Joe Biden’s US election win welcomed by American businesses in China
- A survey by the American Chamber of Commerce (AmCham) in Shanghai found that a vast majority expect Joe Biden to stabilise fraying US-China tensions
- More than 80 per cent of US firms quizzed do not expect more US trade tariffs on China after Biden’s US election victory over incumbent Donald Trump
American businesses in China have welcomed Joe Biden’s US election victory, hoping that it will help stabilise superpower ties following four years of “sometimes erratic policies”.
Almost two-thirds of companies surveyed by the American Chamber of Commerce (AmCham) in Shanghai said they are more optimistic about doing business in China following Donald Trump’s election loss.
Businesses are signalling that a Biden administration will bring more stability to the US-China relationship
“Businesses are signalling that a Biden administration will bring more stability to the US-China relationship. This will be welcome after several years in which American companies have had to deal with uncertainty and sometimes erratic policies,” said Ker Gibbs, president of AmCham Shanghai, a pro-business lobby group.
There has been rampant speculation since Biden’s electoral victory was called by US news organisations on November 9 as to whether the former vice-president would maintain a hardline on China, or take his foot off the gas.
In a speech on Tuesday, Biden said that he would work with allies to “set the rules of the road” on global trade, following years in which Trump has picked fights with erstwhile partners from the European Union and Mexico to Japan and South Korea.