considering applying for membership in the alliance. Dmitri A. Medvedev, Russia’s former president and prime minister, said Moscow would be forced to “seriously strengthen” its defenses in the Baltics if the two countries were to join.

“The surrounding forces draw in closer, tighten the flanks and then methodically destroy” those trapped inside with artillery, he said, recalling a strategy that nearly cost him his life.

designated a single theater commander, Gen. Aleksandr V. Dvornikov, a former commander of the Russian army in Syria known for brutal tactics there.

And the fight in the east will begin closer to supply lines stretching back to the Russian border; that could be key for a mechanized Russian army advancing in a major conventional assault across the countryside.

“They are now prepared to fight the war that they really want,” the retired Gen. Philip M. Breedlove, a former NATO supreme allied commander for Europe, said of the Russians. “They want to meet force on force in open fields and go at it.”

Andrew E. Kramer reported from Kyiv, Ukraine; Eric Schmitt from Washington; Thomas Gibbons-Neff from Kharkiv, Ukraine; and Michael Schwirtz from Lviv, Ukraine.

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Crypto Industry Helps Write, and Pass, Its Own Agenda in State Capitols

In July, the state ordered a dozen A.T.M. providers that sell crypto in exchange for cash — including Cash Cloud, Coin Now and DigiCash — to register as money transmitters, despite appeals from the companies, documents obtained by The Times show.

Last year, Mr. Aloupis introduced the bill to exempt two-party crypto transactions, after lobbying appeals by Mr. Armes and a trade group he leads, the Florida Blockchain Business Association. (Its members include Binance, the large crypto exchange.) The bill failed to win Senate approval, and it was reintroduced for this year’s session.

Russell Weigel, the Florida commissioner of the Office of Financial Regulation, said he endorsed the legislation that Mr. Armes had championed.

“If I go and buy groceries at your food store, that’s a two-party transaction,” Mr. Weigel said. “Do I need a license for that? It seems absurd.”

Lobbyists for Blockchain.com, a cryptocurrency exchange that moved last year from New York to Miami, and Bit5ive, which manufactures crypto mining equipment in the Florida area, joined the effort, contacting dozens of state lawmakers.

“They are very pro crypto,” Robert Collazo, the Bit5ive chief executive, said of Florida lawmakers.

In the future, the company plans to raise money for crypto-friendly legislators in Florida, said Michael Kesti, Bit5ive’s lobbyist. The legislative affairs director of the Florida blockchain association, Jason Holloway, is already running for the State House, with donations — some in cryptocurrency — from Mr. Armes and others.

“I don’t want it to seem like we are paying for the influence,” Mr. Kesti said. “But we do want to support them.”

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Will War Make Europe’s Switch to Clean Energy Even Harder?

At the Siemens Gamesa factory in Aalborg, Denmark, where the next generation of offshore wind turbines is being built, workers are on their hands and knees inside a shallow, canoe-shaped pod that stretches the length of a football field. It is a mold used to produce one half of a single propeller blade. Guided by laser markings, the crew is lining the sides with panels of balsa wood.

The gargantuan blades offer a glimpse of the energy future that Europe is racing toward with sudden urgency. The invasion of Ukraine by Russia — the European Union’s largest supplier of natural gas and oil — has spurred governments to accelerate plans to reduce their dependence on climate-changing fossil fuels. Armed conflict has prompted policymaking pledges that the more distant threat of an uninhabitable planet has not.

Smoothly managing Europe’s energy switch was always going to be difficult. Now, as economies stagger back from the second year of the pandemic, Russia’s attack on Ukraine grinds on and energy prices soar, the painful trade-offs have crystallized like never before.

Moving investments away from oil, gas and coal to sustainable sources like wind and solar, limiting and taxing carbon emissions, and building a new energy infrastructure to transmit electricity are crucial to weaning Europe off fossil fuels. But they are all likely to raise costs during the transition, an extremely difficult pill for the public and politicians to swallow.

unwinding efforts to shut coal mines and stop drilling new oil and gas wells to replace Russian fuel and bring prices down.

proposed a carbon tax on imports from carbon-producing sectors like steel and cement.

And it has led the way in generating wind power, especially from ocean-based turbines. Siemens Gamesa Renewable Energy, for example, has been instrumental in planting rows of colossal whirligigs at sea that can generate enough green energy to light up cities.

Europe, too, is on the verge of investing billions in hydrogen, potentially the multipurpose clean fuel of the future, which might be generated by wind turbines.

halted approval of Nord Stream 2, an $11 billion gas pipeline under the Baltic Sea that directly links Russia to northeastern Germany.

As Ursula von der Leyen, the European Commission president, said when she announced a plan on March 8 to make Europe independent of Russian fossil fuels: “We simply cannot rely on a supplier who explicitly threatens us.” The proposal calls for member nations to reduce Russian natural gas imports by two-thirds by next winter and to end them altogether by 2027 — a very tall order.

This week, European Union leaders are again meeting to discuss the next phase of proposals, but deep divisions remain over how to manage the current price increases amid anxieties that Europe could face a double whammy of inflation and recession.

On Monday, United Nations Secretary General António Guterres warned that intense focus on quickly replacing Russian oil could mean that major economies “neglect or kneecap policies to cut fossil fuel use.”

price of palladium, used in automotive exhaust systems and mobile phones, has been soaring amid fears that Russia, the world’s largest exporter of the metal, could be cut off from global markets. The price of nickel, another key Russian export, has also been rising.

Mr. Rasmussen and other executives added that identifying suitable areas for wind turbines and obtaining permits required for construction take “far too long.” Challenges are based on worries that the vast arrays of turbines will interfere with fishing, obstruct naval exercises and blight views from summer houses.

