Posted on Sep 5, 2023
China may now never take the US's crown as the world's largest economy
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"The flurry of bad data has led to US president Joe Biden calling China's economy a "ticking time bomb" – and several other strategists warning the current downturn there could snowball into a slump that drags on global growth."
China may now never take the US's crown as the world's largest economy
Posted from businessinsider.com
China
Economy
International Affairs
Posted >1 y ago
Responses: 1
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China has the world's second largest economy. As much as they are our enemy, we are still intrinsically tied to them economically.
Time to start fixing supply chains NOW. Batten down the hatches and get ready for things to get worse before they get better.
I make no secret of my contempt for Bidenomics. But if/when China implodes, I will readily admit the inevitable downturn in the American economy will *not* be entirely Joe's fault.
That being said, if we know it is coming and do nothing to prepare, that *is* on Joe.
Time to start fixing supply chains NOW. Batten down the hatches and get ready for things to get worse before they get better.
I make no secret of my contempt for Bidenomics. But if/when China implodes, I will readily admit the inevitable downturn in the American economy will *not* be entirely Joe's fault.
That being said, if we know it is coming and do nothing to prepare, that *is* on Joe.
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LTC Eugene Chu
Council on Foreign Relations story from August 2023 about current Biden administration bans on investing in China.
https://www.cfr.org/in-brief/president-biden-has-banned-some-us-investment-china-heres-what-know
https://www.cfr.org/in-brief/president-biden-has-banned-some-us-investment-china-heres-what-know
President Biden Has Banned Some U.S. Investment in China. Here’s What to Know.
The Joe Biden administration says the restrictions are directed at protecting national security, not stifling economic competition.
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