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Thank you. EY.com slash transformation. Xi Jinping gave an unusual audience to top American business leaders.

Companies like Blackstone, FedEx and Qualcomm are all represented at the meeting.

The message here is that China welcomes foreign business.

This was a very important geopolitical meeting with China trying to turn sentiments in its favor. Does that mean that U.S.

China relations are looking up? One year ago, Drumtower sat down with the economist's editor-in-chief

Zani Minton-Badows to talk about US-China relations.

Zani had just been in China for the first time since the pandemic.

And back then, in spring 2023, ties between America and China seemed stuck in a downward spiral.

If we manage in the coming years to avoid an outright conflict between these two countries,

that for me is going to be a measure of success.

Today, there are still many sources of tension,

...