It seems that China’s excitement about the election of Joe Biden was short-lived. Moreover, it was a hasty decision to buy up US natural liquefied gas. President-elect Joe Biden does not plan to immediately end the trade war with China and lift all sanctions. The settlement of such issues requires proper consideration and takes a lot of time.
In his recent interview, Mr. Biden took a clear stance on the matter. Firstly, the new president wants to talk to the US allies in Europe and Asia in order to build a strategy.
Biden intends to achieve progress on China’s abusive practices, such as stealing intellectual property, dumping products, illegal subsidies to corporations, and forcing tech transfers from US companies to their Chinese counterparts.
These goals are exactly the same as those set by Donald Trump at the start of the US-China trade war. Unlike Trump, Biden hopes to succeed without any sanctions imposed. It is still unclear what the president-elect will do. It is highly unlikely that the trade war will come to an end anytime soon.
According to British economist Jim O'Neill, Joe Biden’s presidency will be a bigger problem for the Chinese government than the Trump administration. Biden is likely to turn to international organizations to hold China to account rather than follow Trump’s steps.
