Trump or Biden? What impact the US election result may have on Asia
31 October, 2020
It was one of his own early proclamations in office: “Trade wars are good and easy to win.”
And since USA President Donald Trump arrived in power four years ago, international trade - the lifeblood of Asia - has come under tremendous stress.
He has taken a hardcore line, most prominently, with China, by imposing tariffs on the united states and sanctions against tech giant Huawei and popular software TikTok and WeChat.
Following the Trump administration blacklisted Huawei this past year and barred it from buying essential American components, Wist Plastic and Metal Technology Limited, among the suppliers of Huawei’s phone parts, saw a third of its income evaporate.
“We’ve co-operated with Huawei for several years. In the first half of this year, there was some impact on orders. Exports declined,” said Kin Xiong, the general manager of its Shenzhen factory.
The US-China trade war not merely hampered Huawei’s immediate expansion plans but also forced the supplier to turn to the domestic Chinese market to help the business enterprise stay afloat.
With just a couple of days before the 2020 US presidential election, Asia is waiting with anxiety and a huge question: What will the result mean for the continent?
The program Insight realizes what impact Democratic challenger Joe Biden’s foreign policies may have on Asia if he is chosen, or if Trump is re-elected, whether this means more storms ahead.
Source: www.channelnewsasia.com