Trade
Rick Dunham:
  ·  2021-03-12  ·   Source: Web Exclusive

(The speaker is co-director of Global Business Journalism Program, Tsinghua University) 

Joe Biden understands economics. I think that's a big difference. He understands trade a lot better than Donald Trump. Donald Trump's view of trade was all tied up in surpluses or deficits. And he wasn't much more sophisticated than that. And he also believed as he tweeted, the trade wars were good. That was where he was coming from.   

Joe Biden believes in multiculturalism. And I think that's good for the world. It's good in a lot of ways for the U.S.- China relationship.    

Joe Biden said he would rejoin the World Health Organization, withdrawing Donald Trump's opposition to the new WTO leader. I think you could see right away that there's going to be a change there. 

There is going to be economic competition. The Biden administration will compete differently. The rhetoric may be different. I think that the two nations will be competing a lot of things, including 5G and green energy.There will continue to be tensions on tech issues. I agree with some of the previous speakers, there are things that both governments could do to cool things off with Huawei, with Facebook, with Google. The two nations have used their own national security laws and other regulations to limit competition from the other nation. There will be continuing tensions, but there's room for improvement there.   

A lot of uncertain on trade and sanctions. We know that the world view of Joe Biden is very different from Donald Trump. But Joe Biden is not going to just reverse everything that Donald Trump did on trade. He is looking for some sort of concessions from China so that he's not attacked as being soft on China.  

I think a lot of the potential improvement on trade relations will depend on the Chinese Government's willingness to make some concrete concessions so that Joe Biden has political cover to make some major concessions and roll back some of the Trump policies.  

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