US-China relations: Biden rouses optimism among businesses in mainland manufacturing hubs

US-China relations: Biden rouses optimism among businesses in mainland manufacturing hubs

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.

Many are confident trade will receive a boost under the new president, and some trade war tariffs might even be reduced.

“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.