To Kadri Simson, Europe’s commissioner for energy, renewable energy projects should be treated as an “overriding public interest,” and Europe should consider changing laws to facilitate them.

“We cannot talk about a renewables revolution if getting a permit for a wind farm takes seven years,” Ms. Simson said.

Still, environmental regulations and other rules relating to large infrastructure installations are usually the province of countries rather than European Union officials in Brussels.

And steadfast opposition from communities and industries invested in fossil fuels make it hard for political leaders to fast-track energy transition policies.

In Upper Silesia, Poland’s coal basin, bright yellow buses display signs that boast they run on 100 percent electric, courtesy of a grant from the European Union. But along the road, large billboards mounted before the invasion of Ukraine by state-owned utilities — erroneously — blame Brussels for 60 percent of the rise in energy prices.

Down in the Wujek coal mine, veterans worry if their jobs will last long enough for them to log the 25 years needed to retire with a lifelong pension. Closing mines not only threatens to devastate the economy, several miners said, but also a way of life built on generations of coal mining.

“Pushing through the climate policy forcefully may lead to a drastic decrease in the standard of living here,” said Mr. Kolorz at Solidarity’s headquarters in Katowice. “And when people do not have something to put on the plate, they can turn to extreme populism.”

Climate pressures are pushing at least some governments to consider steps they might not have before.

German officials have determined that it is too costly to keep the country’s last three remaining nuclear power generators online past the end of the year. But the quest for energy with lower emissions is leading to a revival of nuclear energy elsewhere.

Britain and France say they plan to invest in smaller nuclear reactors that can be produced in larger numbers to bring down costs.

Britain might even build a series of small nuclear fusion reactors, a promising but still unproven technology. Ian Chapman, chief executive of the U.K. Atomic Energy Authority, said every route to clean energy must be tried if there is to be any hope of reaching net zero emissions in three decades, the deadline for avoiding catastrophic climate change. “We’ve got to do everything we possibly can,” he said.

In the short term, much of what the European Union is proposing involves switching the source of fossil fuels, and, in particular, natural gas, from Russia to other suppliers like the United States, Qatar and Azerbaijan, and filling up storage facilities as a buffer. The risk is that Europe’s actions will further raise prices, which are already about five times higher than a year ago, in a market where supplies are short in part because companies are wary of investing in a fuel that the world ultimately wants to phase out.

Over the longer term, Europe and Britain seem likely to accelerate their world-leading rollout in renewable energy and other efforts to cut emissions despite the enormous costs and intense disruptions.

“The E.U. will almost certainly throw hundreds of billions of euros at this,” said Henning Gloystein, a director for energy and climate at Eurasia Group, a political risk firm. “Once the trains have left the station, they can’t be reversed.”

Melissa Eddy contributed reporting.

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They Made Millions on Luna, Solana and Polygon: Crypto’s Boom Beyond Bitcoin

Brenda Gentry, 46, a cryptocurrency speculator from San Antonio, said she started buying Bitcoin in 2020 before switching her focus to lesser-known tokens like Bund, which is tied to a decentralized sports-betting network. Ms. Gentry’s Bund trades netted her around $400,000 in profits, she said, and her total portfolio is now in the mid-six figures, after taking a hit from the recent drop in prices.

“It’s like a child walking into a candy store,” Ms. Gentry said, noting that she can buy one token, then convert it into another, and then another.

On top of her cryptocurrency investments, Ms. Gentry, a former mortgage underwriter, has found work as a consultant advising DeFi and NFT projects. She’s planning to use her cryptocurrency income to buy an acre in San Antonio. She wants to build a house, with a crypto mining operation in a storage unit next door.

Many people who have gotten wealthy through little-known cryptocurrencies said they didn’t plan to cash out. They said they preferred to HODL, or hold on for dear life, and keep speculating.

Consider Mr. vantKruys, the Luna investor. He said he recently used about $1 million of his cryptocurrency holdings to buy a house for a loved one. But he has no interest in selling his stash of Luna, despite market volatility that led to a drop from $99 to below $50 per coin between December and January.

“My idea is Luna is going to be $500 in five years,” said Mr. vantKruys, who is 45. “That’s the horizon we’re playing with.”

Recently, he has become fixated on another obscure token, Pocket Network, that offers digital infrastructure for a range of blockchain initiatives. (Mr. vantKruys, the managing partner at the crypto fund TRGC, is an adviser on the Pocket Network project.)

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Why Tesla Soared as Other Automakers Struggled to Make Cars

For much of last year, established automakers like General Motors and Ford Motor operated in a different reality from Tesla, the electric car company.

G.M. and Ford closed one factory after another — sometimes for months on end — because of a shortage of computer chips, leaving dealer lots bare and sending car prices zooming. Yet Tesla racked up record sales quarter after quarter and ended the year having sold nearly twice as many vehicles as it did in 2020 unhindered by an industrywide crisis.

Tesla’s ability to conjure up critical components has a greater significance than one year’s car sales. It suggests that the company, and possibly other young electric car businesses, could threaten the dominance of giants like Volkswagen and G.M. sooner and more forcefully than most industry executives and policymakers realize. That would help the effort to reduce the emissions that are causing climate change by displacing more gasoline-powered cars sooner. But it could hurt the millions of workers, thousands of suppliers and numerous local and national governments that rely on traditional auto production for jobs, business and tax revenue.

Tesla and its enigmatic chief executive, Elon Musk, have said little about how the carmaker ran circles around the rest of the auto industry. Now it’s becoming clear that the company simply had a superior command of technology and its own supply chain. Tesla appeared to better forecast demand than businesses that produce many more cars than it does. Other automakers were surprised by how quickly the car market recovered from a steep drop early in the pandemic and had simply not ordered enough chips and parts fast enough.

