The Challenges facing President Biden :
1/n
2/n Fixing the economy as he did in 2009 post the GFC . His USD 1.9 Trln stimulus and having a steady experienced hand like Janet Yellen at the wheel is a positive. Also the rebound has been strong from the June Quarter depths.
3/n Generating employment and addressing the huge inequalities scarring society, with the K shape recovery making the affluent classes more rich while creating wide swathes of poverty and impoverishment .
4/n Regulation and anti monopolistic action on Big Tech and their pervasive influence on formulating opinions ,generating belief systems and influencing behaviour .Antitrust lawsuits , Sec 230 challenges and digital taxation disputes will need to be addressed.
5/n Tax increases for the super rich and for corporations, undoing the Trump 2017 Tax cuts , creating fiscal space to take on infrastructure, renewables , health care , education
6/n Containing China, which has emerged as a strong economic, geopolitical and globalisation leadership challenger . China's manufacturing and military might and aggression with neighbours presents a civilisational challenge to the free world and its leadership.
7/n Strengthening the role of the US as the leader of the Free World against autocracies . The US has vacated its post Second World War preeminent position on the world stage and Biden's experience will be required in mollifying insulted allies and rebuilding a democratic bloc
8/n Global trade has reached back to pre Covid levels but the components have moved in favour of China and certain other economies that weathered the pandemic better .
9/n Trade agreements and regaining the US' position as a leader amongst equals in a multilateral system
10/n Better oversight of Financial sector firms, especially lightly regulated cryptocurrencies ,SPACs , shadow banks, private equity and hedge funds with trillions in flows .Also stronger regulation and oversight of banks will be a priority .
11/n Helping high employment small businesses, of which over 400,000 have closed since the first lockdown . Especially in hard hit services sectors like leisure, entertainment,dining and travel . Small businesses employ nearly half the private sector employees .
12/n Student debt moratoriums will be extended and there is talk of one time paydowns of student loans to decrease the indebtedness amongst younger households.Rental and anti eviction relief to tenants will be another priority area .
13/n Manging the transition to a carbon neutral economy and meeting the rejoined Paris Accord commitments. Biden will seek to take the global leadership on climate friendly policies and actions but will have to balance that with costs and job losses.
14/n Infrastructure rejuvenation and spending will be a key priority area for the Biden team . This can have a huge multiplier effect with a virtuous circle being set in motion. Funding this will be key .
15/n Iran , North Korea , Russia , Cuba there are many Trump legacies that the Biden team will have to address . The experienced Sec of State and the new foreign policy team will have their work cut out on this front
16/16 The biggest and immediate task will be to manage the Covid containment and vaccination rollout while keeping the economy recovery on steam. This will define the Biden term for the immediate future. Lots to do but President Biden has the team and acumen to manage these.
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