The Beijing Summit between Donald Trump and Xi Jinping is one of the most consequential geopolitical moments of 2026. Taking place against the backdrop of the war with Iran, disruption in the Strait of Hormuz, tensions over Taiwan, competition over rare earths and a fragile U.S.-China trade truce, the meeting is unlikely to produce a strategic reset. Its real significance lies in whether Washington and Beijing can temporarily stabilise their rivalry, reduce the risk of escalation and manage a competition that now extends across energy, technology, trade and security.