G.M. and Stellantis, the company formed from the merger of Fiat Chrysler and Peugeot, all sold fewer cars in 2021 than they did in 2020.

Tesla’s production and supply problems made it an industry laughingstock. Many of the manufacturing snafus stemmed from Mr. Musk’s insistence that the company make many parts itself.

Other car companies have realized that they need to do some of what Mr. Musk and Tesla have been doing all along and are in the process of taking control of their onboard computer systems.

Mercedes, for example, plans to use fewer specialized chips in coming models and more standardized semiconductors, and to write its own software, said Markus Schäfer, a member of the German carmaker’s management board who oversees procurement.

traced to the outbreak of Covid-19, which triggered an economic slowdown, mass layoffs and a halt to production. Here’s what happened next:

It also helps that Tesla is a much smaller company than Volkswagen and Toyota, which in a good year produce more than 10 million vehicles each. “It’s just a smaller supply chain to begin with,” said Mr. Melsert, who is now chief executive of American Battery Technology Company, a recycling and mining firm.

recall more than 475,000 cars for two separate defects. One could cause the rearview camera to fail, and the other could cause the front hood to open unexpectedly. And federal regulators are investigating the safety of Tesla’s Autopilot system, which can accelerate, brake and steer a car on its own.

“Tesla will continue to grow,” said Stephen Beck, managing partner at cg42, a management consulting firm in New York. “But they are facing more competition than they ever have, and the competition is getting stronger.”

The carmaker’s fundamental advantage, which allowed it to sail through the chip crisis, will remain, however. Tesla builds nothing but electric vehicles and is unencumbered by habits and procedures that have been rendered obsolete by new technology. “Tesla started from a clean sheet of paper,” Mr. Amsrud said.

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Can a Tiny Territory in the South Pacific Power Tesla’s Ambitions?

Even with guardrails in place, natural resource extraction remains a sensitive issue in New Caledonia. Nickel prices are up by about 25 percent this year, reflecting the mineral’s importance in the campaign to move away from fossil fuels. But so far, that has not led to greater profits for miners.

Goro’s previous owner, the Brazilian mining giant Vale, was desperate to rid itself of the mine. Tensions over who would buy the nickel processing plant led to protests that forced Goro to shut for months, the kind of supply chain disruption that could be disastrous for Tesla. The conflict also triggered the fall of New Caledonia’s government earlier this year.

“In the history of nickel in New Caledonia, a battle exists between the multinational and the local populations, and there is also the colonial history,” said Mr. Mapou, who took power after the Goro conflict and is the territory’s first Kanak president. “With Tesla, with the new ownership, we have a compromise now that makes it possible to open the Goro plant, but it remains fragile.”

The coastal road to Goro, meandering past a bay studded with colorful coral, is littered with charred cars. The dozens of burned vehicles are detritus from the monthslong struggle that idled the mine and led to the collapse of New Caledonia’s government in February. And they are a visceral reminder of the tense politics that could stymie Tesla’s efforts to secure a steady supply of nickel.

André Vama was one of hundreds of Kanaks who barricaded the road with burning tires and vehicles this year, strangling the mine’s operations.

“From the start, we have been against this mine,” said Mr. Vama, who is a leader of a local environmental alliance. “This is our national patrimony, our assets, and the Kanaks, who are victims of history, are not in control of what should be ours.”

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Digital Currency Group and Jamestown Partner to Bring One Times Square to the Decentraland Metaverse

NEW YORK–(BUSINESS WIRE)–Digital Currency Group (DCG), the most active investor in the blockchain and digital assets industry, and global real estate firm Jamestown today announced a joint partnership to recreate One Time Square in Decentraland, the leading decentralized virtual world.

DCG is one of the largest owners of digital real estate (“LAND”) in Decentraland. Jamestown is the owner of One Times Square, which is the site of the New Year’s Eve Ball Drop Celebration.

Simon Koster, DCG’s Head of Real Estate, stated, “The metaverse is quickly evolving to bring together the most interesting and alluring parts of our favorite physical places around the world. From destinations, to gaming, education, retail and more, we can expect the metaverse to revolutionize our current online experience. This event highlights how virtual events can cohesively integrate with real ones in an effort to bring once-in-a-lifetime experiences to so many that would have never been able to participate otherwise.”

The future of real estate is the thoughtful integration of the virtual and physical worlds, optimized for user experience,” said Michael Phillips, President of Jamestown. “The metaverse is an important part of the evolution of real estate and the built environment. Whereas physical real estate is largely limited to people with geographic proximity, the metaverse can give people around the world meaningful access to places through immersive virtual experiences. Recreating One Times Square in the Decentraland metaverse is part of a larger digital asset strategy to evolve and enhance our physical real estate for Web 3.0 and open new pathways for our assets to exist in multiple metaverses in the future.”

The Decentraland community is ready for this perfect capstone to an incredible year,” said Fede Molina on behalf of the Decentraland Foundation. “We can’t wait to ring in 2022 with friends all over the world and show off how far our ecosystem has come. The partnership between Jamestown and DCG to develop One Times Square embodies the beauty of Decentraland: brands and builders bring their diverse assets and ideas to our virtual world, and, in so doing, enrich the experience for all.”

The Party

The virtual One Times Square (-106, -119) will launch in Decentraland on New Year’s Eve with the MetaFest 2022 global party featuring music and entertainment acts, rooftop VIP lounges, CryptoArt galleries, and immersive games. Live feeds of the real-world Times Square and virtual Zoom parties will stream on digital billboards, bringing global partygoers together in the metaverse to celebrate the New Year.

Official programming will begin at 11:00 p.m. EST and continue into the early hours of 2022.

