The biggest open secret at the annual United Nations General Assembly (UNGA) is that it is not about the UNGA. For world leaders travelling to the event held annually in the United States, this is often about finding photo-opportunities and meetings with senior members of the US administration — with the ones with the American President being the most sought after. These appointments are interpreted as the biggest signs of approval, or the surest signal of slights, and diplomats often begin work months in advance in seeking these meetings and drawing up the agenda.
For Chinese President Xi Jinping, this trip has been only partly political, and with good reason. On August 24 and 25, the Shanghai stock market crashed by over 15 per cent — wiping out billions of dollars of investor worth. On cue, the Dow Jones dropped over 1000 points at opening, the biggest ever drop in points in the index. Understandably, in his first foreign visit since then, Xi’s major task has been assuring American business of the fundamental robustness of the Chinese economy, and stability of Chinese stock markets.