Former Chinese Finance Minister Lou Jiwei expressed his view on the likely US-China trade relationship on Biden’s presidency.
“Even if Biden is president, US-China trade frictions won’t necessarily be eased. “
“Financial institutions should be determined to deleverage debt levels in an orderly manner, prevent debt-fuelled recovery.”
“It is time to study the exit of monetary policy, not fiscal policy.”
The Chinese proxy, the AUD, is little affected by the above headlines, as AUD/USD reaches fresh six-day lows near 0.7220 amid growing coronavirus fears.