The world seems like a calmer place after the Group of 20 meeting in Bali in mid-November. The question is why.

We know that U.S. President Joe Biden and Chinese President Xi Jinping held a three-hour in-person meeting that went well, despite their many policy differences and their countries¡¯ growing antagonism. It was also helpful that Russian President Vladimir Putin didn¡¯t show up and that Russia¡¯s war in Ukraine didn¡¯t overshadow the Sino-American discussions. In fact, the G20 issued a statement declaring that, ¡°Most members strongly condemned the war in Ukraine.¡±

Indian Prime Minister Narendra Modi and Xi also had a relatively successful meeting in Bali. The two leaders smiled and shook hands, which was a significant improvement from the Shanghai Cooperation Organization meeting in September, when they could barely make eye contact.