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President Biden and China’s top leader, Xi Jinping, have sparred for years about how the world should be ordered.

Mr. Biden, who has described Mr. Xi as a “dictator,” has said the preservation of democracy was the “defining challenge of our age.” Mr. Xi has accused the United States of being the “biggest source of chaos” in the world and warned against dangerous Western liberal ideas.

Now, as the two meet as world leaders for probably the last time in Peru on Saturday, it is Mr. Biden’s vision of the world that appears to be in retreat. The U.S. president is exiting the global stage with his stature diminished after Americans voted Donald J. Trump back into power.