From the favorable impact, the accelerated recovery of the US economy will stimulate the growth of China's exports and foreign investment. In particular, the expansionary fiscal policy that Obama is about to implement is a rare opportunity for China's export enterprises. Since the second half of 2008, the European, American and Japanese economies have fallen into recession, and both China's foreign imports and exports have fallen sharply. According to the statistics of the General Administration of Customs, the import and export in 2008 increased by 18% year-on-year, 5.5 percentage points lower than that in 2007, and this figure will further slow down to below 5% in 2009.

The United States is one of China's most important export destinations and sources of foreign investment. If the US economy fails to improve, it means that China's economy will have to rely more on investment and consumption. At the same time, the number of jobs provided by the export industry will be further reduced. This will bring obvious pressure on China's growth and employment.

According to the author's observation, at present, Obama has at least two economic advantages: first, Obama inherited the remaining $350 billion from the TARP plan of the Bush administration, and the ARRA plan with a total amount of $825 billion in mid-February will also be approved by Congress; Second, the rich experience of the Democratic Party helps to make up for Obama's shortcomings. The economic revitalization plan put forward by the Obama team is actually the wisdom crystallization of the ruling experience of previous Democratic presidents. For example, large-scale infrastructure construction has a strong trace of Roosevelt's New Deal; The upgrading of Internet hardware and the implementation of energy-saving and environmental protection strategies are directly taken from Clinton. At present, in Obama's core economic team, Summers, Geithner and others have accumulated rich financial management experience in the Clinton administration. Therefore, the recovery prospect of the US economy in the second half of 2009 may be worth optimistic expectation.

On the negative side, because Obama is also facing serious employment pressure at home, it may be difficult for him to resist the temptation from trade protectionism. Obama made false promises to some labor interest groups in the campaign to win votes; Judging from a series of cabinet members he recently appointed, there is also a lack of clear-cut supporters of free trade. Although people continue to defend Obama, as bhagwati, a famous international trade scholar, pointed out sharply, Obama's "disturbing silence on trade issues forced us to give up our illusions and become vigilant."

China should carefully weigh the positive and negative impacts that Obama's coming to power may bring to China's economy, so as to achieve advantages and avoid disadvantages as soon as possible. The author believes that some strategies worth considering include: in the field of global multilateral cooperation, calling on Obama to play a more active and responsible role in the second global financial summit held in April this year, especially urging him to clearly express his support for the Doha Round of global trade negotiations as soon as possible; In the bilateral economic and trade field between China and the United States, China should continue to promote the Sino-US Strategic Economic Dialogue (SED) mechanism with the Obama administration in a more frank and pragmatic manner, and elevate it to a higher stage.