US President Joe Biden has described China as a “ticking time bomb” as it faces an uphill task on the economic front.
“They’ve got some trouble. It’s not good because when bad people have trouble, they do bad things,” Biden said Thursday, speaking at a Utah fundraiser.
“China is in trouble”, he added.
Biden said he does not want to harm China and wants a reasonable relationship with the Asian country.
His comments were in reference to comments he made during another political fundraiser in June, where he called Chinese President Xi Jinping a “dictator.”
China termed these remarks as provocation.
The comments came after US Secretary of State Anthony Blanken wrapped up a visit to China aimed at strengthening ties that Beijing has described as at their lowest point since formal ties were established in 1979.
China may enter a period of very slow economic growth with consumer prices and wages falling, in contrast to inflation elsewhere in the world. China’s consumer sector took a hit from inflation and factory-gate prices fell in July.
The United States, the world’s largest economy, has weathered high inflation and seen a strong labor market.
Biden signed an executive order on Wednesday that would ban some new U.S. investments in China in sensitive technologies such as computer chips.
China, which has the world’s second-largest economy, said it was “deeply concerned” about the order and reserved the right to take measures.
