China’s brief reaction to Joe Biden on the economy was, “Resilient, not collapsed”
The Chinese Foreign Ministry disputed statements made by US Vice President Joe Biden that China’s economy was in trouble and would result in bigger issues, saying that China’s economy is strong and has not collapsed. Concerns about China’s economy have been expressed openly by officials from the US and Australia. While Australian Treasurer Jim Chalmers warned that a slowing Chinese economy might have an impact on Australia’s, US Vice President Joe Biden referred to China’s economic position as a “crisis”.
A ministry official, Mao Ning, said: “The truth is that China’s economy has not collapsed. It appears that there will be different hypotheses of China’s collapse every so often. Jim Chalmers or Joe Biden were not mentioned by the spokeswoman. She said that China’s economy has immense potential and that the underlying principles of long-term progress remain unchanged. Mao said, “We are confident and capable of fostering sustained and healthy economic development.”
This occurs as China’s economic recovery, which began quickly in the first quarter after three years of tough Covid-19 restrictions, has slowed.
Joe Biden said that Beijing was “starting to change some of the rules of the game” in international relations when he added, “I don’t want to contain China” in Vietnam. Additionally, the US president claimed to have spoken with Chinese Premier Li Qiang about “stability” during the G20 conference in India.
“Joe Biden said, “We talked about stability… It wasn’t at all confrontational.”
He continued, “I don’t think it’s going to cause China to invade Taiwan, in fact, maybe the opposite, probably doesn’t have the same capacity as it had before.” China “has a difficult economic problem right now for a whole range of reasons that relate to international growth and lack thereof, and the policies that China has followed,” he said.
He said, “I’m not going to sell China any stuff that would boost their ability to produce additional nuclear weapons or participate in military actions that go counter to what most people believe to be a constructive development in the area.