President-elect Joe Biden is likely to be more friendly towards foreign investors, immigrants, renters and students than US President Donald Trump. However, he might also implement taxes that are less favorable to the rich, market observers said.

Perhaps the relationship between the United States and China will not go back to what it was, but Biden will be viewed by investors – local and foreign – as a more rational leader, said Georg Chmiel, Group Executive Chairman of Juwai IQI, a privately held real estate sales and media company. Biden will be more interested in stability and economic growth than Trump, he added.

“Most Chinese clients [whom] we work with believe Biden will be more friendly to investors from overseas than President Trump has been,” Chmiel said. “Biden might reverse some tariffs and have a more pro-immigrant and pro-student stance. Parents will feel less worried about sending their children to the US under Biden. They think the Chinese will be more welcome in the country.”

 

Source: South China Morning Post