Biden incorrectly presents China's GDP growth, describing its economy as a 'time bomb' waiting to explode.

 In Salt Lake City on August 10th, U.S. President Joe Biden referred to China as a "ticking time bomb" due to economic challenges, including sluggish growth, though he inaccurately cited the country's growth rate.

Speaking at a political fundraiser in Utah, Biden acknowledged China's existing issues, emphasizing that when troubled nations face problems, negative actions can arise. He expressed his desire for a reasoned relationship with China, despite offering a pessimistic outlook for the country's future.

Biden stated, "China is a ticking time bomb ... China is in trouble. China was growing at 8% a year to maintain growth. Now close to 2% a year."

Contrary to Biden's remarks, China's National Bureau of Statistics reported a growth rate of 4.5% for the first quarter and 6.3% for the second quarter. GDP showed a modest increase of 0.8% in April-June from the previous quarter, following a 2.2% expansion in Q1.

No immediate response came from China's foreign ministry regarding Biden's statements. These comments echo his earlier reference to President Xi Jinping as a "dictator" during a June fundraiser, a remark that China deemed provocative.

These remarks followed U.S. Secretary of State Antony Blinken's recent visit to China aimed at stabilizing relations, which Beijing acknowledged were at their lowest point since formal ties were established in 1979.

In response to these developments, Biden signed an executive order on Wednesday restricting new U.S. investment in China's sensitive technology sectors like computer chips. China, possessing the world's second-largest economy, expressed significant concern over the order and stated its intent to consider appropriate measures.

In July, China's consumer sector experienced deflation, and factory-gate prices continued to decline, diverging from inflation trends in other parts of the world. Meanwhile, the United States, as the world's largest economy, grapples with high inflation and maintains a robust labor market.

Reported by Nandita Bose; written by Jeff Mason; edited by Cynthia Osterman, Heather Timmons, and Philippa Fletcher.