US-Biden Anti-China Campaign Backfires on US Economy!
A White House official has explained that US President Joe Biden’s remark about China being a “ticking time bomb“ was in reference to domestic economic and social problems that may affect how Beijing engages with the outside world. At a political fundraiser on Thursday, Biden claimed that China was “in trouble“ and rife with social and economic issues. Biden replied, “That’s not good because when bad folks have problems, they do bad things,”
“To maintain growth, China was expanding at an annual rate of 8%. Now, close to 2 percent a year,“ Biden erroneously stated regarding the growth rate of the nation.
According to data from China’s National Bureau of Statistics, the country’s economy expanded by 4.5 percent in the first quarter and 6.3 percent in the second. However, the GDP only increased by 0.8 percent from April to June of this year, following a 2.2 percent growth in the first quarter.
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