US elections: What is at stake?

From a markets perspective, a second term for President Trump would mean a continuation of his current policies. The real question is, what would a Biden victory mean and what is at stake if the Democrats win both houses? We start by looking a t the potential economic impact of each candidate’s plans. Specifically for Biden, what would his victory mean to US-Chinese relations, what could be the implications of his plan to make the tax code more progressive and what would be the repercussions of a $15/h minimum wage? We follow on by looking at the effect on various segments of the US markets, along with the implications of Biden’s $2Tn infrastructure and clean energy plan. Acknowledging that the election is tight, we conclude by looking back at the 2000 presidential campaign and recount. What parallels can be drawn between 2000 and 2020?