Joe Biden called China’s economy “a ticking time bomb” , despite his administration’s efforts to improve relations with Washington’s major rival.
On Wednesday, Biden signed an executive order restricting U.S. investment in Chinese high-tech areas including semiconductors and AI. The Chinese Commerce Ministry said Thursday it was “seriously concerned” about the directive and could take action. On Thursday, Biden called China’s Belt and Road Initiative “debt and noose” due to the massive debts developing countries take out in exchange for Chinese investment. However, Washington did not want to damage its ties with Beijing.
“We aren’t looking for a fight with China,” Biden remarked. “I don’t want to hurt China, but we must watch them.” Biden claimed China, the world’s second-largest economy after the US, was “in trouble” due to sluggish growth and the “highest unemployment rate going. “That’s not good because when bad people have problems, they do bad things,” he was quoted as saying at a political event in Park City, Utah.
The Review.Press, News Wires
