Biden Calls China a ‘Ticking Time Bomb’ Due to Economic Troubles
12:59 JST, August 11, 2023
SALT LAKE CITY, Aug 10 (Reuters) – U.S. President Joe Biden on Thursday called China a “ticking time bomb” because of its economic challenges and said the country was in trouble because of weak growth.
“They have got some problems. That’s not good because when bad folks have problems, they do bad things,” Biden said at a political fundraiser in Utah.
Biden’s remarks were reminiscent of comments he made at another fundraiser in June when he referred to President Xi Jinping as a “dictator.” China called the remarks a provocation.
Those comments came shortly after U.S. Secretary of State Antony Blinken completed a visit to China aimed at stabilizing relations that Beijing described as being at their lowest point since formal ties were established in 1979.
China’s consumer sector fell into deflation and factory-gate prices extended declines in July. China may be entering an era of much slower economic growth with stagnated consumer prices and wages, contrasting with inflation elsewhere in the world.
The United States, the world’s largest economy, has fought high inflation and seen a robust labor market.
“China is in trouble,” Biden said on Thursday. He said he did not want to hurt China and wanted a rational relationship with the country.
Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips. China, which has the world’s second largest economy, said it was “gravely concerned” about the order and reserved the right to take measures.
"NEWS SERVICES" POPULAR ARTICLE
Japanese Actor-Director Kitano Says His New Film Explores Homosexual Relations in the Samurai World
Japan’s Nikkei Up Sharply as Chip-Related Stocks Rally (Update 1)
Japan’s Nikkei Muted; Set to Post First Weekly Drop in Five as Tech Stocks Drag
Israel Searches for Traces of Hamas in Raid of Key Gaza Hospital Packed with Patients
Japan’s Nikkei Inches Down as Automakers Skid on Yen Strength
JN ACCESS RANKING
- Japan’s Economy Contracts as Demand Wanes
- Sardines and Mackerels Blanket Beach in Hokkaido; Local Fishermen ‘Never Seen This Many’
- Tsunami observed in Japanese coast after the earthquake near Philippines (UPDATE2)
- Autumn in Full Swing in Kyoto
- Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains