The first high-level meeting between diplomats from China and the new US administration was marked by hard-line positions. The rhetoric from representatives of both countries makes it clear that relations will remain tense and, more importantly, that President Biden's administration will maintain the trade and regulatory restrictions imposed by Donald Trump's previous administration for the time being. Analysts believe that President Biden will need to align the multiple interests at stake before he can implement his own strategy. According to research firm Gavekal, the US must manage four main aspects of its relationship with China:

• National security, ensuring U.S. technological and military superiority over China.
• The importance of the Chinese market for US companies, whose sales in the Asian giant are close to US$600 billion annually.
• Economic nationalism, which seeks to restore the U.S. manufacturing base.
• The defense of human rights, a growing point of friction between China and the international community.

One of the most significant impacts in the coming months could be the implementation of the Foreign Companies Accountability Act passed by the US last year. This law requires Chinese companies listed on US stock exchanges to submit audited information, which goes against Chinese regulations that prohibit these documents from being sent abroad. This could mean the departure of US$2 trillion in investments in shares of Chinese companies listed on US stock exchanges.