U.S. President Joe Biden said Wednesday he will continue reinforcing Washington's ties with Asian allies in the remainder of his four-year term until January, partly because of China's rise.
In his address to the nation from the Oval Office to explain his decision to exit the presidential race, Biden said, "The best way forward is to pass the torch to a new generation. That's the best way to unite our nation."
"There is a time and a place for long years of experience in public life. But there's also a time and a place for new voices, fresh voices, yes, younger voices," Biden said, adding he will be focused on fulfilling his duties as president over the next six months.
Biden, who endorsed Vice President Kamala Harris as the Democratic candidate for the race, said those duties include lowering living costs for hardworking people, growing the economy, ending Russia's war against Ukraine and ensuring that the United States remains "strong, secure and the leader of the free world."
In addition, the 81-year-old president said he would keep NATO strong and would be "doing the same for our allies in the Pacific."
"You know, when I came to office, the conventional wisdom was that China would inevitably surpass the United States. That's not the case anymore," he said.
Biden abandoned his reelection bid on Sunday amid mounting pressure from Democrats following his shaky performance during a television debate with Donald Trump, his predecessor and the Republican nominee for president, in late June.
His poor performance raised concerns in his party about the incumbent's fitness to run an effective campaign for the November presidential election and serve another term.
At a campaign rally in North Carolina, Trump said, "As you know, three days ago, we officially defeated the worst president in the history of our country," as he unleashed a torrent of attacks on Harris, the country's first female, first Black and first Asian American vice president.
Harris, 59, has already earned the support of a majority of party delegates ahead of the Democratic Party's nominating convention, which is due to begin in Chicago on Aug. 19.
The party could make Harris its nominee as early as Aug. 1 in an online vote and could formalize the pick of her running mate soon after, according to the Associated Press.
On Wednesday, Biden said Harris is "experienced...tough...(and) capable."
"The great thing about America is here, kings and dictators do not rule. The people do. History is in your hands. The power is in your hands," he said.
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