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The Exchange - November 19, 2021

2021-11-19
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  • Xi-Biden Summit | The virtual meeting between Chinese President Xi Jinping and U.S. President Joe Biden covered a wide range of issues that are at the center of the two countries' concerns. Both leaders have pledged to strengthen cooperation in order to avoid conflict. Observers welcome the summit for its cool-down effects amid the fierce tensions between the two countries while admitting that the talk hasn't resulted in major breakthroughs.
  • China's Nuclear Arsenal | The Pentagon anticipates that by 2030 China will have a nuclear arsenal consisting of 1,000 nuclear warheads, which is about 1/4 of the U.S. current stockpile. Many U.S. experts are concerned that as China continues to invest in nuclear expansion, it will eventually bypass U.S. missile defenses.
  • Global Wealth | China has surpassed the U.S. as the richest country in the world. China’s wealth stands at $120 trillion accounts for about one-third of the global wealth increase from 2000 to 2021. U.S. wealth is at $90 trillion, and observers have criticized the U.S. for prioritizing military spending over infrastructure, healthcare, and social welfare.

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