CoinDesk, the leading crypto media and events company, will debut year-in-review video content in its auditorium (-103, -120) and broadcast interviews with people on its “Most Influential” list. Partygoers who visit the space can claim QR codes for discounted tickets to Consensus, the annual crypto festival, taking place in Austin in June 2022.

The Build

Leading metaverse development firms GrowYourBase and MetaVenture Studios were engaged to construct and operate the virtual One Times Square in Decentraland. It is the first high-rise build in Decentraland and includes the recreation of the physical asset’s digital signage and New Year’s Eve Ball.

In addition to the One Times Square building, the build area, which spans approximately 170 LAND parcels, includes five buildings, each with distinct exteriors and activated interiors.

The Metaverse

Decentraland is a decentralized metaverse; anyone can enter as an avatar and purchase LAND and other in-world goods with Decentraland’s native MANA currency. It launched publicly at the start of 2020 with events starting in 2021. Since its launch, Decentraland has attracted celebrities like DeadMau5, 3LAU, and Paris Hilton to headline its virtual festivals. In 2021, Decentraland saw a 15x increase in daily active users.

The History

MetaFest 2022 is the latest chapter in a long history of New Year’s Eve celebrations focused on Times Square. Revelers began celebrating New Year’s Eve in Times Square in 1904, and the New Year’s Eve Ball made its debut atop One Times Square in 1907. Over a century later, it is still the focal point of New Year’s Eve celebrations around the world.

Today, hundreds of thousands of people typically attend the real-life Times Square New Year’s Eve Celebration each year, while more than 1 billion people worldwide view one of the many live broadcasts of the festivities. People also can experience New Year’s Eve in Times Square through VNYE, an immersive virtual experience launched by Jamestown in 2020. Through the VNYE app and vnye.com, which reached more than 3.7 million people in its inaugural year, people can explore Times Square, play games, and livestream New Year’s Eve celebrations in Times Square and around the world.

About Digital Currency Group

Founded in 2015 by CEO Barry Silbert, DCG is the most active investor in the blockchain sector, with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than 200 blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets. In addition to its investment portfolio, DCG is the parent company of Genesis (a global digital asset prime brokerage), Grayscale Investments (the world’s largest digital currency asset manager), CoinDesk (a leading financial media, data, and information company), Foundry (a leader in bitcoin mining and staking), Luno (a leading cryptocurrency platform with a large international footprint), and TradeBlock (an institutional trading platform).

About Jamestown

Jamestown is a global, design-focused real estate investment and management firm with a 38-year track record and mission to create places that inspire. Since its founding in 1983, Jamestown has executed transactions in excess of $35 billion. As of September 30, 2021, Jamestown has assets under management of $13.1 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. Jamestown employs more than 400 people worldwide with headquarters in Atlanta and Cologne, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, Milan, New York, San Francisco, and Washington. Current and previous projects include One Times Square and Chelsea Market in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, the Innovation and Design Building in Boston, and Groot Handelsgebouw in Rotterdam. For more information, visit www.jamestownlp.com.

One Times Square Decentraland Press Experience

We will be hosting a private, guided walk-through of the development for members of the press prior to the launch event. On New Year’s Eve, members of the press are invited to join our teams in the private gallery for a special viewing of the Ball Drop Celebration.

Please contact Media@jamestownlp.com or press@dcg.co to register your interest.

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Battling for Bolivia’s Lithium That’s Vital to Electric Cars

“The amount of lithium we need in any of our climate goals is incredible,” said Anna Shpitsberg, the U.S. deputy assistant secretary of state for energy transformation. “Everyone is trying to build up their supply chains and think about how to be strategic.”

But Washington has little sway in Bolivia, whose leaders have long disagreed with the American approach to drug policy and Venezuela. That may explain why some energy executives do not think Bolivia is worth the risk.

“You’ve had 30 years’ worth of projects in Bolivia with almost nothing to show,” said Robert Mintak, chief executive of Standard Lithium, a publicly traded mining company based in Vancouver, British Columbia, referring to lithium development efforts dating back to 1990. “You have a landlocked country with no infrastructure, no work force, political risk, no intellectual property protection. So as a developer, I would choose someplace else that is safer.”

Mr. Egan sees the odds differently.

That Mr. Egan has gotten this far is a marvel. He learned about Bolivian lithium only by chance when he and a friend crisscrossed South America as tourists in 2018.

When they got to the salt flats, a guide explained that they were standing on the world’s largest lithium reserve. “I thought, ‘I don’t know how I’m going to do this, but I need to be involved,’” Mr. Egan said.

He had tried his hand as a sports and music agent and ran a small investment fund at the time. He had invested in Tesla in 2013 at $9 a share; it now trades around $975. (He would not reveal how many shares he had bought and how many he still had.)

But he felt that he wasn’t achieving much. Before Mr. Egan traveled to South America, his father, Michael, the founder of Alamo Rent A Car, advised him to make two lists — of his five biggest passions and of the five industries he thought would grow fastest in the coming decades. Renewable energy was on both lists.

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Biden and Xi Pledge More Cooperation, but Offer No Breakthroughs

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Biden Meets Xi at Virtual Summit

President Biden and Xi Jinping opened talks on a friendly note, with the Chinese leader expressing his desire to move China-U.S. relations forward in a positive direction.

“As I’ve said before, it seems to me our responsibility as leaders of China and the United States, is to ensure that the competition between our countries does not veer into conflict, whether intended or unintended. Just simple, straightforward competition. It seems to me we need to establish some common sense guardrails, to be clear and honest where we disagree and work together where our interests intersect, especially on vital global issues like climate change.”

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President Biden and Xi Jinping opened talks on a friendly note, with the Chinese leader expressing his desire to move China-U.S. relations forward in a positive direction.CreditCredit…Doug Mills/The New York Times

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President Biden and China’s leader, Xi Jinping, pledged at a virtual summit to improve cooperation, but offered no breakthroughs after three and a half hours of talks.

