US Election Impacts China’s Stock Market; US Looking Into Pfizer’s China Operations

Tiffany Meier
By Tiffany Meier
November 6, 2020China in Focus

The U.S. presidential election is having an impact on Chinese stocks. It spells both good and bad news for the communist regime.

Investors are returning to China amid the uncertainty around the U.S. presidential election. They are turning their attention toward Chinese firms as a potential Biden administration is giving rise to Asian stocks and the yuan. Many believe Biden would take less of a hardline stance against China if elected.

Analysts say barriers for Chinese companies seeking to invest or raise money in the United States could continue, not only due to sensitive topics like the trade war and Hong Kong, but also because of China’s threat to U.S. national security through technology and over concerns of China misleading investors.

Meanwhile, drugmaker Pfizer has received informal requests relating to its operations in China.

The requests come from the Foreign Corrupt Practices Act units of both the Justice Department and the Securities and Exchange Commission. The company was involved in illegal payments to win business overseas—including in Russia, Bulgaria, China, and Italy.

It is illegal for U.S. companies and foreign firms whose stock is traded in the United States to bribe government officials in foreign countries.

And after 13 years of absence, Australia is rejoining a joint military exercise in the Indo-Pacific region. The participants include the United States, Japan, and India.

The Malabar exercises are a demonstration of military power. It comes in response to the Chinese regime’s aggression in the region.

Australia participated in the exercise only once back in 2007. That’s because its involvement was condemned by the regime. The country’s decision to rejoin the exercise may be a sign that it’s taking an even tougher stance against Beijing.

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