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Biden calls China 'ticking time bomb' over economic woes
Biden calls China 'ticking time bomb' over economic woes
by AFP Staff Writers
Salt Lake City, United States (AFP) Aug 11, 2023
US President Joe Biden said Thursday that China's mounting economic problems make the country a "ticking time bomb."

"China is a ticking time bomb in many cases," Biden said at a private fundraising event in the western state of Utah.

The Democrat pointed to the country's high unemployment and aging workforce, saying "China is in trouble."

"When bad folks have problems, they do bad things," he said.

Biden offended Beijing in June by describing his counterpart Xi Jinping as a "dictator," in a comment slammed as a "provocation" by China's foreign ministry.

Biden insisted Thursday that he was seeking "a rational relationship with China."

"I don't want to hurt China, but I'm watching," he said.

The United States recently relaunched its dialogue with China, with a succession of visits to Beijing by senior American officials, including chief diplomat Antony Blinken.

The aim of Blinken's trip was to turn the page on recent tensions surrounding a Chinese balloon described as a "spy" operation that was shot down by the United States in February.

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Asian markets were mixed Thursday ahead of much-anticipated US inflation data, which comes against a backdrop of renewed concerns that the Federal Reserve could announce another interest rate hike before the end of the year. The feel-good factor that characterised much of July has given way to uncertainty about the US central bank's plans following a mixed jobs report and warnings from policymakers that more was needed to finally get prices under control. Ongoing weakness in China's economy - a ... read more

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