Former China finance minister says trade frictions with U.S. could remain under Biden – By Reuters Staff (Reuters) / Nov 12 2020
BEIJING (Reuters) – Trade frictions between the United States and China may not ease in the near term even if Joe Biden becomes president, former Chinese finance minister Lou Jiwei said on Friday.
FILE PHOTO: Lou Jiwei, chairman of the National Council for Social Security Fund (NCSSF), speaks at the China Development Forum in Beijing, China March 24, 2018. REUTERS/Stringer
Lou, who is now retired and serves as a member of a consultative body to the Chinese parliament, made the remarks during the Caixin Summit in Beijing.
Stocks in China and other parts of Asia rose on Monday on news that Biden had clinched enough votes to win last week’s election, which investors hoped could lead to a thaw in frosty Sino-American ties. But President Donald Trump has not yet conceded.
When asked about the outlook for the U.S.-China economic and trade relationship, the outspoken former minister Lou said: “Even if Biden is elected, the U.S. suppression of China will be inevitable.”