In separate statements after the talks ended, each side emphasized the points of contention that mattered most: lists of mutual grievances that underscored the depth of the divisions between them.

Mr. Biden, the White House said, raised concerns about human rights abuses and China’s “unfair trade and economic policies.” Mr. Xi said that American support for Taiwan was “playing with fire,” and warned that dividing the world into alliances or blocs — a pillar of the new administration’s strategy for challenging China by teaming up with its neighbors — would “inevitably bring disaster to the world.”

In advance of the meeting, White House officials had signaled that there would be no concrete agreements or initiatives, or even an effort to put out a joint statement — usually a pre-negotiated statement on areas of agreement or projects to tackle together.

The two leaders nevertheless expressed a willingness to manage their differences in a way that avoided conflict between the world’s two largest powers. That alone could lower temperature of a relationship that has at times this year threatened to overheat.

“It seems to me we need to establish some common-sense guardrails,” Mr. Biden said, using a phrase his administration has often cited as a goal for a challenging relationship. Addressing Mr. Xi directly, he added: “We have a responsibility to the world, as well as to our people.”

Although the two leaders have spoken by telephone twice this year, the conference was intended to replicate the more thorough discussion of issues of previous summits between the United States and China — something that was not possible because health and political concerns have kept Mr. Xi from traveling since January 2020.

Both men were accompanied by a phalanx of senior aides — the Americans in the Roosevelt Room at the White House and the Chinese inside a chamber in the Great Hall of the People in Beijing. In brief remarks at the beginning of the meeting, each struck a conciliatory tone, flagging areas of disagreement but also pledging to work together.

Mr. Biden, seated before two large screens, noted that the two have “spent an awful lot of time talking to each other” over the years, dating to when Mr. Biden was vice president and Mr. Xi was a rising power in the Chinese leadership. Mr. Xi said he was prepared to move relations “in a positive direction.”

“Although it’s not as good as a face-to-face meeting, I’m very happy to see my old friend,” Mr. Xi said.

Mr. Biden emphasized the need to keep “communication lines open,” according to a White House statement, as the two countries confront disagreements over issues like the future of Taiwan, the militarization of the South China Sea and China’s exploitation of vulnerabilities to bore deeply into the computer networks of American companies, especially defense contractors.

The call, which was initiated at Mr. Biden’s request, reflected his administration’s deep concern that the chances of keeping conflict at bay may be diminishing. Mr. Biden has repeatedly suggested that it should be possible to avoid active military engagement with China, even as the United States engages in vigorous competition with Beijing and continues to confront the Chinese leadership on several significant issues.

The statements hinted at some discussion of “strategic” issues, a phrase that appeared to encompass the nuclear strategies of both nations, but American officials declined to detail those discussions. Some issues that had been the source of speculation before the summit did not come up, including disputes over visas and an invitation to attend the Winter Olympics in Beijing, which begin in February.

Reporting and research by Steven Lee Myers, David E. Sanger, Claire Fu and Li You.

Credit…Taiwan Ministry Of National Defense

China’s leader, Xi Jinping, urged the United States not to test his country’s resolve on the question of Taiwan, an island democracy Beijing claims is part of its territory.

“We are patient and are willing to strive for the prospect of peaceful reunification with the utmost sincerity,” Mr. Xi told President Biden, according to a readout on the meeting released by Chinese state media. “But China will have to take resolute measures if the ‘Taiwan independence’ separatist forces provoke, compel or even cross the red line.”

In vivid language that has come to define Beijing’s strident rhetoric, Mr. Xi criticized politicians in the United States who he said sought to use the island’s status as leverage over Beijing — a trend he described as dangerous. “It is playing with fire, and if you play with fire, you will get burned,” the Chinese readout cited Mr. Xi as saying.

No issue between the United States and China is more contentious than the fate of Taiwan, which functions as an independent nation in all but official recognition by most of the world.

The People’s Republic of China has claimed Taiwan since the defeated Nationalist forces of Chiang Kai-shek retreated there in 1949, but in recent months Beijing has grown increasingly vocal in criticizing U.S. efforts to strengthen the island’s democracy and its military defenses.

Beijing’s assertive language is often coupled with displays of its growing military prowess. It has menaced Taiwan with military exercises simulating an amphibious assault and air patrols that have swept through the island’s air defense identification zone. Many military analysts, including some in the Pentagon, believe that the maneuvers by an increasingly well-equipped Chinese military could be a prelude to an invasion.

The Biden administration, like the Trump administration before it, has warned China that its military operations and threats are dangerous. The United States, which withdrew its official recognition of Taiwan as a condition of re-establishing relations with China in 1979, has responded by stepping up diplomatic efforts to bolster President Tsai Ing-wen of Taiwan.

That has included visits by officials and lawmakers, as well as weapon sales.

China says those efforts stoke popular sentiment in Taiwan to formally declare independence, which Beijing has warned would lead to war. Wariness in China intensified when President Biden answered a question at a televised town hall last month by declaring, imprecisely, that the United States was committed to Taiwan’s defense in the case of an attack.

It was unclear whether President Biden and Mr. Xi directly discussed the question of how the United States would respond, militarily, should Beijing attack Taiwan. The White House’s readout about the virtual meeting only described President Biden as affirming the United States’ position on Taiwan. The statement used longstanding language that acknowledges but does not recognize Beijing’s claim on Taiwan while indicating Beijing should do nothing to change the status quo.

Beijing is likely to be skeptical of the Biden administration’s intentions. “China’s view is that the United States plays rhetorical games on the Taiwan issue, saying that there is one China and that it does not support Taiwan independence, while it makes actual deals with Taiwan,” said Wu Xinbo, director of the center for American studies at Fudan University in Shanghai. “I think this is still a major divergence point in bilateral relations.”

