Most US companies in China are more optimistic after Biden's win

62.9% of US companies in China claimed to be more optimistic about their business in the Asian giant after the electoral victory in the US of the Democratic candidate, Joe Biden, who defeated Donald Trump under whose mandate relations with Beijing they deteriorated remarkably. This is the result of a post-election survey published today by the United States Chamber of Commerce in Shanghai, which reflects the opinions of 124 American companies operating in China, of which 50 have a global turnover of more than US $ 1 billion.

Among these firms, 8.1% admit to being much more optimistic, while 35.5% believe that there will be no changes in their businesses with the arrival of Biden to the White House

on the other side of the coin, 1.6% of US companies in China are more pessimistic with the Democratic candidate than with Trump. The study also shows that twice as many participants now believe that trade tensions between Beijing and Washington will last a year or less (28.2% compared to 14.1% in July), although it is also growing slightly (from 26.9% % to 29.8%) the proportion of those who think disputes will drag on indefinitely.

In fact, almost 85% of those surveyed believe that there will not be an increase in trade restrictions or tariffs, although within that group, only about 30% believe that they will be lowered.

More than 70% of US companies in China believe that the Biden Administration's approach to its trade relationship with Beijing will not be based on tariffs, as Trump did, but on building a common front of multilateral pressure.

Finally, when asked if they are concerned about the safety of their employees and the possibility that they face bans on leaving the country or arrests, two-thirds of the participants said they were not afraid at all, while the rest did show alarm when respect.

The number grows among smaller companies those with an annual global turnover of less than 50 million dollars of which half do show concern about possible reprisals against their employees depending on the evolution of relations between USA and China.