US President Barack Obama's first term began with an inspiring victory, and great hope. His second term starts with a weary victory and great uncertainty. For Sino-US relations, it means changes, as the administration's foreign policy initiatives will be constrained by somber domestic realities in the coming months.

During the campaigns, neither candidate was eager to address the post-election economic challenges facing the United States. But according to polls, nine out of 10 Americans chose the new president on the basis of four priority issues: jobs, the budget deficit, healthcare and social security. China did not figure in this list directly, but indirectly it did, as it has been made the scapegoat for the US' woes.

Today, the unemployment rate in the US is 7.9 percent, which translates to 12.3 million Americans. More than 40 percent of these are long-term unemployed. The problem is that the current emergency federal unemployment insurance is scheduled to expire on Dec 31.