The Times Australia
The Times World News

.
The Times Real Estate

.

Why Biden or Trump must urgently secure stable relations with China

  • Written by George Prior



Joe Biden or Donald Trump – whoever is the President of the United States come November, their ultimate challenge is to secure “stable relations” with China which would win an all-out trade war, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations.

The warning from Nigel Green, chief executive and founder of deVere Group, comes as Mr Biden prepares to give his official acceptance speech on Thursday night to the Democratic National Convention to become the party’s nominee to run against Mr Trump on November 3.

Mr Green says: “Managing China and maintaining America’s fragile economic superiority over its major trade and commerce rival will be the defining foreign policy issue of this presidential election.

“Both the Democratic and the Republican candidates seemingly share a belief that ‘being tough’ on China -- or whoever can knock China the most effectively-- is going to do well with the electorate.

“Both Biden and Trump will up the China-bashing between now and November 3.”

He continues: “Whilst this strategy might be a political weapon to win the White House, whoever does become the next CEO of the world’s largest economy will have a golden opportunity to secure stable, normalised relations with China.

“And this should be high-up on their agenda.

“Cooperation will benefit both nations by helping to boost global economic growth, encourage investment, secure jobs, keep prices down for consumers, reduce unfair or illegal economic, commercial and technological practices, reduce poverty and environmental problems, and contribute to stopping human-rights abuses and military interventions.”

But there is another major reason, says the deVere CEO, why moving towards amicable relations with China cannot go unmet by the incumbent or the challenger.

“A de-escalation in U.S.-China tensions must be a top priority for whoever is in the Oval Office because it can be very reasonably assumed that China will win an all-out trade war.

“Why? Because America’s trade deficit with China is frequently over-estimated and barely gives it the upper hand.

“Also, China’s central bank -- unlike the U.S. Federal Reserve -- is not independent and can be made to cut interest rates to bolster domestic demand and devalue the currency to make Chinese exports even more competitive.

“In addition, China is better positioned than America – which has a record budget deficit - to help out industries hit hard by a trade war.

“Plus, the ruling Communist Party of China can take the political impact of a trade war better than whichever party wins in the U.S.

“The leaders of China don’t need to play popularity games.”

Mr Green concludes: “Whoever wins the U.S. presidential election must seize the momentum that a win gives a political leader and immediately seek amiable relations with the world’s second-largest economy.”

Twitter: @PriorConsults

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

The Times Features

Why You Need an Expert Electrician for Your Business’s Electrical Upgrades and Repairs

When it comes to maintaining and upgrading your business’s electrical systems, it’s essential to call in a professional. Electrical work in any commercial setting requires the ex...

Why Is It Crucial to Have a Building Inspection Done Before Buying a New Home?

Purchasing a new property is a big financial decision that can impact your future for years. Whether you are a first-time buyer or an investor, good or bad, it is essential to en...

Online Application for Sick Leave Certificate: Understanding When and How to Secure One

A sick leave certificate is an official document issued by a healthcare professional to verify an individual's inability to attend work due to illness. It typically includes the ...

A No-Fuss Guide to an Effective Beauty Routine

Taking care of the skin and appearance need not be complicated; it need not even consume your hours of time. Smart and simple approaches can give one that glow and fresh look witho...

Safe & Effective Tattoo Removal in Auckland – What You Need to Know

If you're looking for tattoo removal in Auckland, modern laser technology offers the safest and most effective way to fade or completely remove unwanted ink. Whether it's an outd...

Fleece-Lined Tights vs. Regular Tights: What’s the Difference?

When temperatures drop, choosing the right pair of tights can make a significant difference in comfort, warmth, and durability. Whether you wear tights for fashion, work, or outdoo...

Times Magazine

The Ultimate Guide to Apple Watch Faces & Trending Wallpapers

In today’s digital world, personalization is everything. Your smartwatch isn’t just a timepiece—it’s an extension of your style. Thanks to innovative third-party developers, customizing your Apple Watch has reached new heights with stunning designs...

The Power of Digital Signage in Modern Marketing

In a fast-paced digital world, businesses must find innovative ways to capture consumer attention. Digital signage has emerged as a powerful solution, offering dynamic and engaging content that attracts and retains customers. From retail stores to ...

Why Cloud Computing Is the Future of IT Infrastructure for Enterprises

Globally, cloud computing is changing the way business organizations manage their IT infrastructure. It offers cheap, flexible and scalable solutions. Cloud technologies are applied in organizations to facilitate procedures and optimize operation...

First Nations Writers Festival

The First Nations Writers Festival (FNWF) is back for its highly anticipated 2025 edition, continuing its mission to celebrate the voices, cultures and traditions of First Nations communities through literature, art and storytelling. Set to take ...

Improving Website Performance with a Cloud VPS

Websites represent the new mantra of success. One slow website may make escape for visitors along with income too. Therefore it's an extra offer to businesses seeking better performance with more scalability and, thus represents an added attracti...

Why You Should Choose Digital Printing for Your Next Project

In the rapidly evolving world of print media, digital printing has emerged as a cornerstone technology that revolutionises how businesses and creative professionals produce printed materials. Offering unparalleled flexibility, speed, and quality, d...

LayBy Shopping