Xi Jinping congratulates Trump as China braces for his return

Meanwhile, China unveils a 10 trillion yuan ($1.4 trillion) debt-relief package, but no direct stimulus.

Welcome back to What’s Happening in China, your weekly update on the latest news and developments from the country.

Trump has won the U.S. presidential election. Xi Jinping congratulated the president-elect, hoping the two countries “find the right way for China and the United States to get along with each other in the new era.” For China, this presents both opportunities and challenges.

Should the president-elect withdraw the U.S. from international agreements and organizations, Beijing could step in to project itself as a stabilizing global player. In his first presidency, the U.S. withdrew from the Paris Climate Agreement, the Iran nuclear deal (JCPOA), and the Trans-Pacific Partnership (TPP) while imposing tariffs on allies such as the European Union and Canada. These actions strained relations with traditional allies in Europe, the Middle East, and Asian partners, creating uncertainty in international trade and diplomatic efforts. Trump’s ‘America First’ approach, emphasizing unila…