Trump's poodle blames China for Trump's trade war...
...which Trump is losing.
Demetri Sevastopulo and James Politi in Washington
Published 7 hours ago
"Scott Bessent slams China: ‘They want to pull everybody else down with them’US Treasury secretary tells FT that Beijing’s export controls are ‘a sign of how weak their economy is’
US Treasury secretary Scott Bessent has accused China of trying to hurt the world’s economy after Beijing imposed sweeping export controls on rare earths and critical minerals, hitting global supply chains.
Bessent told the FT that China’s introduction of the controls — three weeks before US President Donald Trump is expected to meet his Chinese counterpart Xi Jinping in South Korea — reflected problems in its own economy.
“This is a sign of how weak their economy is, and they want to pull everybody else down with them,” Bessent said on Monday.
“Maybe there is some Leninist business model where hurting your customers is a good idea, but they are the largest supplier to the world,” he added. “If they want to slow down the global economy, they will be hurt the most.”
Bessent added: “They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world.”
FT.com
...which Trump is losing.
Demetri Sevastopulo and James Politi in Washington
Published 7 hours ago
"Scott Bessent slams China: ‘They want to pull everybody else down with them’US Treasury secretary tells FT that Beijing’s export controls are ‘a sign of how weak their economy is’
US Treasury secretary Scott Bessent has accused China of trying to hurt the world’s economy after Beijing imposed sweeping export controls on rare earths and critical minerals, hitting global supply chains.
Bessent told the FT that China’s introduction of the controls — three weeks before US President Donald Trump is expected to meet his Chinese counterpart Xi Jinping in South Korea — reflected problems in its own economy.
“This is a sign of how weak their economy is, and they want to pull everybody else down with them,” Bessent said on Monday.
“Maybe there is some Leninist business model where hurting your customers is a good idea, but they are the largest supplier to the world,” he added. “If they want to slow down the global economy, they will be hurt the most.”
Bessent added: “They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world.”
FT.com
