United States (US) President Joe Biden fears that China is a "ticking time bomb" amid the economic troubles it grapples with.
Biden blurted out the alarming remarks during his Thursday, August 10 campaign fundraiser.
Joe Biden Warns China is a 'Ticking Time Bomb'
As per the South China Morning Post, President Joe Biden has warned that China is a "ticking time bomb" for the global economy, citing the country's slowing growth. Beyond that, the American leader also boldly called Chinese Communist leaders "bad folks."
In Biden's remarks at his Utah political fundraiser on Thursday, the US President declares that China "got some problems." He warns, "[That is] not good because when bad folks have problems, they do bad things."
According to Bloomberg, Biden stressed during its donor campaign in Park City, Utah, that the Chinese superpowers "has the highest unemployment rate going." He also pointed out that China is grappling with economic woes these days. The President cited the alarming growth slowdown and the historic rise of people in retirement age, which is higher than the current workforce.
The South China Morning Post notes that the Chinese nation faces slower economic growth due to several factors. It includes issues with consumer prices and wages in the economic superhouse.
President Biden's vocalization of his apprehensions suggests a new chapter in the ongoing saga of US-China relations.
US and China Ties Under Biden's Leadership
It is not the first time the two global giants have been at odds. Trade disputes, technology rivalry, and human rights concerns contributed to the uneasy dance between the US and China. As Reuters reports, the recent feisty remarks of Biden against the chief geopolitical rival of the US comes after he called China's President a "dictator."
In a campaign fundraiser in June, President Biden said his Chinese counterpart, Xi Jinping, is a "dictator." China slammed the American leader's remarks, calling it a provocation and absurd. Chinese Foreign Ministry spokesperson Mao Ning says it was "irresponsible," which violated China's political dignity and the mere diplomatic protocol.
On top of his recent remarks, the US President declared that China is struggling with "real economic difficulties."
A day before Biden aired his concerns amidst China's economic woes, the President signed an executive order restricting US investments in Chinese firms. The world's second-largest economy, next to the US, responded to the order, expressing its "grave concern."
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