Advisor to Trump: There will be a peaceful transfer of power

A senior economic advisor to US President Donald Trump has said there will be a peaceful transition of power, even if the president shows no signs of admitting defeat to Democratic rival Joe Biden.

"I think there will be a peaceful transfer of power," Larry Kudlow told the US television network CNBC on Friday, after being asked whether a peaceful transition of power was necessary to keep markets quiet.

"This is the largest democracy in the world, and we are committed to the rule of law, and so will this president," he said.

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