Asking what Xi wants is the wrong question because the appetite grows in the eating. Even if Xi just wants to dominate East and Southeast Asia right now, once China has gained that, their appetite will grow and they will want more.
https://www.youtube.com/watch?v=4aQfzDs7RzI
“He’s insisting on one-on-one talks with China’s leader, Xi Jinping — and this has stifled other diplomatic efforts to halt the worsening trade war between the two global powers.
The president won’t authorize White House delegates to engage with Chinese officials in Beijing about a detente, according to two former senior State Department officials and an industry official, who were granted anonymity to discuss sensitive ongoing discussions. The Senate has yet to confirm an ambassador to China; Trump has not appointed anyone else to lead talks with Beijing; and the White House isn’t reaching out to the Chinese embassy to begin discussions.
The absence of any substantial outreach has frozen meaningful communications between the two countries and threatened the likelihood of a near-term solution.”
https://www.politico.com/news/2025/04/19/trump-xi-china-trade-negotiations-00299645