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Whether it’s Trump or Biden, US election may lead to a redefined US-China trading relationship, says Standard Chartered CEO
- US likely to remain ‘relatively hostile’ to China, even with a Biden win, Standard Chartered CEO said
- Election could clear a path for countries to negotiate a ‘new way of doing business’, he said
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The coming American election may open the door for a slight thawing in the US-China relationship – or at least a “new way of doing business” between the world’s biggest economies, according to Bill Winters, Standard Chartered’s chief executive.
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Even if former US vice-president Joe Biden wins by an overwhelming margin, the US is likely to remain “relatively hostile” to China, Winters said.
But, the possibility exists for US President Donald Trump or a Biden administration to come to an agreement that allows for a redefined trading relationship between Washington and Beijing, which would be good for the global economy, Winters said.
Things continuing as they have under a second Trump term would be “problematic”, he said.
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“I would not expect things to go back to pre-Trump times, but I could imagine a reconciliation that would allow business to carry on, not dissimilar to the way it is now,” Winters said.
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