China well on track of stable economic recovery, defying ‘time bomb’ rhetoric

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Following the newly-announced executive order that restricts US investment in some high-tech industries in China, US President Joe Biden on Thursday intensified the smear campaign against China by claiming that the country is a "ticking time bomb" due to its economic challenges and it was in trouble because of weak growth. Chinese experts said on Friday that Biden purposely made these demeaning and smearing comments to distract the domestic audience's attention from domestic issues and gain political benefits for his campaign in the 2024 US presidential election.

Despite recent exchanges between senior Chinese and US officials, there has been no real easing of bilateral relations, experts said. They said since the US side is unlikely to change its foreign policy on issues such as the Taiwan question, the South China Sea and economy and trade, and especially the high-tech sector, it will be more aggressive toward China on these issues.

"China is in trouble," Biden said at a political fundraiser in Utah on Thursday, Reuters reported. "They have got some problems. That's not good because when bad folks have problems, they do bad things," Biden said, claiming that he did not want to hurt China and wanted a rational relationship.

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