The global implications of the US election result

While the US election has dominated the news cycle across the world, the outcome is unlikely to have a significant impact on the world economy. Short-term global prospects will continue to be overwhelmingly driven by the evolution of the virus and the success of countries in containing it. Many of the longer-term trends affecting the global economy are unlikely to change under a Biden administration. In particular, while the tone of the debate around trade and international relations may soften, the underlying sources of tension between the US and China will remain and decoupling between their economies will continue.