US-China relations: Biden rouses optimism among businesses in mainland manufacturing hubs
- Chinese firms in manufacturing hubs like Guangdong see improving trade ties under US President Joe Biden
- Biden likely to bring more stable business environment, but bilateral frictions expected to remain
Businesspeople in China’s manufacturing powerhouses believe the nation’s economic and technological development could leap forward in coming years because US President Joe Biden is likely to take a less confrontational stance toward the country.
Biden is expected to scale back the antagonistic style that was a hallmark of former President Donald Trump and adopt a China strategy more like that of the Obama administration, according to entrepreneurs and economists.
“Most bosses in Dongguan don’t pay much attention to who is president of the United States,” said David Wang, who runs a business consultancy in Guangdong province, China’s manufacturing and export hub.
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“Their only hope is that the trade war does not escalate, because business is most important to them.”
Stone Xie, a sofa fabric trader in Zhejiang province, was positive about the outlook for US-China trade after a “particularly good” 2020.
“Everyone was very pessimistic when the trade war first started,” she said. “But, in fact, China exports to the US and to the world grew strongly during the trade war.
“Last year the output value of many small- and medium-sized enterprises was more than 100 million yuan (US$15.4 million) or more – a very good year actually.”