China Refuses to Cooperate With US and Allies on Oil
U.S. President Joe Biden meets with Chinese leader Xi Jinping during a virtual summit from the Roosevelt Room of the White House in Washington on Nov. 15, 2021. Mandel Ngan/AFP via Getty Images
President Joe Biden recently reached out to Chinese leader Xi Jinping, asking him to join with U.S. allies in releasing oil reserves, in order to fill a shortage, bring down prices, and challenge OPEC’s influence on the global economy. So far, Xi has refused.
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
