financetom
News
financetom
/
News
/
Biden win opens door for improved predictability in China-US relations: State media
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Biden win opens door for improved predictability in China-US relations: State media
Nov 9, 2020 12:05 AM

Chinese state media struck an optimistic tone in Monday in editorials reacting to Democrat Joe Biden’s win of the US presidential elections, saying relations could be restored to a state of greater predictability and could start with trade. While acknowledging the United States was unlikely ease pressure on China on issues such as Xinjiang and Hong Kong, state-backed newspaper Global Times said Beijing should work to communicate with the Biden team as thoroughly as it can.

The Trump administration had deliberately created tensions in China-US relations, especially after adopting a campaign strategy of pressuring China, which led to ”bubbles” occurring in US-China policy, it said. ”We believe it is possible to pop those bubbles,” it said. ”It’s in the common interests of people from both countries and of the international community that China-US relations become eased and controllable.”

The Global Times is a tabloid published by the People’s Daily, the official newspaper of China’s ruling Communist Party, but does not speak on behalf of the party and government.

The China Daily newspaper said in a separate editorial it was ”obvious” improving ties with China could start from trade, and reviving trade talks was critical to restore some understanding and trust in China-US relations.

”It is one of the last threads linking the two sides. It is notable that neither Beijing nor Washington has ventured to scrap the hard-earned so-called phase one deal they negotiated,” said the China Daily, the country’s official English language newspaper.

Tensions between the world’s two largest economies have intensified over the past year, shaking up technology supply chains and trade relations, and stoking fears that a financial war between the two countries could be brewing.

The US pressure, along with the global pandemic, have set China on a mission to reduce its reliance on overseas markets and technology for its economic development, as part of a new ”dual circulation” model of growth to steer its economy. ”China must become a country the US cannot suppress or destabilize, and make it that cooperation with China is the best option for the US to realize its national interests,” the Global Times added.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil Update: Russia
Oil Update: Russia
Mar 23, 2024
Brent Crude Oil News and Analysis Over 150 missiles and drones fired in latest attack on UkraineOil prices ease into the weekend despite attacks on energy infrastructureIG client sentiment focuses on recent changes in positioning to arrive at bearish biasThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our...
Markets Week Ahead: Gold Overreacts, Sterling Sinks and USD Advances
Markets Week Ahead: Gold Overreacts, Sterling Sinks and USD Advances
Mar 25, 2024
Gold Whipsaws and Signals a Potential Momentum Shift The precious metal rose phenomenally in the wake of the FOMC meeting and updated summary of economic projections. The US dollar acted as the release valve for all the hawkish sentiment that had been priced into the market. US activity, jobs and inflation data printed on the higher side of estimates in...
US Dollar Forecast: PCE Data to Steal Show; EUR/USD, USD/JPY, GBP/USD Setups
US Dollar Forecast: PCE Data to Steal Show; EUR/USD, USD/JPY, GBP/USD Setups
Mar 23, 2024
Most Read: U.S. Dollar Outlook Market Sentiment: USD/JPY, USD/CAD, USD/CHF The U.S. dollar, as measured by the DXY index, strengthened this past week, closing at its best level since mid-February on Friday. Despite initial losses following the Fed’s dismissal of renewed inflation risks and indications that it was still on track for 75 basis points of easing this year, the...
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile Moves
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile Moves
Mar 25, 2024
Japanese Yen (USD/JPY) Analysis BoJ minutes extend the ‘carry trade’ as officials rule out rapid rate hikesLike clockwork, Japan’s top currency diplomat voices dissatisfaction with recent yen volatility, weaknessIG Client sentiment ‘mixed’ despite massive short positioningThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library BoJ...
Copyright 2023-2025 - www.financetom.com All Rights Reserved