U.S. President Joe Biden on Thursday called China a "ticking time bomb" because of economic challenges including weak growth, but misquoted the country's growth rate.
SALT LAKE CITY, Aug 10 (Reuters) - U.S. President Joe Biden on Thursday called China a “ticking time bomb” because of economic challenges including weak growth, but misquoted the country’s growth rate.
Biden’s remarks were reminiscent of comments he made at another fundraiser in June when he referred to President Xi Jinping as a “dictator.”
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.
On Wednesday, Biden signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips.
China’s consumer sector fell into deflation and factory-gate prices extended declines in July, 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.
This is the best summary I could come up with:
SALT LAKE CITY, Aug 10 (Reuters) - U.S. President Joe Biden on Thursday called China a “ticking time bomb” because of economic challenges including weak growth, but misquoted the country’s growth rate.
Biden’s remarks were reminiscent of comments he made at another fundraiser in June when he referred to President Xi Jinping as a “dictator.”
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.
On Wednesday, Biden signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips.
China’s consumer sector fell into deflation and factory-gate prices extended declines in July, 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.
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