根据拜登竞选时及其上任后的政策主张，拜登经济政策主要包括疫情期间对中低收入群体纾困、基础设施建设投资、气候变化和清洁能源投资、制造业产业链重塑以及对人力资本的投资等五个方面，其主要政策措施是财政增支增税。拜登政府的大规模财政支出计划实际落地难度较大，实际效果有限。若基建计划能最终落地，新兴经济体能从美国财政刺激推动的需求复苏中受益，但仍需关注基建产业链贸易审查、大宗商品价格上涨、美联储紧缩等带来的风险。
According to Biden’s policy ideas during his election campaign and after he took office，Biden’s economic policies mainly included five areas：relief for low- and middle-income groups during the COVID-19 pandemic，investment in infrastructure development，investment in climate change and clean energy，reshaping of the manufacturing industry chain and investment in human capital. And his main policy measures were fiscal spending and tax increases. The Biden administration’s massive fiscal spending plan is difficult to implement in practice and has limited practical effect. If the infrastructure plan can finally be implemented，the emerging market can benefit from the demand recovery driven by the US fiscal stimulus，but we still need to pay attention to the risk of trade review of the infrastructure industry chain，the risk of rising commodity prices and the risk of Fed tightening.
