Five things to watch in Asia as Trump prepares to meet China's Xi this week

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters BEIJING — The U.S. and China are rallying their East Asia ties ahead of a highly anticipated presidential summit in Beijing later this week. Trade negotiators from both countries are slated to meet in Seoul, South Korea, ahead of U.S. President Donald Trump's meeting with China's Xi Jinping, scheduled for Thursday and Friday. The packed itinerary reflects the regional dynamic at play in U.S.-China relations, with the summit being closely watched by leaders globally . Here's the full agenda: Tuesday: Bessent in Japan U.S. Treasury Secretary Scott Bessent arrived in Japan Monday, where he will meet Japanese Prime Minister Sanae Takaichi, public broadcaster NHK reported. Japan is one of the countries most affected by the Iran war as the Asian nation relies on the Middle East for about 75% of its oil imports . Bessent's visit comes at a time when relations between Beijing and Tokyo have frayed, following Takaichi's comments in November that indicated Tokyo would support Taiwan if threatened by Beijing's military, drawing a sharp response from Beijing . She has not softened her statement, despite Beijing's requests. During her visit to U.S. in March, Trump and Takaichi "committed to peace and stability across the Taiwan Strait ," according to the White House. …