In a recent political fundraiser, President Joe Biden expressed his concerns about China's economic problems, describing them as a “ticking time bomb.”[0] He criticized China's slowing growth and high unemployment rate, referring to the nation as being in “trouble.”[1] Biden also took aim at Chinese leader Xi Jinping's Belt and Road Initiative, calling it a “debt and noose” due to the high levels of lending associated with the global investment program.[1]
These comments from Biden mark some of his most direct criticisms of China, highlighting the ongoing tensions between the two countries. Biden has been navigating a delicate balance between implementing trade curbs to address China's military advancements and seeking a diplomatic relationship that could potentially lead to a meeting with Xi later this year.
However, experts believe that Beijing is unlikely to be provoked by Biden's remarks.[2] Josef Gregory Mahoney, a politics and international relations professor, suggests that Beijing is aware of Biden's tactics to rally popular support at home and has experienced more severe criticisms from former President Donald Trump.[2]
Biden's comments about China's economic challenges have sparked discussions about the state of US-China relations.[3] Some argue that Biden's rhetoric reflects a tougher stance on China, while others believe it is part of a strategy to improve overall ties between the two nations.
The US-China relationship has been characterized by a series of conflicting actions and statements. Biden recently signed an executive order restricting US investments in China's advanced technology sector, which was viewed by Beijing as weaponizing trade.[4] This move came after talks between Kerry, Biden's climate envoy, and Chinese counterparts failed to produce new agreements on climate change policies.[5]
Observers suggest that the US-China relationship is at a critical juncture, with tensions rising over issues such as Taiwan and human rights abuses. While there have been attempts to pursue common interests and prevent conflicts, the contradictions in the US's approach, such as selling arms to Taiwan while seeking talks with China, highlight the complexities of the situation.[3]
China has expressed its concerns about the US's actions, asserting its right to counteract any measures taken against it. As the world's second-largest economy, China's economic struggles are also evident, with the country slipping into deflation and experiencing persistent falls in factory-gate prices.[6]
Overall, Biden's comments about China's economic challenges reflect the ongoing tensions between the two nations. The US-China relationship is at a critical juncture, with both sides navigating a delicate balance between conflict and cooperation. The future of this relationship will continue to shape global politics and economics, and it remains to be seen how Biden's approach will impact the dynamics between the two superpowers.
0. “Biden Calls China a ‘Ticking Time Bomb' Over Economic Troubles” OODA Loop, 11 Aug. 2023, https://www.oodaloop.com/briefs/2023/08/11/biden-calls-china-a-ticking-time-bomb-over-economic-troubles/
1. “Biden Fears China Economy Is ‘Ticking Time Bomb'” Bloomberg, 10 Aug. 2023, https://www.bloomberg.com/news/articles/2023-08-10/biden-fears-china-ticking-time-bomb-poses-danger-to-world
2. “Your Evening Briefing: Biden Warns China's Economy a ‘Ticking Time Bomb'” Bloomberg, 11 Aug. 2023, https://www.bloomberg.com/news/newsletters/2023-08-11/bloomberg-evening-briefing-biden-warns-china-s-economy-a-ticking-time-bomb
3. “China tech investment ban: Biden's new policy is not as straightforward as it seems.” Slate, 11 Aug. 2023, https://slate.com/news-and-politics/2023/08/biden-china-tech-investment-policy-diplomacy.html
4. “Biden, Xi Laying the Ground for a Summit in the Fall, as Relations Grow Warmer and Colder at the Same Time” The New York Sun, 6 Aug. 2023, https://www.nysun.com/article/biden-xi-laying-the-ground-for-a-summit-in-the-fall-as-relations-grow-warmer-and-colder-at-the-same-time
5. “Barrasso: China is playing Biden officials for suckers on climate” Uinta County Herald, 1 Aug. 2023, https://uintacountyherald.com/article/barrasso-china-is-playing-biden-officials-for-suckers-on-climate
6. “Biden calls China a ‘ticking time bomb' due to economic troubles” CNA, 11 Aug. 2023, https://www.channelnewsasia.com/world/biden-calls-china-ticking-time-bomb-due-economic-troubles-3692071
