Weekly News Highlights: 12/14/2020 – 12/20/2020
How to Reset the Relationship Between the U.S. and China
US-China relations are currently at their lowest point, and President-elect Biden will have to deal with various issues regarding relations with China including tariffs, human rights violations, and a tech cold war. This article contains viewpoints from different experts on the state of US-China relations today and how they might change during the Biden administration.
In general, the experts agreed that Biden will continue to be tough on China. In light of the aggressiveness of China and the passiveness of the US, however, James McGregor of APCO Worldwide described the issue as "American underperformance versus Chinese overreach." He continued, "China went too far and even pushed business away, and we have just been pretty lame here in investing in ourselves.” Regardless, though, large American companies such as BlackRock and Goldman Sachs have recently expanded in China. This means that any major harm the US inflicts on China's markets will harm these American companies. Thus, allowing BlackRock and Goldman Sachs into the Chinese markets will likely serve as a deterrent that will prevent the US from doing anything harmful to China.