Reporting and research by Steven Lee Myers and Li You.

Credit…Doug Mills/The New York Times

From China’s perspective, the virtual meeting itself amounts to a vindication of its strategy to wait out the new administration.

After the tumult of the Trump years, China’s leaders hoped to reset the relationship with the United States when President Biden took office in January. When that didn’t happen, officials seemed surprised, then angry.

Senior officials lashed out as Mr. Biden’s national security team challenged China on a variety of issues — from Taiwan to the western Chinese region of Xinjiang, where the State Department has declared a genocide of Uyghurs and other predominantly Muslim ethnic minorities is underway. In a speech in Beijing in July celebrating 100 years of the Chinese Communist Party, China’s leader, Xi Jinping, warned: “The Chinese people will never allow foreign forces to bully, oppress or enslave us. Whoever nurses delusions of doing that will crack their heads and spill blood on the Great Wall of steel built from the flesh and blood of 1.4 billion Chinese people.”

What Beijing did not do was compromise on any of its policy and behaviors that have stoked exactly those divisions, including menacing military patrols and exercises around Taiwan. Instead, it squeezed concessions out of the United States.

Those included the release in September of Meng Wanzhou, an executive of the telecommunications giant Huawei who had been detained in Canada in 2018 on an American arrest warrant. Beijing, infuriated by the detention at the time, retaliated by essentially taking two Canadians hostage.

China continues to warn the United States of its red lines, especially over the fate of Taiwan, but the tone of various public statements has mellowed considerably. That is also in China’s interest heading into the Winter Olympics in Beijing in February and the 20th National Congress of the Communist Party in November.

“I think that both countries want to bring down the temperature,” said Ali Wyne, an analyst focused on U.S.-China relations with the Eurasia Group, a consultancy based in Washington. “They both recognize that threshold between intensifying competition and unconstrained rivalry is tenuous.”

Credit…Alex Plavevski/EPA, via Shutterstock

President Biden and Xi Jinping, China’s top leader, made no apparent progress on trade issues at their virtual summit, but they struck a hopeful note about the potential for future deals.

Some of the differences were on display in the accounts the two sides released after the meeting. Mr. Biden repeated U.S. calls for China to live up to its agreement early last year to import more American goods, a senior administration official said. An official Chinese statement did not mention the agreement publicly, but it said Mr. Xi described the bilateral trade relationship as “mutually beneficial” while calling for trade not to be politicized.

There was no announcement of multi-billion-dollar commercial purchases of American products of the sort that Donald J. Trump, the former president, had sought from China. Trade officials from both sides would hold more talks, the senior administration official said.

The softer tone of the rhetoric on both sides in recent weeks and at the virtual summit has nonetheless inspired some optimism, particularly in China, on economic issues.

“I think gradually trade disputes will be resolved,” said Chen Dingding, a professor of international relations at Jinan University in Guangzhou. “We’ll see some concrete measures very soon.”

Wide differences between the two countries remain, including about the commitments the two sides made in striking their trade war truce early last year. That truce, dubbed the Phase 1 trade agreement, called for China to buy $380 billion worth of American goods by the end of 2021. But based on China’s purchases through September of this year, the country is on track to buy only three-fifths of that, according to data compiled by the Peterson Institute for International Economics in Washington.

China has bought large quantities of American corn, pork and other farm goods, but far fewer manufactured goods and far less fossil fuels than were called for by the Phase 1 agreement. That is partly because China has not placed large orders lately for Boeing jets, as air travel slowed during the pandemic. China has also been cautious about signing long-term agreements to buy American natural gas.

China is reportedly close to allowing Boeing 737 Max jets to return to its skies after crashes about three years ago in Ethiopia and Indonesia. The Federal Aviation Administration approved the plane late last year, and it has since been widely used elsewhere without incident.

China’s statement did not mention jetliners, but did say that Mr. Xi had called for closer cooperation on natural gas, although there were no details.

There have also been some hints of compromise on the American side. Katherine Tai, the U.S. trade representative, announced last month that the Biden administration would restart a Trump-era procedure for excluding a few specific products from tariffs. The exemptions are for products that American companies can prove that they genuinely need and cannot readily purchase elsewhere.

China was allowed to retain some tariffs on U.S. goods under the Phase 1 agreement, but has already issued exemptions for most of its tariffs.

Mr. Biden’s economic deputies are traveling elsewhere in Asia this week, strengthening ties to counterbalance the Chinese relationship. Ms. Tai and Commerce Secretary Gina M. Raimondo are touring the region, meeting with economic officials in Japan, Singapore, Malaysia, South Korea and India.

Credit…Stefani Reynolds for The New York Times

When President Biden connected with the Chinese leader, Xi Jinping, on a video call late Monday, each did so from two of the best-known rooms in their respective country’s statecraft.

Despite the physical distance from which the two talked, the choice of setting underscored the importance of the meeting and the attention to diplomatic protocol, even in an era of Zoom calls and coronavirus.

President Biden called from the Roosevelt Room, a famed meeting area in the White House, which President Nixon in 1969 renamed for Presidents Theodore Roosevelt and Franklin Roosevelt. Today, the room is frequently used to announce nominations and as a preparatory room for delegations before meeting the president.

Mr. Xi dialed in from the East Hall in China’s Great Hall of the People, a room featuring a large mural of a mountain landscape with a poem from Mao Zedong, the founder of the People’s Republic of China. That room is perhaps best known as the place where new members of the country’s Politburo Standing Committee are announced. The Great Hall of the People is a cavernous structure of ornate rooms built alongside Tiananmen Square in Beijing; it is where the Chinese Communist Party and China’s government stage their most important meetings.

