US President Joe Biden has described China as a ‘ticking time bomb’ due to its economic problems and weak economic growth. Meaning that it could prove to be extremely dangerous or threat to the future.
According to the Reuters news agency, in a speech at an event. President Biden said in reference to China that “they have some problems. It’s not good because when bad people have problems, they do bad things.”
Biden said that China is in trouble and he does not want to harm it, but wants a reasonable relationship with Beijing.
Addressing a fund-raising event in June, President Biden made similar remarks, calling President Xi Jinping a ‘dictator’.
President Biden made the recent statement on the occasion that Secretary of State Anthony Blanken visited China a few weeks ago with the aim of strengthening relations with Beijing.
According to China, since formal relations with the United States were establish in 1979. They are currently suffering from severe deterioration.
With rising inflation rates around the world. China is believe to be entering a period of possibly very slow economic growth. When consumer prices and wages are not rising.
On the other hand, America, the world’s largest economy, has overcome the severe inflation rate and the labor market has also accelerated.
On Wednesday, Joe Biden, through a presidential order, banned investment in China’s sensitive technology sector.
After this order, US companies will not be able to invest in other sensitive technologies such as computer chips in China.
The ban is intended to prevent China from using US investment and expertise to help develop technology. That could lead to an increase in military capabilities and threaten US national security.
The Chinese Foreign Ministry also expressed “deep dissatisfaction” in response, saying it opposes US investment restrictions.