Biden calls China a "ticking time bomb"

U.S. President Joe Biden called China a "ticking time bomb" due to the country's growing economic problems and slow growth of the Chinese economy.

The American leader said this at a political fundraiser in Utah, Ukrinform reports citing Reuters.

"They have some problems. This is not good, because when bad people have problems, they do bad things," Biden said.

According to him, China is currently in trouble, and the United States does not want to harm China, but only seeks rational relations with the country.

Biden's remarks were reminiscent of his comments during a fundraiser in June in another state, when he called Chinese leader Xi Jinping a "dictator" a day after Secretary of State Anthony Blinken visited China to seek to stabilize U.S.-China relations, which Beijing calls the lowest since they were established in 1979. At the time, Beijing expressed outrage, but limited itself to a statement by the Foreign Ministry that such remarks against the Chinese leader were unacceptable.

The latest statistics show that China's consumer sector is likely to have fallen into deflation, against which the selling prices of goods producers continued to fall in July.

Experts suggest that China is entering an era of much slower economic growth with stagnant consumer prices and wages, which contrasts with inflation in other countries. For example, the United States, the world's largest economy, has been struggling with high inflation for a long time and is trying to strengthen the labor market.

Author - Serhii Kolomiets, 11/08/2023