In a long-awaited conversation, President Joe Biden and Chinese President Xi Jinping engaged in a "candid and constructive" call that touched upon various crucial topics, including Taiwan, artificial intelligence (AI), and security issues. The call demonstrated a return to regular leader-to-leader dialogue between the two global powers, following their November summit in California.

During the call, President Xi emphasized the principle of "no clash, no confrontation," urging both countries to prioritize stability and refrain from provoking troubles or crossing any lines that may disrupt the overall harmony in China-U.S. relations. President Biden reiterated the United States' longstanding "One China" policy and expressed opposition to coercive means aimed at bringing Taiwan under Beijing's control. Notably, Taiwan remains a "red line not to be crossed," according to President Xi.

Beyond Taiwan, President Biden raised concerns about China's operations in the South China Sea, specifically citing efforts to impede the resupplying of forces to the Philippines. The upcoming joint summit with Philippines President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida will likely address China's influence in the region.

The leaders also discussed the need for China to fulfill its commitments to halt the flow of illegal narcotics and prevent the export of precursor chemicals. This issue was previously addressed at the Woodside summit in California, where vows were made to combat the global drug trade. Furthermore, they touched on the promises and risks associated with advanced AI, a topic gaining global attention as more than 120 nations, including China and the U.S., backed a resolution at the United Nations calling for global safeguards on the technology.

The call also delved into concerns surrounding human rights in China, particularly Hong Kong's restrictive national security law and the treatment of minority groups. President Biden urged China to exercise its influence over North Korea to rein in its nuclear power ambitions and expressed concerns about China's defense relationship with Russia amid the ongoing invasion of Ukraine.

Both leaders acknowledged the importance of sustained interactions at all levels of government to prevent competition between the two economies from escalating to direct conflict. Secretary of the Treasury Janet Yellen and Secretary of State Antony Blinken are set to engage in high-level engagements with Chinese counterparts in the coming weeks, further solidifying diplomatic ties.

President Xi expressed grievances about recent measures taken by the U.S. to suppress China's economy, trade, and technology. The increasing list of sanctioned Chinese companies was cited as a concerning trend. However, experts believe that the call reflects a mutual desire to maintain a stable relationship while acknowledging their respective positions on key matters of concern.

Treasury Secretary Janet Yellen's upcoming visit to Guangzhou and Beijing further underscores the commitment to address economic issues, ensuring fair treatment for American workers and businesses and pressing China on unfair trade practices.

As the leaders of the world's two largest economies, President Biden and President Xi discussed the importance of fair economic practices. The U.S. National Security Council spokesman highlighted that the U.S. would continue to limit the transfer of advanced technology to China in order to preserve its security and economic interests.

The call also touched upon concerns over Chinese ownership of the popular social media app TikTok, with President Biden reiterating the U.S.'s apprehensions to President Xi. Additionally, there were discussions surrounding China's goal of achieving 5% economic growth despite the challenges posed by the property sector and the ongoing effects of the COVID-19 pandemic.

The call between President Biden and President Xi sets the stage for further bilateral engagements and serves as an important step towards maintaining stability and cooperation between the two nations.