Business leaders welcome resumption of US-China military dialogue

Business leaders have welcomed US President Joe Biden's announcement that the United States and China are resuming military dialogue.

Biden delivered a speech on Thursday at a CEO meeting for the Asia-Pacific Economic Cooperation summit in San Francisco. The US leader and Chinese President Xi Jinping met the previous day on the sidelines of the summit.

Biden said the US-China military communication channels will be resumed to "reduce the risk of accidental miscalculation." Business leaders applauded the comment.

Biden also stressed the deep ties between the US and other APEC countries and regions.

He said more than 60 percent of US exports go to APEC economies, and that robust, two-way investment "supports good jobs and new opportunities all across the region."