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Possible Directions for U.S. Policies in the Biden Era

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Joe Biden
Official White House Photo by Adam Schultz

Authors: Chan Kung and He Jun

On January 20, 2021, a new page will be turned in the history of the United States when Joe Biden becomes the 46thPresident. What will happen to U.S. domestic and foreign policy as a result of the transition from the “Trump Era” to the “Biden Era”? What will be the impact of this on the U.S., the world, and China? After the tumultuous Trump Era, we believe that this is an issue of great concern to international governments and markets.

The “ANBOUND 100+” high-end discussion platform and the macro team have been continuously tracking the news of the imminent Biden Era and possible policy changes. To this, we have made a number of key predictions. In the historic moment when Joe Biden is about to take office, it is important to review and summarize the relevant research to understand the changes that the new U.S. President will bring.

First, we shall look at the American political landscape in the Biden Era.

An overall judgment is that Democrats are taking control, but “Trumpism” is still unlikely to disappear from U.S. politics any time soon. The ANBOUND team had judged on November 11, 2020, that Donald Trump’s various policies had in fact left Biden with a number of political and diplomatic “legacies”, and that Biden actually had considerable autonomy over whether to “inherit” these “legacies”. Objectively, whether inherited or not, these “legacies” can be used as a bargaining chip for the Biden administration. On the issue of Trump himself, ANBOUND once said on December 20 that Trump will be in trouble because he had “gone too far” and that the future Biden team might carry out a complete reckoning with Trump and his team. Judging by the fact that Trump is facing a second impeachment and the investigation into the storming of the Capitol, such a reckoning is happening. In this regard, ANBOUND has summed up Trump’s influence remains and its trajectory to be: Trump -> Trumpism -> Trumpism without Trump.

In the Biden Era, the two-party political landscape in the U.S. will be unbalanced, with the Democrats dominating U.S. politics and rapidly gaining the upper hand, and the Republicans facing an internal split, as ANBOUND judged on January 10, 2021. On this basis, we believe that there is a clear trend towards “bipartisanship”, with the Democrats becoming the dominant party in this cooperation. In this context, the Biden administration is likely to complete domestic integration faster and turn its focus to foreign policy sooner. It is also possible that with less resistance at home, the Democrats will give more focusat home, and the U.S. society will become more integrated than in the past, with some of the major domestic issues, such as welfare and environmental protection, to likely make significant progress over the next four years.

Then, there are the U.S. economic issues and economic policies in the Biden Era.

The United States faces many problems in the economy, but the core problem lies in the distribution of wealth, which is the cause of many social problems. The research team of ANBOUND pointed out in November 2019 that the wealth of the United States is still in the process of being accumulated in large quantities, and the real problem of American society lies in the distribution of wealth. Part of the backlash against globalization in the U.S. is also related to the distribution of wealth in American society. On this basis, we believe that welfare will be an important aspect of U.S. economic policy that needs to be addressed in the future. On November 22, 2020, we further pointed out that the transition to a welfare state could usher in a new super-boom for the United States. Contrary to the view of many that welfare is a “simple spending” policy, we believe that welfare, if properly used, will create new consumption space. In terms of health insurance, education, and consumption in the United States, we expect that a full-scale welfare transition in the U.S. would create a USD 10 trillion mega-consumer market that would potentially bring the U.S. into a new phase of rapid development while resolving social tensions.

Based on the above analysis, we believe that the core of the so-called “Bidenomics” is about the distribution of wealth and the “welfarization”. From what has been observed so far, the basic logic of “Bidenomics” is to solve the public health crisis, save jobs, reconfigure the industrial chain, overhaul infrastructure, promote an environmental agenda, build a better social security system, and promote social equality. This logic is likely to be the “core” of economic policies in the Biden Era. There were similar signals that emerge before Biden officially took over the presidency. Biden has proposed USD 1.9 trillion stimulus package to deal with the impact of the pandemic on the U.S. economy and society. Biden’s Treasury Secretary nominee Janet Yellen also called on the U.S. Congress to act more aggressively to deliver economic aid without worrying too much about the debt. “Neither the president-elect, nor I, propose this relief package without an appreciation for the country’s debt burden. But right now, with interest rates at historic lows, the smartest thing we can do is act big,” Yellen said. “I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time,” Yellen added. Yellen also stressed the need to rebuild the U.S. economy “so that it creates more prosperity for more people and ensures that American workers can compete in an increasingly competitive global economy.”

