President Joe Biden recently criticized China’s economic problems in a fundraising speech, referring to Communist Party leaders as “bad folks.” He claimed that China’s growth has slowed and it has the highest unemployment rate, but these statements are inaccurate. Biden also criticized China’s Belt and Road Initiative, calling it the “debt and noose” due to high levels of lending to developing economies. However, it is unclear how China will respond to these remarks. Despite Biden’s inaccurate statements, China’s economy does face challenges, such as slower GDP growth, deflation, and a slumping property market. However, Biden’s comments exaggerated some of these problems. China still has a large working-age population and the economy is projected to grow this year. The relationship between the US and China is fragile, with issues like trade curbs and military tensions over Taiwan threatening stability. Biden’s previous remarks about China have also caused tensions. It remains to be seen how Beijing will react to Biden’s recent criticisms.
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