During his latest appearance on Fox News, Republican presidential candidate Donald Trump told Bill O’Reilly that he did not believe China’s president, Xi Jinping, was deserving of his state dinner at the White House, scheduled for September.
Scott Walker went so far as to demand the cancellation of Xi’s upcoming visit, saying President Obama “should focus on holding China accountable over its increasing attempts to undermine U.S. interests” through cyberattacks and “state interference” in its own economy.
“I can tell you that we have high-level interactions, such as next month?s visit, precisely so that we have the opportunities for the President to resolve, or, if not possible, narrow our differences with the Chinese“, White House Deputy Press Secretary Eric Schultz said. A heightened concern about a China slowdown shook markets around the world last week, and the dive continued Monday as China’s main stock index sank 8.5 percent. But this led to more corporate debt. “Get smart U.S.A”. Total trade with China has grown from $366 billion in 2009 to almost $591 billion in 2014.
“Whenever you get large market moves, especially ahead of a presidential cycle, there’ no question that people are going to talk about it”, said Deutsche Bank’s chief U.S. Economist Joseph LaVorgna. “They put a tariff on Chinese goods”. “We lose to everybody”, he said.
China’s troubles raise doubts about whether its policymakers have the tools to keep their economy growing at a healthy pace, something that’s been a reassuring constant for more than two decades.
“Why would we be giving one of our highest things a president can do – and that is a state dinner for Xi Jinping, the head of China – at a time when all of these problems are pending out there?”
“The truth is that we are the biggest single contributor to Chinese growth“.
“Americans are struggling to cope with the fall in today’s markets driven in part by China’s slowing economy and the fact that they actively manipulate their economy”, Walker said.
On the other side of the aisle, Vermont Sen. Bernie Sanders could also find a broader audience amid the economic turmoil. He said the enormous selloff was the result of the U.S. “allowing China and Asia to dictate the agenda”.