China's Xi, In Meeting With Biden Said Hopes The Two Countries Can Be Partners, Respect Each Other, Coexist Peacefully; Said Both Sides Should Have More Dialogue, Discuss More, Handle Differences Calmly
Portfolio Pulse from Charles Gross
In a meeting with U.S. President Biden, China's President Xi expressed his hope for China and the U.S. to become partners, respect each other, and coexist peacefully. He emphasized the need for more dialogue, discussions, and calm handling of differences, as reported by Reuters citing China state media.
November 15, 2023 | 11:33 pm
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POSITIVE IMPACT
The positive tone of the meeting between China's Xi and U.S. President Biden could lead to improved U.S.-China relations, potentially benefiting the iShares China Large-Cap ETF (FXI).
The meeting suggests a willingness to improve bilateral relations, which may reduce geopolitical tensions and positively impact Chinese large-cap stocks, thereby potentially increasing FXI's value.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The meeting between the leaders of China and the U.S. could have a stabilizing effect on global markets, which may positively influence the SPDR S&P 500 ETF Trust (SPY).
Improved U.S.-China relations can lead to a more stable global economic environment, which is generally favorable for the broad market indices that SPY tracks.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50