arguably for the entire world. To establish a "floor" under Sino-U.S. relations, to ensure that relations will not continue to spiral downward, is a meaningful contribution for world peace and an essential prerequisite for world prosperity.

President Xi noted that China and the U.S. are different in history, culture, social system and development path. However, he said, "the two major countries can overcome various difficulties and find the right way to get along based on mutual respect, peaceful coexistence and win-win cooperation." Xi focused on the "grave problems" in the global economy, which, while recovering, "remains sluggish," with "industrial and supply chains still under the threat of interruption, and protectionism is rising."

President Biden addressed President Xi personally. "I value our conversation," Biden said, because "it's paramount that you and I understand each other clearly, leader to leader, with no misconceptions or miscommunication. We have to ensure that competition does not veer into conflict." Biden front-loaded "the critical global challenges we face, from climate change to counter-narcotics to artificial intelligence," which Biden said, "demand our joint efforts."

China's foreign ministry called the meeting smooth, comprehensive and in-depth. They listed five areas where the two sides have reached consensus.

First, upholding the guiding principles for China-U.S. relations, i.e., mutual respect, peaceful coexistence, keeping communication open, conflict prevention, upholding the UN Charter, cooperation in areas of shared benefits, and manage competitive aspects of the relationship.

Second, more high-level dialogues and discussions on trade, commerce, finance, export control, Asia-Pacific affairs, as well as technological and agricultural cooperation.

Third, people-to-people exchange. They agreed to work toward a significant further increase in scheduled passenger flights early next year; expand educational cooperation and increase student, youth, cultural, sports and business exchanges.

Fourth, on global governance, the two sides agreed to enhance cooperation to tackle the climate crisis and work together to reduce emissions in the 2020s.

Fifth, restoring high-level military-to-military communications, on the basis of equality and respect. They also agreed to form a working group on counter-narcotics cooperation.

Speaking after the meeting at a rare press conference, Biden said the meeting with Xi was "some of the most productive and constructive meetings we’ve had." He listed three specific agreements.

First, counter-narcotics by interdicting precursor ingredients and pill-pressers. Biden appreciated China's willingness to cooperate in reducing America's opioid crisis.

Second, military-to-military communications; direct contact for conflict de-risking will resume.

Third, AI governance; experts to address dangers of artificial intelligence.

A pledge to renew climate cooperation, issued hours before their meeting, had set the proper tone.

Biden stated that the U.S.'s long-standing "one-China policy" will not change – a critical Chinese red line – but he did not elaborate.

Earlier an unnamed U.S. official had said, "Nothing will be held back; everything is on the table," which was a good sign for real progress.

But we should not ignore what was not agreed. Biden said there was no agreement on Russia-Ukraine crisis. There was no mention of any roll back in U.S. tariffs or sanctions, blocking the export of advanced chip technologies.

That Biden and Xi met at a private, rural estate, and shared a personal walk – highly visible for the whole world to see – symbolized, and not by accident, that Sino-U.S. relations were heading toward reset.

That the meeting happened at all is the biggest takeaway – and it is not a trivial achievement given the prior, sorry state of U.S.-China relations, its lowest in decades.

Here is where I may differ from others who, no matter the meeting's good words and spirit, see the deep structural differences between China and the U.S. as foreboding future trouble. I see major commitments by the two heads of state, investing their personal, political capital.

At a gala dinner with U.S. business leaders, President Xi encouraged them to participate in China's huge market. While the business leaders listened with hope, being by nature risk-adverse, they will watch deeds with caution.

I've said for years that the peace and prosperity of the world depend on Sino-U.S. relations that are stable, strong, forward-looking and mutually enhancing. 

Communications is key – regular, frequent, direct – at multiple levels and in multiple sectors: economics, trade, business, geopolitical, military, healthcare, science, climate, AI, culture, even sports.

Certainly, communications begin at the highest level. That's why, to me, the highlight of the meeting was Presidents Biden and Xi agreeing that, whenever needed, they will "pick up the phone and call."

I'm keeping watch. I'm Robert Lawrence Kuhn.

Script: Robert Lawrence Kuhn

Editors: Xiao Qiong, Hao Xinxin

Designer: Qi Haiming

Producer: Sun Lan

Chief Editor: Wei Wei, Li Shouen

Supervisors: Xiao Jian, Adam Zhu

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