** 11-Aug-2023 World View: Biden calls China a ‘ticking time bomb’
President Biden, in a Thursday
interview, called China a ‘ticking time
bomb’ because of its increasingly harsh
economic problems. As I have been
reporting, China's economy is in a sharp
deflationary spiral. In addition, youth
unemployment is over 20%.
The news today is that China's real
estate market faces a renewed crisis, as
huge developer Country Garden faces
bankruptcy.
In the same interview, Biden also
criticized China’s Belt and Road
Initiative (BRI), calling it a "debt and
noose" program. I and many others have
referred to it as a "Debt Diplomacy"
program, because China bribes country
leaders to sign contracts that provide
loans that can't be repaid. The fact
that Biden is now criticizing it is a
major insult to the Chinese Communists,
and signals further deterioration in
China-US relations.
In the interview, Biden concluded his
concerns about China's economy by
saying, “That’s not good because when
bad folks have problems, they do bad
things.”
I agree.
*** Biden calls China a ‘ticking time
> bomb’ over economic problems
https://www.nbcnews.com/news/world/bide ... -rcna99397
*** China's real estate sector faces
> fresh concerns as developer Country
> Garden lands in Evergrande-like
> crisis
https://www.livemint.com/industry/infra ... 97900.html