The most eye-catching outcome of President Biden’s long-awaited meeting with China’s top leader, Xi Jinping, was the resumption of U.S.-China cooperation on climate change. Although the two countries maintained informal contact during the ongoing UN international climate summit COP27 that just concluded in Egypt, no formal talks have taken place since Beijing suspended them in response to House Speaker Nancy Pelosi’s (D-Calif.) visit to Taiwan in August. The resumption of formal climate cooperation is a chance for both sides to reset the critical relationship between the world’s two largest emitters. But unlike in the past, when they focused primarily on...