James Kynge

And I think correspondingly, Xi Jinping, China's president, is relatively strong.

But just let me try to elaborate why I think this is the first

summit between the U.S.

and China in history where the Chinese side has more power.

The first sitting president to visit China was Richard Nixon in 1972.

At that point, there was no comparison between U.S.

and Chinese power in the world.

The U.S.

GDP, I believe, was about 11 times that of China.

Just as a little trip down memory lane, the first president of the U.S.

to visit China was in fact Ulysses S. Grant, who went in 1879.

But that doesn't count because he was a former U.S.

president at that time, though he did spend six weeks in China.

The last president to visit China was Trump himself back in 2017.

And at that point, I think we can all agree that the US was definitely the more powerful of the two countries.

But where we stand now, and if you disagree with me, please say, Alice, I mean, this is quite a big call I'm making.

But where we stand now is the following.

In nominal terms, the US economy is still bigger than China.

But adjusted for purchasing power parity, China is already a bigger economy than the US.

China is at least a peer competitor when it comes to technological advancement compared to the U.S.