Treasury Secretary Says Chinese Economy Is Slowing Down Significantly? The Truth Is Not So.

May 1st, U.S. Treasury Secretary Besten:

"The Chinese economy is significantly slowing down." He said in an interview with Fox Business Channel's "Maria Morning" program, "Yesterday we saw the very poor GDP data released by China. Now we also see a very high estimated number of job losses in China, ranging between five million to ten million."

Even if what Besten said is true, there is nothing to be surprised about. The ability and resilience of the Chinese economy to withstand risks are far superior to those of the United States. With such a large base of employment in China, even a reduction "ranging between five million to ten million," the proportion remains within a controllable risk range. On the contrary, if the United States experiences a reduction to this number, it would cause chaos.

Besten (Scott Bessent) became restless and urged the Chinese side yesterday to quickly start trade negotiations with the U.S.

Original article: https://www.toutiao.com/article/1831006060877836/

Disclaimer: This article only represents the author's personal views.