Concerning the foreign policy issues in the Biden Era, as mentioned above, Biden will not completely abandon Trump’s diplomatic “legacies”, rather he would build on it with some kind of “pullback”. In this process, institutionalization and systematization will be the most prominent characteristics of American diplomacy in the future. A top foreign policy priority for the Biden administration will be to rebuild relations with its allies, particularly Europe, restoring stability to the transatlantic alliance and healing the rifts that have emerged over the past few years. We believe that such rapprochement will certainly play a role and the U.S.-EU strategic alliance will not change, but it will be difficult to fully restore to the levels of the past. On many issues, such as economy and trade, market space, security, and digital sovereignty, the EU will have a stronger “sense of autonomy”. As for U.S.-China relations in the Biden era, we have argued that we should not expect the U.S. government to adjust its hardline position on China, but that the Biden administration would be more predictable in its approach to policy games, returning to the character of “the establishment”. In fact, as early as October last year, the ANBOUND’s research team pointed out in its outlook on U.S.-China relations in the Biden era that the Biden administration’s approach to several aspects of domestic and foreign affairs would generally differ from that of the Trump administration, and that while its strategic positioning of China and the policy of inhibiting the rise of China in the long term would remain unchanged, in terms of specific approaches, the Biden administration would seek a certain degree of order and geopolitical discipline to implement and enforce its policies.

In regard to the Korean Peninsula issue, we believe that in the Biden Era, it is possible for the United States and North Korea to reach a phased nuclear abandonment agreement. On Iran, the main concern is still the Iranian nuclear issue. We believe that the United States will amend Trump’s extreme policies on the issue of the Joint Comprehensive Plan of Action (JCPOA), or the Iran nuclear agreement, and some adjustment will take place. However, even if the United States can return to the Iran nuclear agreement, Iran may have to make certain concessions on the 2015 version. One of the key points may be that Iran needs to further restrict its support to the militia in the Middle East on the basis of the original version. This means that Iran’s influence in the Middle East will be significantly reduced. Regarding the issue of returning to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), we believe that returning to CPTPP is quite attractive to the Biden administration, but it is also quite difficult. Fluctuations in U.S.-China relations will affect the process of the United States returning to CPTPP; the worse the U.S.-China geopolitical relationship gets, the less resistance the United States will have to return to CPTPP.

In addition, ANBOUND’s researchers also believe that looking from the standpoint of historical development, the Biden administration may be a transitional period for the United States to return to “normal” from the Trump Era. From Biden’s personality, age, situation and environment, we tend to think that the Biden administration is likely to be a “presidential accountability system under the leadership of Secretaries”. In such a government, it is the Secretaries of various departments, the Department of State, and the new cooperation pattern of the two parties in Congress that play a key role, rather than relying mainly on the President. In particular, Janet Yellen, the new Treasury Secretary who had served as the Chairperson of the Federal Reserve, could very well have crucial impact on the U.S. economic policy in the Biden Era.

Final analysis conclusion:

With the transfer of executive power, the United States will bid farewell to the “Trump Era” and usher in the “Biden Era”. The United States under Joe Biden will undergo considerable adjustments and changes, which are reflected in many aspects of the United States’ domestic politics, international geopolitics, economy, and foreign policy. The world will watch the new changes in the United States, and China will see a new pattern of U.S.-China relations. Changes in the United States will not only affect the world but also China’s development strategy.

