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Biden Warns of Chinas Economic Woes and Potential Consequences

Biden Warns of China’s Economic Woes and Potential Consequences

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During a political fundraiser in Utah, US President Joe Biden referred to China as a “ticking time bomb” due to its economic challenges and weak growth.

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He highlighted China’s high unemployment rate and aging workforce as key concerns.

Biden stated that when “bad folks” face economic problems, they tend to engage in harmful activities.

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He expressed the view that China’s economic troubles could have negative implications for stability and global relations.

Biden’s remarks echo his previous comments made in June, where he referred to Chinese President Xi Jinping as a “dictator,” leading to diplomatic tension.

The US-China relationship has faced challenges, with efforts made to stabilize relations through diplomatic channels.

China’s economy experienced deflation in July, and its factory-gate prices have also declined.

This economic slowdown raises concerns for international companies and economies that have close trade ties with China.

The United States, on the other hand, has been grappling with high inflation and maintaining a strong labor market.

To address certain technology-related concerns, Biden recently signed an executive order restricting new US investments in China in sensitive tech sectors like computer chips and AI. China responded by expressing “grave concern” about the order and reserving the right to take countermeasures..

Read More: Biden Stares Blankly at Press, Exits Room During Meeting with NATO Secretary General

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