US President Joe Biden met China's Foreign Minister Wang Yi for talks on Friday (local time) as the two countries seek to smooth ties ahead of a possible visit by Chinese leader Xi Jinping and called for working together to address global challenges. The White House said Biden "emphasized that both the United States and China need to manage competition in the relationship responsibly and maintain open lines of communication," and he "underscored that the United States and China must work together to address global challenges." The encounter with Chinese Foreign Minister Wang Yi was the latest in a series…