In a video broadcast before the meeting, Kang Hui, an anchor for China’s state television broadcaster, pointed out that the East Hall has been the site of many high-profile state visits, and more recently has been the staging ground for Mr. Xi to virtually connect in meetings with other leaders and major conferences.

With strict protocols and lengthy quarantines in place to prevent the spread of Covid-19 across China’s borders, Mr. Xi has not left the country in almost two years.

Credit…Thomas Peter/Reuters

During the summit, President Biden was candid about his concerns about the state of human rights in China, administration officials said.

Xi Jinping, China’s most authoritarian leader in decades, has been accused of overseeing a widespread rollback of individual freedoms across the country. According to the official readout from the Chinese government, he defended Beijing’s political model and said that while China was willing to discuss human rights, it would not be lectured by outsiders. “We do not approve of interfering in other countries’ internal affairs through human rights issues,” he told Mr. Biden.

China has drawn scrutiny from Western democracies over its crackdown in Xinjiang, where the authorities have rounded up and detained Uyghurs and other Muslim minorities in large numbers, and in Hong Kong, where a harsh national security law has undone many of the city’s democratic traditions.

The Biden administration has stuck by the Trump administration’s accusations of genocide in Xinjiang, and more recently, also raised concerns over the fate of Zhang Zhan, a citizen journalist whose family and friends say is critically ill in prison. Ms. Zhang is being held for documenting the chaos of the early days of the outbreak of the coronavirus in Wuhan.

President Biden has worked quickly to enlist allies to join his campaign to pressure China on issues such as human rights and trade. The U.S. Secretary of State, Antony Blinken, said this year that Beijing was routinely undercutting Hong Kong’s autonomy, and that the Biden administration would push back against what he described as coercion from China.

Mr. Xi has previously dismissed what Beijing sees as sanctimonious preaching.

When the United States imposed sanctions on Chinese officials over Hong Kong and Xinjiang, Beijing retaliated with its own penalties. Beijing has also responded to the recriminations with its own criticisms. Chinese diplomats and state media hit out at the United States over the chaotic withdrawal from Afghanistan.

It remains to be seen how firmly Mr. Biden will push Mr. Xi on human rights. In the first face-to-face meeting of American and Chinese officials of Biden’s administration in Alaska, the raising of such issues led to mutual denunciations, setting the tone for a testy relationship.

Credit…Getty Images

Climate policy is the rare area where the United States and China at least appear to be on the same page. At the United Nations climate summit in Glasgow this month, the two countries — the biggest polluting nations — signed a surprise pact to do more to cut emissions this decade.

During the summit on Monday, they reiterated their commitment to the issue, with the United States in its readout saying that the “two leaders discussed the existential nature of the climate crisis to the world.”

But much remains unclear about how the two governments will work together. The Glasgow pact was short on specifics, including any commitment from China on when it will start reducing the amount of carbon dioxide and other gases it generates by burning coal, gas and oil. Beijing has said only that it will do so by 2030.

China’s top leader Xi Jinping said climate policy could become a “new highlight” of cooperation with the United States, according to China’s statement on the summit. But Mr. Xi also reiterated Beijing’s position that China, as the world’s largest developing nation, had different responsibilities to uphold when it came to climate change than the developed countries that pumped out more carbon dioxide over the past century.

China’s mighty manufacturing sector makes it the planet’s No. 1 emitter, responsible for around a quarter of all global emissions. It is also the reason Beijing’s leaders cannot dial back emissions easily or quickly.

Electricity demand is still growing rapidly in China. And the world still depends on Chinese factories to produce electronics, toys, exercise equipment and much else.

Mr. Xi has announced steps to reduce China’s use of coal, the dirtiest fossil fuel. But the country still has extensive plans for building coal-fired power plants and for mining more coal, a need that has been highlighted by recent power shortages caused partly by a lack of coal. China already digs up and burns more of the fuel than the rest of the world.

Although China has been racing to put up wind and solar projects, it has not been able to shift from coal toward natural gas, which emits less carbon dioxide when burned, as quickly as the United States.

Credit…Noel Celis/Agence France-Presse — Getty Images

Lurking beneath the many tensions between Beijing and Washington is the question of whether the two countries are slipping into a Cold War, or something quite different.

One of the few areas of agreement between Xi Jinping, China’s leader, and President Biden is that letting relations devolve into Cold War behavior would be a mistake of historic proportions.During the talks, Mr. Xi implicitly criticized Mr. Biden’s efforts to shore up alliances of democratically minded countries to counter China, saying that “ideological demarcations” would “inevitably bring disaster to the world,” according to an official readout of his comments at the meeting. “The consequences of the Cold War are not far away,” the statement said.

Mr. Biden has insisted that the United States is not seeking a new Cold War. His national security adviser, Jake Sullivan, said last week, “we have the choice not to do that.” The summit meeting between the two leaders is part of a White House effort to make sure that the right choices are made — and that accidents and misunderstandings do not propel either country in the wrong direction.

There are many reasons to argue that what is happening today is quite different from the Cold War. The amount of economic interchange, and entanglement, between the United States and China is huge; with the Soviet Union it was minuscule. Both sides would have a huge amount to lose from a Cold War; Mr. Xi and Mr. Biden both know that and have talked about the risks.

Other deep links — the mutual dependencies on technology, information and raw data that leaps the Pacific in milliseconds on American and Chinese-dominated networks — also never existed in the Cold War.

“The size and complexity of the trade relationship is underappreciated,” Mr. Biden’s top Asia adviser, Kurt M. Campbell, said in July as part of his argument of why this moment significantly differs from the Cold War of 40 years ago.

