Finance

Biden’s China policy greater risk for U.S. financial firms than Trump

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The “Fearless Girl” sculpture is seen outside the New York Stock Exchange (NYSE) during a snow storm in New York, February 1, 2021.

Brendan McDermid | Reuters

BEIJING — As U.S.-China tensions continue to simmer under a new administration, risks for American investors with exposure to China are only going to rise, according to a report from Cowen.

“We believe President Biden represents a greater risk for financial firms on the China front than President Trump,” Cowen Washington Research Group’s D.C.-based analyst Jaret Seiberg wrote in an April 7 note. “We believe Team Biden will be more strategic, more multi-lateral and more effective in how it confronts China than Team Trump.”

The…



Source cnbc.com

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