On the sidelines of the conference on Asia-Pacific economic cooperation, there was a planned meeting between the presidents of the United States of America and China, where on Wednesday, November 15, 2023, in San Francisco, California, on the territory of the USA, the American president, Mr. Joe Biden, held talks with his Chinese counterpart, Mr. You are Jinping. As part of these personal talks in a positive spirit, according to observers from the meeting place, an agreement was concluded on the resumption of mutual military communication, and both sides very intensively discussed issues of bilateral business cooperation.
Based on these facts, together with the influence of other factors, during the European morning of Thursday, November 16, 2023, at approximately 7:16 CET, the exchange value of the American dollar (USD) was once again moving in a trading trend of its strengthening, after which during the course of yesterday evening and the US night, the value of the USD weakened. Currently, on the indicated day and time, the value of the US dollar (USD), as the main currency of the global commodity market according to the dollar index DXY (US Dollar Currency Index), was moving at a point level of USD 104.48 points with a daily increase of +0 to date. 09% of the point value according to this index, which compares the value of the USD with another six major world currencies. In this situation on the foreign exchange market, the so-called global currency pair of the single European currency euro (EUR) and the US dollar (USD) moved at a mutual exchange rate value of 1.084 USD per EUR with a daily weakening of the EUR by -0.083% against the USD.
According to observers and journalists, the main result of this meeting at the highest level of the USA and China is the resumption of mutual military communication at a high level. “We are returning to direct, open and clear communication,” said US President Mr. Joe Biden at a press conference after this meeting with Chinese President Xi Jinping. China has conducted military exercises around Taiwan while its navy has engaged in aggressive maneuvers in the South China Sea amid a standoff with the Philippines as the two countries stake their territorial claims. The US wanted to revive military communications, especially after several incidents where Chinese ships nearly collided with US forces. “Fundamentally miscalculating on both sides can cause real problems with a country like China or any other big country,” Mr. Biden said at a press briefing after that meeting with his Chinese counterpart. US Defense Secretary Lloyd Austin will meet with his Chinese counterpart when that person is selected, a senior Biden administration official told reporters after the two presidents met. China has yet to appoint a defense minister after sacking General Li Shangfu without explanation in late October.
According to economic correspondents and observers at the meeting place, the mutual conversations of both the American and Chinese presidents, with the exception of issues of military communication and the clarification of relations around Taiwan, when President Mr. Joe Biden declared the US’s respect for the so-called “One China” policy, also occurred to negotiations regarding mutual economic cooperation leading to the improvement of bilateral trade relations. Chinese state media also said the two sides agreed to establish an intergovernmental dialogue on artificial intelligence, create a drug control task force, “significantly” increase flights between the two countries next year and expand exchanges in areas such as education, trade and culture . . A senior US administration official said China is already taking action against nearly 24 companies that make precursors to fentanyl, the addictive drug that leads to overdoses and deaths in the US. As part of negotiations on trade cooperation, both parties then expressed their willingness to resolve the gradual abolition of trade sanctions in order to create an equal and non-discriminatory business environment for US companies in China and especially for Chinese companies operating in the US. Overall, however, a Biden administration official described this meeting between the US and Chinese presidents as more personal than the last time the two leaders met.
