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The Sino-American relationship is unlikely to improve under US President-elect Joe Biden, Zheng Yongnian, a Chinese government adviser, said in an interview on the sidelines of the Understanding China Conference in Guangzhou.

Key quotes (via South China Morning Post)

“The good old days are over … the cold war hawks in the US have been in a highly mobilized state for several years, and they will not disappear overnight.”

“President-elect Joe Biden might take advantage of the public resentment towards China after he entered the White House. “American society is torn apart. I don’t think Biden can do anything about it.”

“The deteriorating US-China relationship is the victim of internal problems in the US, and an external reflection of US internal problems.”

Market reaction

The above comments have little to no impact on the market sentiment, as the risk-on flows dominate amid vaccine optimism.

The US dollar index drop 0.15% to 92.25, challenging Friday’s low of 92.21.

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