What impact will Biden’s election have on the United States, China and the world?

On November 8, 2020, according to the latest vote count in the US election, Biden has initially won the election.

According to Fox News, Biden won Pennsylvania, Nevada, and Arizona consecutively with electoral votes reached 290 votes. The number of votes required to win the election with more than 270 votes. At the same time, among the remaining states that have not completed the ballot count, 99% of the votes are completed. The vote of Georgia keeps the lead in GA.

Although Trump initiated the lawsuit, the fact is that in the history of the United States, there were 30 recounts of state elections from 2000 to 2016, and only 3 of them were rewritten. The result of the recount is usually not much different from the original one, and the median is only about 220 votes.

Among the current swing states that Biden is leading and may recount. For example, Biden in Michigan exceeds Trump by 147,900, in Nevada exceeds by 25,700, and in Pennsylvania exceeds by 37,500. His leading votes far exceed 220 votes. Even in a lawsuit, it is difficult for any state to change, and the change for only one or even two states will not affect the final result.

In summary, Biden’s election as the next President of the United States is already a highly probable event. So what impact will Biden have on the United States, China, and the world?

Domestic policy: Control epidemic and fiscal stimulus

During the election campaign, Biden represents as the Democratic has promised to make changes in controlling the epidemic, infrastructure, taxation, climate and new energy, medical insurance, employment, and various industries, such as to change the measures that were not in place during the Trump era, clarify specific plans in terms of infrastructure, increase taxes for large enterprises while reducing taxes for working families, increase employment rates, and solve social problems in depth.

Foreign policy: return to global governance

In terms of trade, Biden does not support the use of tariff weapons, and tends to unite allies to exert pressure on other countries and pay attention to “unfair competition”. Trump supports the imposition of punitive tariffs and anti-dumping investigations against countries that conduct “unfair dumping and subsidies.”

Most people agree that after Biden is elected, the world situation will be more stable-but the American hegemonic thinking will not change. Biden mentioned in his August speech to build a “generous and powerful, selfless and humble” America. Biden’s foreign policy will be more moderate, and it is expected that international cooperation in trade rules, climate agreements, etc. may pay more attention to “unity” and “political correctness.” In addition, Biden supports free trade and the WTO multilateral trading system, which is expected to promote the restoration of global and regional trade relations in the future. At the same time, its more open trade policy may ease trade resistance between the United States and the world as a whole and boost the global economy.