Joe Biden spoke about his meeting with Xi Jinping at a press conference, (Image: AP)Joe Biden said there “need not be a new cold war” between the US and China and that Xi Jinping was “willing to compromise” on some issues. However, China’s leader appeared to draw a red line around Taiwan following talks with the US President.Joe Biden said at the press conference: “We had an open and candid conversation about our intentions and our priorities. It was clear – he was clear and I was clear that we’ll defend American interests and values, promote universal human rights, and stand up to the international order and work in lockstep with our allies and partners.”He added: “I made it clear that our position on Taiwan has not changed at all.”Biden said that the two leaders would have staff meet to discuss any issues, adding: “We raised a lot of issues.”China, for its part, released a statement following the meeting on the sideliners of the G20 summit in Bali, Indonesia.It said: “The two sides should form a correct perception of each other’s domestic and foreign policies and strategic intentions.”China does not seek to change the existing international order or interfere in the internal affairs of the United States, and has no intention to challenge or displace the United States.”It said that Xi Jinping had outlined China’s position on Taiwan, stating that it was at the “core” of China’s interests.It read: He stressed that the Taiwan question is at the very core of China’s core interests, the bedrock of the political foundation of China-US relations, and the first red line that must not be crossed in China-US relations.”Anyone that seeks to split Taiwan from China will be violating the fundamental interests of the Chinese nation; the Chinese people will absolutely not let that happen!”More to follow.