The upcoming Asia Pacific Economic Cooperation (APEC) conference hosted by Bay Area will bring U.S. President-elect Joe Biden and Chinese President Xi Jinping face to face for their first meeting. The conference is seen as a key moment in U.S.- China relations, and its outcome could well determine the future of the bilateral relationship. The meeting, set to take place in the San Francisco suburb of Burlingame on Saturday, is the first time the two leaders will meet since Biden’s election victory. Both men have made clear that they want to reset the U.S.-China relationship, with Biden emphasizing the importance of standing up for human rights and Xi emphasizing the need for global cooperation in tackling climate change and other global issues. This meeting comes at a time of increased tensions between the two nations, with both sides trading accusations and retaliating against each other in numerous areas, particularly on trade. The two leaders also hold fundamentally different views on key issues such as the origin of the coronavirus and Xi’s increasingly authoritarian government. In addition, the two sides are facing a “technology Cold War” due to the high-tech race driving a wedge between countries. The U.S. has imposed restrictions on Chinese telecommunications companies over security concerns, while China has retaliated with its own sanctions on American technology companies. Clearly, this is a crucial meeting between the two leaders. It is a chance for them to get to know each other better and to hammer out some sort of agreement that could pave the way for a more positive relationship in the future. At the same time, it could also increase the tension between the two countries if the meeting fails to yield positive results. Political analysts suggest that Biden and Xi are likely to discuss a “grand bargain” that would involve concessions on both sides, such as the U.S. dropping some of its tariffs on Chinese products and China making more concessions in its trade relationship with the U.S. and other countries. It remains to be seen how much can be accomplished in this meeting. Nevertheless, it is a critical moment and one that could shape U.S.-China relations for years to come. There is much riding on the outcome of Biden and Xi’s meeting at this APEC conference in Bay Area, and the world will be watching intently.