Whether it’s Trump or Biden, US election may lead to a redefined US-China trading relationship, says Standard Chartered CEO

Name: Hong Kong, Singapore announce plans for quarantine-free travel bubble
Uploaded: 2020-11-01T23:30:25.000Z
Duration: 1 min 43 s
Description: Hong Kong, Singapore announce plans for quarantine-free travel bubble

US likely to remain ‘relatively hostile’ to China, even with a Biden win, Standard Chartered CEO said

Election could clear a path for countries to negotiate a ‘new way of doing business’, he said

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Standard Chartered CEO Bill Winters said the American election could ease the path to negotiations for a “new way of doing business” between the US and China. Photo: Xiaomei Chen

Chad Bray

Published: 7:30am, 2 Nov 2020Updated: 11:45am, 6 Nov 2020

The coming American election may open the door for a slight thawing in the US-China relationship – or at least a “new way of doing business” between the world’s biggest economies, according to Bill Winters, Standard Chartered’s chief executive.

Even if former US vice-president Joe Biden wins by an overwhelming margin, the US is likely to remain “relatively hostile” to China, Winters said.

But, the possibility exists for US President Donald Trump or a Biden administration to come to an agreement that allows for a redefined trading relationship between Washington and Beijing, which would be good for the global economy, Winters said.

Things continuing as they have under a second Trump term would be “problematic”, he said.

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Hong Kong, Singapore announce plans for quarantine-free travel bubble

“I would not expect things to go back to pre-Trump times, but I could imagine a reconciliation that would allow business to carry on, not dissimilar to the way it is now,” Winters said.

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