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| US residents in Shanghai pose with a cardboard cutout of President Barack Obama after the announcement of his re-election. Analysts say China will have to continue to deal with the consequences of US macroeconomic policies in coming years. Yong Kai / For China Daily |
US' ultra-loose monetary policy 'to put inflationary pressure on China'
The challenge the US economy faces won't go away following President Barack Obama's election victory, nor will the possible effects on the Chinese economy, economists and financial specialists said.
Obama will face some tough fights in the next a couple of months, while economic growth may decline again, said Ethan Harris, co-head of global economic research and head of developed economies at Bank of America Merrill Lynch.
"There are limits on what the president can do to go forward" and the biggest challenge facing Obama is the "fiscal cliff", Harris told China Daily on Wednesday.
The "fiscal cliff" refers to a series of policy changes, including tax increases and spending cuts, that will take effect in January.
Obama has called for tax increases for the upper income group, which Republicans have resisted.
Landmark building should respect the public's feeling
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