The following is the gist of the meeting on Monday between U.S. President Joe Biden and Chinese President Xi Jinping on Indonesia’s resort island of Bali. — U.S. says Washington, Beijing share responsibility to prevent competition from becoming conflict. — China highlights need to chart right course for U.S.-China ties. — U.S., China to advance discussions to manage competition. — U.S. objects to China’s coercive and increasingly aggressive actions toward Taiwan. — China sees Taiwan issue as 1st “red line” that must not be crossed. — U.S. raises concerns about China’s nonmarket economic …