Daily Management Review

Optimism About Biden Administration High Among Most US Firms In China: Survey


The results of the United States presidential election has made more than 60 per cent of the American businesses in China more optimistic about doing business in China, showed a business group survey that was released on Friday.
But on the question of continuation of the trade tensions between the United States and China, almost one third of companies believed that the current trend will continue, the survey, which included 124 companies and conducted between November 11th and 15th, found. The survey was conducted by the American Chamber of Commerce in Shanghai.
Concerns about the personal safety of employees in China because of exit bans or detentions were expressed by 33 per cent of the company bosses, the survey also revealed. Compared to a similar survey in July this year, the latest survey found that a larger number of business heads being optimistic about 2020 revenues.
"Despite optimistic expectations for a better US-China business environment under a Biden administration, China should make reassurances to US companies in order to continue attracting US investment," said the chamber in a statement released alongside the survey.
In order to counter the growing influence of China in global trade, it is important for the US to negotiate with allies to set global trading rules, said US President-elect Joe Biden on Monday.
US and China have been embroiled in an acrimonious trade war since the middle of 2018 and bilateral relations have also sourced between the two over a host of issues which include trade, the imposition of a new national security law by China on Hong Kong, the alleged cover up of the novel coronavirus infection by China and US allegations of threats ot its national security posed by Chinese tech firms.