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20.11.2020, 08:59

Most U.S. companies optimistic about doing business in China after Biden’s win - survey

CNBC reports that the American Chamber of Commerce in Shanghai said in a survey that the outlook for U.S. businesses in China is improving, whether politically or revenue-wise.

Out of 124 company leaders surveyed from Nov. 11 to 15, only two said they are more pessimistic about doing business in China following President-elect Joe Biden’s win this month.

Just over half, or 54.8%, said they are “more optimistic” and 8.1% are “much more optimistic” given the expected change from President Donald Trump’s administration, the survey found.

“The majority of our respondents look at it as a positive,” Ker Gibbs, president of AmCham Shanghai, told. “The Biden administration would be a positive to the stability of the environment, the stability of the relationship.”

Under a Biden administration, only 5.6% of AmCham Shanghai survey respondents expect more tariffs. Instead, 70.2% anticipate new U.S. leadership will work more with other countries to put pressure on trade relations with China.

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