G20 summit: Joe Biden to meet Xi Jinping in Bali amid escalating tensions over trade, Taiwan

The White House announced on Thursday (November 10) that United States President Joe Biden will meet with Chinese leader Xi Jinping on the sidelines of the G20 meeting in Bali, Indonesiaon November 14.

The meeting will take place amid escalating tensions in the Taiwan strait as some political analysts have speculated that a conflict between the two superpowers over the island is more imminent than ever. Some claims were even made that China may invade as early as this year or next.

Biden said on Wednesday that he will make no concessionsto Xi and that he is focused on determining the “red lines” on conflicting interests.“I've told [Beijing] I'm looking for competition, not conflict,” Biden said.

The meeting comes amid deeply strained Sino-U.S. ties, particularly after U.S. House Speaker Nancy Pelosi's August trip to Taiwan, the self-governed democratic island which Beijing claims as its territory.

Karine Jean-Pierre, the spokesperson of the White House said in a statement: "The leaders will discuss efforts to maintain and deepen lines of communication."

She also added that the leaders will talk about how to "responsibly manage competition and work together where our interests align, especially on transnational challenges."

In October, the US had taken unprecedented steps to limit the sale of advanced computer chips to China in a move to cut off supplies of critical technology that may be used in advanced computing and weapons manufacture.

It was the most significant action by Washington against Beijing on technology exports in decades, escalating a trade battle between the world’s two most powerful economies.

WATCH |Biden hits world stage after Midterms: US President to attend COP27, G20 & ASEAN Summit

Meanwhile, a senior administration official said on Thursday that Biden hopes to build a "floor" for relations with China during his meeting with the Chinese counterpart.

The official added that the US president would be honest about his concerns over trade, Taiwan and human rights.

Currently, Sino-US relations are going through a rough patch, which has gotten even worse after US House Speaker Nancy Pelosi's August trip to Taiwan, the self-governed democratic island which Beijing claims as its territory.

After Pelosi, several other US diplomats also visited the island, flaringup tensions between China and US. China even claimed that, in case needed, it will use force to unite the two territories.

China claims that Taiwan President Tsai Ing-wen will defy China's one-nation policy by pushing for formal independence — a red line for the nation.

Beijing maintains that its approach to Taiwan has not changed, but its actionstoward the island have become more overt. At its recently concluded congress, the Communist Party for the first time enshrinedits opposition to Taiwanese independence in its constitution.

What will happen if China attacks Taiwan?

With the ongoing Russia-Ukraine war, the world has already seen how military conflict between two nations causes huge problems globally, Same applies to China-Taiwan also (in case it happens).

In case China invades Taiwan, it would put a massive impact on the global supply chains as the island is a major supplier of semiconductors—a key component of nearly all modern electronics.

It would also incite Western fury, leading to China's isolation and pushing Beijing and Washington closer than ever to a direct military conflict. It put will also put an end to Taiwan's hard-won democratic liberties.

WATCH WION LIVE HERE