A historic virtual meeting between President Xi Jinping and President Biden was held after many months since President Biden took office in the White House. In the meeting that lasted more than the scheduled time, the two global leaders discussed a range of issues including strategic, economic, climate, energy, and other fundamental issues, which shape the direction of China-US relations. This significant development has been considered as an important step towards building a thaw between the two global leaders, especially when the world is grappling with financial and pandemic-related challenges. The outcomes of this meeting can be divided into three major categories; the principle consensus on two critical issues, agreement on three general principles, and four priority areas of cooperation to improve the understanding and create a room for cooperation between two states. The principle consensus on two critical issues includes the question of Taiwan and taking steps to increase cooperation and communication between the US and China. President Xi firmly reflected on China’s stance on Taiwan and how the US should respect the Chinese sovereignty and territorial integrity by respecting the One China policy and the three China-US Joint Communiqués on Taiwan. Achieving complete reunification of China is a shared dream of every Chinese national. There will be a peaceful strive for peaceful unification of Taiwan with mainland China. Furthermore, President Xi, as a policy statement, warned that the separatist forces of Taiwan’s liberation acted otherwise, especially under the US patronage. Them crossing the red line, China will have no option but to take resolute measures to prevent any attack on sovereignty. President Biden acknowledged the One China policy. However, the fact is that the US is still meddling with the rough waters. This double policy will not augment well for world peace and prosperity. The US should build focus on stabilizing its own house in order with building a better global balance by beginning to avoid poking into the internal matters of countries. The US should build focus on stabilizing its own house in order by beginning to avoid poking into the internal matters of other countries. The second consensus is the rejection of the assertion of a “new Cold War”. China always opposes any secret and the cold war at every level whereby President Biden also clarified that the US does not want a “new Cold War” with China. Given the geopolitical realities, no country, not even US allies, wants to see another Cold War or choose sides between China and the US. President Xi emphasized at the meeting that drawing lines between ideologies or dividing the geography into separate regions or rival camps would cause the world to suffer and cost eternal peace. This was important as both countries are responsible at the global scale for keeping the peace and stability but we have seen the US still on the same path. Furthermore, President Xi has outlined three goals for China and the US to achieve in a new era of cooperation. The foremost is mutual respect. Both countries need to respect each other’s social and political values, acknowledge each other’s fundamental interests and concerns, and support each other’s right to development. Both, China and the US need to treat each other as equals, manage disagreements, and seek common grounds while maintaining their differences. The second most important goal was peaceful coexistence. No conflict and no war is a line that both parties should hold and support. While the third goal is effective cooperation. The interests of both parties are deeply intertwined in a globalized world and the world is large enough for both countries to develop individually but collectively. About the four priority areas, President Xi has identified four major areas in which China and the US should focus their efforts in the future. First, fulfill major international obligations and lead a global response to critical challenges including climate change, global health, energy, climate change, industrial activity, and supply chain. Second, both sides should work in a spirit of equality and profit, advancing trade at all levels and in all areas and inducing positive energy in China-US relations. The two heads of state can always communicate through available channels to determine the direction and advance bilateral relations. The two countries have similar interests in many areas including economics, energy, and military to military cooperation. Other areas of cooperation include International law, education, science, technology, cyberspace, environmental protection, and climate change. Thirdly, managing the disagreements and sensitive issues constructively is the major goal to prevent any conflict disrupting China-US relations. It is natural for both countries to have disagreements but the important element is to manage constructively and contain it without any escalation. Fourth, to strengthen cooperation and cooperation on major international and regional issues aimed at providing more public goods and spreading peace in the world as the world is not at peace amid multiple conflicts. China and the US need to work with the international community to protect world peace, promote global development, safeguard international justice and equality. The US needs to honestly work with truthfulness with China to avoid any conflict. With a clear road map, the US needs to follow the principles of fair play, justice, and mutual respect for all. This is how the world will be prosperous and better. The writer is Founder (Friends of Belt and Road Forum)