Biden Calls China ‘Xenophobic,’ Ramping Up 2024 Campaign Rhetoric

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President Joe Biden called China 'xenophobic' and highlighted their economic woes during a campaign stop in Pennsylvania. He mentioned that China has a population with more people in retirement than working and that they are not importing anything. Biden also called for higher tariffs on Chinese steel and aluminum and criticized Trump's policies towards Beijing. He vowed to continue efforts to deny China advanced technology like computer chips. Chinese officials have recently sought to boost investor confidence overseas, but foreign businesses' direct investment into China slumped to a 30-year low in 2023. Imports into China have been weak due to falling commodity prices and weak domestic demand.

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https://finance.yahoo.com/news/biden-calls-china-xenophobic-ramping-205516808.html