「大きな政府」へ転換めざすバイデン氏　日本経済も期待

Mr. Biden to aim for "The Big Government" for the United States

In the next US administration of Biden, economic policy is likely to change significantly. Unlike the "unpredictable" US President Donald Trump, who also imposes tariffs on his allies, former Vice President Joe Biden is willing to return to international cooperation. There are widespread expectations that mitigating US-China friction and additional economic measures will benefit the Japanese economy.

The Trump administration was characterized by economic policies that weakened the role of the government such as tax cuts and deregulation, and trade policies that used a lot of tariffs and strengthened the control of the government. The next administration of Biden aims to be a "big government" that actively promotes market intervention in terms of economic policy by reducing disparities by raising taxes on the wealthy and expanding social security.

Mr. Biden promised to withdraw part of the Trump tax cut and to mobilize a huge amount of money in response to the Corona crisis. There are also strong calls within the party to tighten regulations on giant IT companies. In terms of trade, it is unlikely that domestic industry will recover quickly and that it will return to liberalization until the Obama administration. The election results, with more than 70 million votes cast by President Trump, show a persistent backlash against globalization.

Source: https://www.asahi.com/articles/ASNC97DLNNC9ULFA022.html