The summit meeting between Presidents Biden and Xi Jinping south of San Francisco has provided new and important stability to the fluctuant and stressed U.S.-China relationship. In the absence of a joint agreed statement, both governments put forward their own interpretations of what was said and agreed in the discussions. These respective interpretations were, not surprisingly, in agreement concerning sensitive issues in the relationship. Nonetheless, a number of “deliverables” were announced.

If presidents Xi Jinping and Joe Biden can meet this month, getting China-U.S. ties back on the rails will get a much-needed boost on the order the their Bali meeting. The current international scene is chaotic, and China-U.S. relations are at a critical crossroads. The two sides must learn to co-exist and cooperate.

All eyes are on the upcoming leaders’ meeting of the Asia-Pacific Economic Cooperation (APEC), to be held in San Francisco from November 11-17. And with good reason: there is a distinct possibility that US President Joe Biden and Chinese President Xi Jinping will meet on the sidelines of this pan-regional gathering, exactly one year after their last summit in Bali on the eve of the annual G20 summit.

China’s Foreign Minister paid an official two-day visit to Washington last week, laying the groundwork for an anticipated meeting between Presidents Joe Biden and Xi Jinping in November. The two sides had a “constructive” and detailed set of discussions on specific issues, but the most important outcome may be that a normal diplomatic interaction took place after a long hiatus and substantial acrimony in the bilateral relationship.

More than ever, China and the United States need to meet each other halfway. They need to find new cooperation points in a spirit of mutual benefit. Emerging from the deep freeze presents both an important test and a great opportunity.

In the wake of Chinese Foreign Minister Wang Yi’s visit to the U.S., windows of opportunity are opening. The constructive attitude on both sides is paying off as common ground is sought to anchor bilateral ties. This is a positive sign for the future.

Despite the prevailing view of "structural fatalism" in Sino-American relations, there is a growing determination on the part of both Chinese and American leaderships to engage in direct dialogue and build trust. A high-level, face-to-face meeting between Presidents Xi and Biden is essential for addressing critical questions, clarifying baselines, and signaling the willingness for further communication, with a focus on managing the Sino-U.S. relationship.

America and China have no choice but to engage each other and the nature of their future relationship might be uncertain and even difficult, but will inevitably be close. But while recent diplomatic and leadership moves have indicated that Xi Jinping wants to improve relations with Washington, skeptics warn against believing that the policy of the PRC has changed fundamentally.

The historic meeting between Joe Biden and Xi Jinping was short on resolutions, but gave promise for those hoping for a toned down approach to the bilateral tensions that have plagued the two nations since the middle of the 2010s.

This year’s G20 summit was haunted by the war in Ukraine, changing the complexion of nearly all interactions at the meeting. A sober assessment of the situation between Taiwan and China leaves much room for speculation about how an escalated conflict there might affect the world’s powers at large.