onsdag 27. januar 2021

U.S. and China will remain at odds under Biden as Beijing flexes on global stage, trade expert says

The U.S. and China had been growing apart before Donald Trump became president, and that trajectory will likely continue under President Joe Biden, a trade expert told CNBC on Monday. “Trump, in my point of view, just about made everything worse. But decoupling began before Trump, and it’s going to continue regardless of what Biden does. I don’t think he’s going to order companies to leave, but I don’t think he’s going to encourage them to stay either,” said William Reinsch, a senior advisor at the Center for Strategic and International Studies.

Trade tensions between China and the U.S. have escalated in recent years. While the two countries reached a so-called phase one trade agreement in January 2020, their differences have spilled over into technology and finance, leading to concerns that the two countries may be “decoupling.” The term refers to a separation, rather than integration, of the world’s two largest economies in areas ranging from trade to technology.