Not surprisingly, China’s leaders did not like what they heard, and they didn’t budge.
Years of erratic and irresponsible policies, excessive Communist Party control and undelivered promises of reform have created a dead-end Chinese economy of weak domestic consumer demand and slowing growth.
The only way that China’s leaders can see to pull themselves out of this hole is to fall back on pumping out exports.
The tide of Chinese exports will continue, tensions with the United States and other trading partners will grow, China’s people will become increasingly unhappy with their gloomy economic prospects and anxious Communist Party leaders will respond with more repression.
It is baked into China’s political system and has only worsened during President Xi Jinping’s decade in power.
Persons:
Antony Blinken, Janet Yellen, that’s, Xi
Organizations:
Communist Party
Locations:
Beijing, United States