Biden misstates China's GDP growth, calls its economy a 'ticking time bomb'
Biden misstates China's GDP growth, calls its economy a 'ticking time bomb'
www.reuters.com Biden misstates China's GDP growth, calls its economy a 'ticking time bomb'
U.S. President Joe Biden on Thursday called China a "ticking time bomb" because of economic challenges including weak growth, but misquoted the country's growth rate.
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While Biden did misstate China’s GDP growth rate, he is right that China’s economy faces serious challenge that is unseen in at least 20 years. The official youth unemployment rate is 21.3%, and the actual rate might be as high as 46.5%.