Founder of Anbound Think Tank in 1993, Chan Kung is now ANBOUND Chief Researcher. Chan Kung is one of China’s renowned experts in information analysis. Most of Chan Kung‘s outstanding academic research activities are in economic information analysis, particularly in the area of public policy.

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U.S. has a vital interest in avoiding going to war for a lie

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Photo: Bundesregierung/Denzel

Last time, it was a U.S. president, George W. Bush, who dishonestly took America into a conflict, but that at least was against a weak Third World nation. The consequences were still disastrous: thousands dead and tens of thousands of wounded Americans and hundreds of thousands dead Iraqi civilians, trillions of dollars wasted, and a Middle East in flames.

But what Zelensky would do is much more serious, writes “The American Conservative”. He called the Poland strike “a really significant escalation” requiring a response, even though the issue would have nothing to do with Ukraine had the missile been launched by Russia.

In this case, entry into the war could trigger a major conventional conflict highlighted by use of tactical nuclear weapons, or even the use of strategic nuclear strikes around the globe, from Russia to Europe to the U.S. That would be a catastrophic result for all concerned, including Ukraine.

But the missile was not from Russia, and the U.S. has a vital interest in avoiding going to war for a lie. Upbraiding Zelensky, as Biden apparently did, isn’t enough.

This isn’t the first unsettling surprise by Ukraine for Washington. While the attack on the Kerch Strait Bridge was legitimate, it could escalate the conflict in dangerous ways for the U.S. So too could strikes in border Russian regions near Belgorod, and the assassination of Daria Dugina, a Russian propagandist, not combatant.

If Ukraine were operating entirely on its own, such actions would be its business. However, it has succeeded beyond any expectation only because of allied, and especially U.S., support for the Ukrainian military.

Washington also should further open diplomatic channels with Moscow, as appears to be happening, at least to some degree, given reports of CIA Director Bill Burns meeting with his Russian counterpart last week. National Security Advisor Jake Sullivan and Defense Secretary Lloyd Austin have also engaged with Russia, but such conversations need to be broadened to discuss possible political accommodations.

The U.S. also needs to address the Europeans, especially its most fervent hawks, who tend to be among the most lightly armed.

For instance, the Baltic states — small nations with minimal armed forces and niggardly defense efforts for governments claiming to be under imminent threat of conquest — are regarded as the most likely to engage in “freelancing,” as when Lithuania sought to block traffic between Kaliningrad and the rest of Russia. Everyone knew who would be ultimately stuck fighting the war that might result if Moscow’s forces had decided to shoot their way through, and it wasn’t Vilnius.

It is easy to sacrifice someone else’s lives and money, which is essentially what most U.S. “allies” believe is their role in both bilateral and multilateral security partnerships. Washington submissively agrees to defend them, as is its duty; they generously agree to be defended, as is their right. That relationship is no longer sustainable.

America’s foreign aid should be tailored to American interests, and Washington should rethink what has become an increasingly dangerous almost “all-in” proxy war against Russia.

The U.S. should scale back military aid to Kiev, and especially Europe.

Operating as Europe’s patsy is a serious problem, even in peace.

The time for the Europeans to take their defense seriously is long overdue. But that will happen only when Washington stops doing everything for them. America’s military remain busy around the world. The Europeans should secure their own continent, relieving the U.S. of at least one needless military responsibility.

Zelensky’s misleading missile gambit reinforces the necessity of a change in course for Washington.

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Thanksgiving, The World Cup and Sports Celebrities

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Forty-six million turkeys surrender their lives so Americans can celebrate Thanksgiving.  It is an occasion where traditionally families gather together for a scrumptious meal of turkey and trimmings, numerous side dishes and pumpkin pie, followed by … college football on TV — that is American football, a game somewhat similar to rugby. 

