The 2020 US general election will be held on November 3.

A total of four general election debates will be held in the United States before voting begins on November 3.

The first election debate was held from 9 p.m. to 10:30 local time (9 a.m. to 10:30 Beijing time).

In addition to this week, the vice presidential debate will be held on 7 October, and two more presidential debates will be held on 15 October and 22 October respectively.

We don't know what the final decision will be until the last minute, but either kind of election outcome is likely to cause investors to worry about the economy and financial markets. No matter who is elected the next president, investors who believe that the election results will have an impact on their personal investment may be affected by the election atmosphere.

To avoid being affected by investment sentiment, you need to pay attention to the differences between the Democratic and Republican parties in their election platforms to understand how the US election will affect the economy, financial markets and personal investment.

Trump and Biden have announced their respective policy platforms at the Democratic and Republican Party Congress in August, and their core policy propositions are very different.

Among them, Trump said he would further cut taxes, try again to repeal Obamacare, cut funding for education, impose an immigration ban, and continue to vigorously develop traditional energy.

Biden's policy proposition is almost the exact opposite of Trump's, including supporting tax increases, expanding health insurance coverage, increasing investment in education, and the use of clean energy.

Joe BidenBorn in 1942 in Pennsylvania, J.D., Syracuse University, served as Vice President of the United States during the Obama administration. Elected to the United States Senate at the age of 30, he is one of the youngest senators in the history of the United States. He ran for president of the United States twice in 1998 and 2008, and this is the third time he has run on behalf of the Democratic Party. The moderate wing of the Democratic Party, which has long been a member of the Democratic Party, has recently absorbed some progressive propositions in its political platform. Because of his political experience, he has won the support of senior members of the party, benefited from the handling of emergencies such as the COVID-19 epidemic and the Freudian incident, and is more welcomed by blacks, ethnic minorities and the middle class.

Donald TrumpBorn in New York in 1946, graduated from the Wharton School of the University of Pennsylvania, born as a businessman, is the current president of the United States and runs for re-election on behalf of the Republican Party. The term of office has boosted the economy, and the stock market has performed well, clearly representing the interests of lower-and middle-class whites.

What are the other details of the attitude and policy differences between Biden and Trump on specific issues?

Economic policy

Biden, the "defender of the middle class": advocates raising income taxes on the rich and businesses to narrow the gap between the rich and the poor, claiming that "economic security is national security". In employment, there is more emphasis on raising the minimum wage and promoting racial equality. At the same time, it advocates increasing government economic intervention and strengthening the supervision of financial markets.

In his policy proposition, Biden proposed a four-year $2 trillion "climate and infrastructure plan" for spending in areas such as infrastructure, clean energy and expanded health care, which will put more upward pressure on fiscal spending. It can be seen that Biden's stimulus policy is not as strong as Trump's in the short term.

Trump: attract manufacturing back to the United States, create jobs, and cut taxes across the board. Emphasize the driving effect of economic growth on employment and income growth.

Trade policy

Biden: support multilateral free trade, oppose taxation, and focus on the issue of "unfair competition".

Biden believes that the United States can benefit more from existing multilateral trading mechanisms than unilateralism. Work to reshape US leadership in multilateral relations and use the identity of trade rulemaker to put pressure on enemies who think they are a threat to the United States. Support for the Pacific Partnership Agreement also proposes to impose "carbon regulation fees" on commodities from countries that fail to meet their environmental protection obligations.

Biden has said he will stop punitive tariffs on China if elected, but he still supports the return of US manufacturing and strives to maintain US hegemony in science and technology.

Trump: trade protectionism, insisting on punitive tariffs on countries that engage in "unfair dumping and subsidies", replacing multilateral trade with bilateral trade, and withdrawing from TPP.

Foreign policy

Biden: will maintain a more rational and open diplomatic attitude, follow the basic principles of general diplomatic decisions and national interaction, will rejoin international organizations that Trump withdrew, repair relations with allies, focus on maintaining US hegemony, and may reconsider relations with TPP members.

Trump: emphasize "America first", give priority to isolationist policies, withdraw from World Health Organization (WHO), restore US position in global diplomacy, reshape US military power, and let allies bear more defense costs.

Social policy

Compared with Republicans, Democrats pay more attention to social and livelihood issues, advocate human rights, advocate the concept of narrowing the gap between the rich and the poor and advocate more social welfare.

Biden: safeguarding equal rights for ethnic minorities; relaxing immigration restrictions; increasing investment in clean energy reform; gradually promoting universal health care; plans to work with U.S. allies to develop a private sector-led 5G network; strengthen regulation in the financial sector.

Trump: support that everyone in the United States benefits from economic growth; oppose illegal immigration and repatriate illegal immigrants; vigorously develop fossil energy; consider an additional $1 trillion in infrastructure to stimulate the economy. The plan covers roads, bridges and some 5G construction and rural network construction in the United States. Oppose universal health insurance, advocate reducing health care costs through market competition, abolishing Obamacare, cutting spending on Medicare and Medicaid, deregulating financial regulation and paying attention to the rise of the stock market.

In the first presidential debate, Biden and Trump will further explain their policy propositions, opening the curtain of a head-to-head confrontation in this presidential election. However, in the context of the re-spread of the epidemic and the intensification of ethnic conflicts, the general election still faces a lot of uncertainty.

The latest election results show that Trump's approval rating has continued to pick up in the past two months, but he still lags behind Biden, and the first presidential debate will attract the attention of a large number of voters, especially those who have not yet made a decision. Will the gap between the two men widen further after this debate, or will Trump counterattack and surpass again? It's worth watching.