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US presidential election 2020
Hong KongHong Kong economy

American business community in Hong Kong expects ‘more comfortable’ conditions under Biden presidency

  • While many see the Democratic president-elect as a more ‘stable’ option than Donald Trump, the US’ relationship with China is not likely to change much
  • Recent controversial moves, such as revoking Hong Kong’s special trade status, are not expected to be rolled back either, observers predict

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A TV screen on a downtown street in Causeway Bay shows president-elect Joe Biden speaking. Photo: Sam Tsang
Laura Westbrook
American businesses in Hong Kong have largely welcomed a Joe Biden presidency as being better for their interests in the city, while analysts predicted he would maintain his predecessor’s tough stance towards Beijing – albeit in a more measured fashion.
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At the same time though, international relations experts said they could not foresee the Democratic US president-elect rolling back recent controversial measures, such as the Trump administration’s revocation of Hong Kong’s special trade status, and its move to forbid “Made-in-Hong Kong” labels on exported goods in favour of ones reading “Made in China”.
Observers predict recent moves, such as forcing Hong Kong to relabel goods exported to the US as “Made in China”, are unlikely to be rolled back. Photo: Shutterstock
Observers predict recent moves, such as forcing Hong Kong to relabel goods exported to the US as “Made in China”, are unlikely to be rolled back. Photo: Shutterstock

Joseph Ferrigno, an American financier and adviser who has lived in Hong Kong for more than 30 years, said he believed Biden would have “targeted engagement” with China.

“Whereas currently the Trump administration had been doing everything that is reasonable to decouple from China, I think that will change,” Ferrigno said.

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The mood among American companies was generally positive, he added, because they saw a “less confrontational” approach towards China, which would make it “more comfortable” for them to do business with the mainland through Hong Kong.

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