Chinese Officials and Citizens Express Cautious Optimism as Trump Returns to White House

Chinese officials and ordinary citizens are expressing cautious optimism as Donald Trump prepares to return to the White House, hoping to avoid a repeat of the trade war that strained economic relations between the superpowers during his previous term.

Biden's Inauguration and Trade Concerns

During his last presidency, Trump imposed tariffs on over $300 billion worth of Chinese imports. In recent months, he has threatened to impose additional tariffs of 10%, which would impact China's struggling economy. However, Trump's election has also included gestures of conciliation, such as inviting Chinese President Xi Jinping to his inauguration. Xi sent his vice president, Han Zheng, as a representative, a sign of goodwill considering China's previous representation by an ambassador.

Han Zheng's Meetings with US Businesses

Han Zheng recently met with Tesla CEO Elon Musk and other US business leaders in Washington. He expressed hope that US companies would invest in China and help improve bilateral relations. The meeting, which included representatives from various industries, was described as "very cordial."

Cautious Optimism Among Chinese

While some Chinese officials and citizens are hopeful, others remain cautious. They recognize that China's economy is facing challenges amid the COVID-19 pandemic and Trump's unpredictable nature. A Beijing resident named Wang expressed concern, stating that Trump's "crazy, wild" behavior increases pressure on China.

Stock Market Performance

Following Trump's phone call with Xi Jinping, Chinese and Hong Kong stocks experienced a surge, indicating some easing of geopolitical concerns. The CSI300 Index rose 0.9%, while the Hang Seng Index jumped 2.3%, its largest gain in five weeks.

As Trump prepares to resume office, the fate of US-China relations remains uncertain. While officials and business leaders hope for improved collaboration, the potential for renewed trade tensions and geopolitical challenges persists.