John Quelch, the dean of the University of Miami Herbert Business School, joined Cheddar to talk about the significance of the first phone call between President Joe Biden and China’s President Xi Jinping since February. He noted that while the two superpowers disagree on a host of topics, the path toward diplomacy has to start with the two leaders. But, Quelch also highlighted the need for Biden to assert American interests. "The U.S. cannot afford to back off from its legitimate concerns regarding trade and investment, equality," he said. “A level playing field does not exist competitively when Chinese state-owned enterprises are being subsidized heavily to invest internationally."