Monday, May 27, 2024
Biden’s remark hints at China’s precarious economy: WH.

Biden’s remark hints at China’s precarious economy: WH.

White House clarifies Biden’s comment about China

US President Joe Biden’s comment about China being a “ticking time bomb” referred to internal economic and social tensions that could have an effect on how Beijing interacts with the world, a White House official has clarified.

Biden’s comments on China’s problems

Biden said at a political fundraiser on Thursday that China was “in trouble” and beset with economic and social problems.

“That’s not good because when bad folks have problems, they do bad things,” Biden said.

“China is a ticking time bomb,” he said.

“China was growing at 8 percent a year to maintain growth. Now, close to 2 percent a year,” Biden said, misstating the country’s growth rate.

China’s actual economic growth rate

Data from China’s National Bureau of Statistics showed the Chinese economy grew 4.5 percent in the first quarter and 6.3 percent in the second, with the gross domestic product (GDP) up just 0.8 percent in April-June from the previous quarter after a 2.2 percent expansion in the first quarter.

Biden’s desire for a rational relationship with China

Biden also said that he wanted a rational relationship with China.

Concerns about China’s behavior

White House spokesperson John Kirby told reporters on Friday that one area of US concern regarding China was “the way that they bully and coerce and intimidate countries around the world” by offering high-interest infrastructure loans and then seizing assets when countries defaulted.

China’s response and criticism

Chinese embassy spokesperson Liu Pengyu warned Washington against “scapegoating” Beijing and fanning “division and confrontation”.

Liu said China’s GDP growth continued to provide important support for the development of the global economy.

China’s state-run Global Times media outlet said that Biden made the “demeaning and smearing comments” to “distract the domestic audience” from issues in the US and to give his presidential campaign a boost.

No real easing in US-China relations

The news outlet also said that despite recent high-level exchanges between US and Chinese officials, there had been no “real easing in bilateral relations” between Washington and Beijing.

US position on pushing back against China’s behaviors

Kirby said the US – which also moved this week to limit outbound investment in certain Chinese sectors – had been consistent about pushing back against China’s behaviours.

“We’ve never shied away from calling it like we see it when it comes to [China’s] behaviour, intimidation and coercion of not only their neighbours but countries around the world,” he said.

Efforts to improve communication and possible meeting between US and China

“This is a difficult, complex bilateral relationship, the most consequential one in the world. The president understands that.

“But that doesn’t mean there isn’t still a need to continue to improve our lines of communication.”

Kirby did not comment on whether Biden’s latest comments would scuttle plans for the US president to meet with President Xi Jinping later this year, possibly on the sidelines of next month’s Group of 20 leaders summit in India.

Source

About Nick Dunn

Meet Nick Dunn, an exceptional author on our blog with a focus on news and politics. With an expertise in covering current affairs, international news, opinion and analysis, as well as politics and government, Nick delivers insightful and thought-provoking posts that are both informative and engaging. With his in-depth knowledge and sharp analysis, he keeps you informed and up-to-date on the latest news and developments around the world!

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