Trade experts in China and the United States have called on the new administration in Washington to rebuild bilateral ties to prevent a further decoupling of the world’s two largest economies.
Ahead of Joe Biden’s inauguration as US president on Wednesday, business leaders and economists are hoping for a less antagonistic approach towards China, a policy reset, and for some of the damage caused by Donald Trump’s trade war to be repaired.
“[Biden’s] policies will be about returning to multilateralism, returning to international organisations, and returning to the status of fighting without splitting,” Chen Wenling, chief economist at the China Centre for International Economic Exchange, a government-backed think tank, told a seminar in Beijing on Tuesday.
Chen, who is also an economist at the State Council Research Office, which advises on government policy, expected the new US administration to continue its containment policy towards China. But she said an establishment figure like Biden would be more predictable and pragmatic – and ties were likely to improve.