So far, so good. That seems to be the initial assessment of investors watching signals from the new Biden administration on future policy changes.
The Democrats’ plans to go big on economic stimulus and get to grips with the pandemic helped drive US and global equity markets to fresh peaks this week.
There will be many more policy changes for investors to digest, of course. But there is one theme that is likely to persist from the Trump years in the White House. The latest tidings from Washington towards China suggest an already combative economic and technological rivalry between the two powers has plenty of staying power.
“China is clearly our most important strategic competitor,” Janet Yellen told lawmakers during her confirmation hearing this week as US Treasury secretary under the new president. “It’s been stealing intellectual property and engaging in practices that give it an unfair technological advantage, including forced technology…