The holiday is meant to commemorate the first Thanksgiving when the pilgrims who ventured to America gave thanks for a good harvest.  It was a time when a poor harvest could have meant famine in winter.  Never now in our sophisticated world where we import grapes from the southern hemisphere (Chile) for consumption in winter and many fruits are available year round.

This year there is the added entertainment of the soccer World Cup in Qatar, being played out in eight  purpose-built stadiums, seven new and one refurbished.  Most will be converted for other uses after the event, a change from the past.  

The US now has a team that held England, where the game was invented, to a draw.  The favorites remain  the Latin American powerhouses like Brazil and Argentina but the Europeans can on occasion pull off a surprise.

Why certain games are popular in one country and not another is difficult to explain.  India and China, the world’s most populous countries, are absent at the World Cup.  On the other hand, India is a powerhouse in another British game: cricket.  And China remains a top performer at the Olympics.

The crowd turning out for cricket matches, particularly between arch rivals India and Pakistan remain unmatched by other sports played there, even field hockey where the two countries have also been fairly successful. 

Leveraging sports celebrity into a political career is also possible but success on the cricket pitch may not always be transferred to administrative competence.  Imran Khan’s innings as prime minister led to members of his own party defecting, and ended when he lost his parliamentary majority.

Still attracting large crowds of supporters who are entertained at his rallies before he himself appears, he is asking his supporters to march to the capital — echoes of another leader this time in the US, Donald Trump, who has just announced a bid for re-election.

Meanwhile, Imran Khan has been secretly recorded planning illegal tactics and barred from holding political office by the courts in Pakistan.  Exactly how he plans to rule if his party or coalition were to win is not clear — by proxy perhaps.

If all this is not enough, he has become notorious for doing U-turns on policy leaving his party members and supporters scrambling in his wake — a reminder if ever there was of the old Chinese curse:  “May you live in interesting times.”

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Ron Paul: Biden Administration accept that it has a “Zelensky problem”

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Official White House Photo by Lawrence Jackson

Last week the world stood on the very edge of a nuclear war, as Ukraine’s US-funded president, Vladimir Zelensky, urged NATO military action over a missile that landed on Polish soil.”

This is a comment from the prominent American political leader Ronald Ernest Paul was for many years the member of the U.S. House of Representatives from Texas. Three times he sought the Presidency of the United States: once as the Libertarian Party nominee and twice as a candidate for the Republican Party. He continues in his comment:

“But there was a problem. The missile was fired from Ukraine – likely an accident in the fog of war. Was it actually a Russian missile, of course, that might mean World War III.

‘While Zelensky has been treated as a saint by the US media, the Biden Administration, and both parties in Congress, something unprecedented happened this time: the Biden Administration pushed back. According to press reports, several Zelensky calls to Biden or senior Biden Staff went unanswered.

‘The Biden Administration went on to publicly dispute Zelensky’s continued insistence that Russia shot missiles into NATO-Member Poland. After two days of Washington opposition to his claims, Zelensky finally, sort of, backed down.

‘We’ve heard rumors of President Biden’s frustration over Zelensky’s endless begging and ingratitude for the 60 or so billion dollars doled out to him by the US government, but this is the clearest public example of the Biden Administration’s acceptance that it has a “Zelensky problem.”

‘Zelensky must have understood that Washington and Brussels knew it was not a Russian missile.

‘Considering the vast intelligence capabilities of the US in that war zone, it is likely the US government knew in real time that the missiles were not Russian. For Zelensky to claim otherwise seemed almost unhinged. And for what seems like the first time, Washington noticed.

‘As a result, there has been a minor – but hopefully growing – revolt among conservatives in Washington over this dangerous episode. Georgia Rep. Marjorie Taylor-Greene introduced legislation demanding an audit of the tens of billions of dollars shipped to Ukraine – with perhaps $50 billion more in the pipeline.

‘When the Ukraine war hysteria finally dies down – as the Covid hysteria died down before it – it will become obvious to vastly more Americans what an absolute fiasco this whole thing has been,” writes Ron Paul.

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