U.S. And China Tensions Heighten As Biden Misstates Country’s GDP Growth, Restricts Tech Investments

The U.S. and China tensions heightened as American President Biden warned about the other country’s economic problems. Further reports say Biden also misstated China’s GDP growth and restricted high-tech investments in the other country this year.

During a political fundraiser in the state of Utah, the U.S. and China tensions heightened as President Joe Biden stated that the other country’s economy is declining. Further reports say that the U.S. and China tensions also heightened as Biden stated that instead of an 8% rate to maintain growth every year, in 2023, the country’s growth allegedly rose to around 2% only.

Furthermore, an article in CBS News states that the U.S. and China tensions also heightened as Biden issued an executive order to restrict high-tech investments in China. This suggests that the technology which used to benefit China’s military infrastructure will likely diminish the country’s economy.

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Repercussions of U.S. And China Tensions

According to Rossomando, Professor Scheherazade Rehman of International Finance at George Washington University warned that the economies of both countries are intertwined to the extent that the U.S. and China tensions may result in repercussions if the Chinese economy will decline.

In addition, Rehman further stated that the American tariffs that were imposed by the administration of former U.S. President Donald Trump on Chinese goods have contributed to the decline in the Chinese economy.

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