Still, with his repeated references this year to a generational struggle between “autocracy and democracy,” Mr. Biden has conjured the ideological edge of the 1950s and ’60s. And so has Mr. Xi at moments, with his talk about assuring that China is not dependent on the West for critical technologies, while also trying to make sure that the West is dependent on China.

Without question, the past several months have resounded with echoes of Cold War behavior: the Chinese air force running sorties in Taiwan’s air identification zone; Beijing expanding its space program, launching three more astronauts to its space station and accelerating its tests of hypersonic missiles meant to defeat U.S. defenses; and the release of a top Huawei executive for two Canadians and two Americans in what looked like a prisoner swap.

At the same time, the United States announced that it would provide nuclear submarine technology to Australia, with the prospect that its subs could pop up, undetected, along the Chinese coast. It did not escape Chinese commentators that the last time the United States shared that kind of technology was in 1958, when Britain adopted naval reactors as part of the effort to counter Russia’s expanding nuclear arsenal.

Credit…Xie Huanchi/Xinhua, via Associated Press

That the summit was taking place virtually, not in person, was a concession to China’s leader, Xi Jinping.

The White House had hoped that he and President Biden would meet at the Group of 20 gathering in Rome last month, but Mr. Xi did not attend. He has not left China since Mr. Biden took office in January — in fact, not since January 2020, when the coronavirus was beginning to spread from China.

The ostensible reason for remaining home still seems to be Covid-19, but some experts have speculated that Mr. Xi could not afford to be away before an important political gathering that ended last week.

He used that forum to solidify his stature within the Communist Party, bolstering his case for what is widely expected to be a third five-year term as China’s paramount leader, beginning next year. With the coronavirus still a threat, it is conceivable that Mr. Xi might stay home until the party’s national congress next November.

That reflects more than just internal political machinations. It is in keeping with China’s increasing insularity, forged by a growing confidence — hubris, some might say — that the country under Mr. Xi’s leadership is the master of its own destiny, less dependent on the rest of the world for validation as its economic and military might solidifies.

Still, Mr. Xi’s absence has coincided with the withering of China’s international standing, with public sentiment in many countries turning against the country’s behavior at home and abroad. He faced sharp criticism for submitting a letter to the climate talks in Glasgow and for joining India in watering down the final statement to reduce pressure on cutting the use of coal.

Ever since President Nixon stunned the United States in 1971 by announcing that he would travel to China, meetings between American and Chinese leaders have become milestones in a relationship fraught with hope.

In the five decades that have followed, the relationship between the two countries has lurched between cooperation and confrontation. In 1979, Mao Zedong’s successor, Deng Xiaoping, met President Carter in Washington to normalize diplomatic ties and end years of mutual hostility.

That was followed by meetings with Ronald Reagan in 1982 and George H.W. Bush in February 1989 — that one just months before Deng ordered a brutal military crackdown on student protests around Tiananmen Square in Beijing.

Mr. Bush responded to the massacre by suspending all official contacts with the Chinese, but a month later surreptitiously dispatched his national security adviser, Brent Scowcroft, to keep open channels with a country then allied with the United States’ efforts to contain its Cold War rival, the Soviet Union.

There was not another official visit until 1997, when President Clinton played host to Jiang Zemin, who emerged as the country’s leader after Deng’s death, which officials hoped would usher in a new era of openness.

After a while, meeting with Chinese leaders and senior officials became a goal in itself of American foreign policy. The idea was that regular meetings would entwine the Chinese economy with the world’s.

In 2006, President George W. Bush and Hu Jintao announced the creation of a strategic economic dialogue, where officials from both sides could meet regularly to resolve proliferating trade disputes.

When President Obama came to office, the strategic economic dialogue in 2009 became the strategic economic and security dialogue, reflecting emerging conflicts over China’s expansionism in the South China Sea.

A criticism of both the George W. Bush and Obama administrations was that the Chinese smothered the Americans with talk, while doing as they pleased — whether cyberattacks, or militarization of artificial islands in the South China Sea.

U.S.-China summitry may have peaked in 2017. President Trump invited Xi Jinping to his Mar-a-Lago resort in April, where he informed him over “the most beautiful chocolate cake you’ve ever seen” that the United States had bombed Syria.

The two leaders met again that November, when Mr. Trump traveled to Beijing, becoming the first foreign leader to dine in the Forbidden City. “You’re a very special man,” he told Mr. Xi, banking on flattery to win over the Chinese leader. It didn’t.

Credit…Alex Plavevski/EPA, via Shutterstock

The long-smoldering clash between China and the United States over the future of technology hit a rare moment of accord in September, when the Justice Department helped broker a deal that led to the release of a senior executive at the Chinese telecom equipment maker, Huawei.

The two countries have been struggling to find any more common ground in that area.

President Biden has done little to roll back measures put in place under the Trump administration aimed at limiting China’s access to American technology. U.S. officials fear China will use American software and equipment to build government-supported rivals and develop tools to strengthen its surveillance state, including advanced computers, artificial intelligence and facial recognition systems.

Huawei itself remains a point of contention. American authorities helped secure the release of Meng Wanzhou, the Chinese executive who was detained in Canada. But they are still restricting Huawei’s access to critical American semiconductors and software, crimping its business.

While parts of the Biden Administration have called for improving economic ties, many American lawmakers are pushing for even tougher measures on Chinese technology firms. Mr. Biden has invoked competition with China to help pass his infrastructure bill, which seeks to bolster American technology competitiveness.

On China’s side, the country’s drive for self-reliance will likely take precedence over taking steps to regain access to American technology. Beijing is unlikely to back away from its tough limits on the flow of data or free expression online. Those positions have effectively locked most major foreign internet firms out of China. One of the last, LinkedIn, said last month it would shut down there.

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