Today in Lima, Peru, President Biden is meeting for the third and final time during his term

with Chinese leader Xi Jinping. The leaders of the two superpowers sat down together as President

Biden prepares to hand the reins of this tense but consequential relationship back to President

elect Trump. Their sit down was on the sidelines of the Asia-Pacific

Economic Cooperation Summit, known as APEC. Nick Schifrin is there now. Nick, very, very good to see

you. Could you tell us a little bit about this meeting? What was the Biden administration's goal here?

U.S. officials describe the meeting as an attempt to take stock of their efforts to try and

manage the competition between the U.S. and China, including increasing military to military

communications and working together on fentanyl, AI, and climate.

But William, as you know, the top of the agenda for all of these summits are always where

China and the U.S. do not agree.

And the top of that

list, of course, is Taiwan. Last month, we saw Chinese military practice what they call

blockading and assaulting the island in response to a speech by Taiwan's new president,

whom Beijing calls a separatist. U.S. officials say that a conflict in Taiwan or over Taiwan

remains the most significant risk for U.S. and the world. U.S. officials say that conflict in Taiwan or over Taiwan remains the most significant risk for U.S. and the world.

U.S. officials also say that Biden will bring up China's ongoing support for Russia's defense industrial base,

which is allowing Russia to continue its efforts in Ukraine, and perhaps most immediately.

William, China, the U.S. is also bringing up what U.S. officials call a Chinese hack

of American telecommunications firms that have led to the theft of customer call records,

the compromise of at least one phone to an advisor of President-elect Trump,

and Chinese being inside the system that those

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